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Tags: inflation | spending | prices | economy | americans

Monmouth Poll: Majority 'Concerned' of Inflation From Biden Spending

U.S. President Joe Biden speaks during a press conference
U.S. President Joe Biden speaks during a press conference after the NATO summit at the North Atlantic Treaty Organization (NATO) headquarters in Brussels, on June 14. (Olivier Hoslet / POOL / AFP)

By    |   Wednesday, 16 June 2021 01:18 PM

While an American majority supports President Joe Biden's spending plans, the latest Monmouth University poll also finds a majority sees the country on the "wrong track" and a large majority is "concerned" Biden's spending might lead to inflation.

A combined 71% of American adults are at least "somewhat concerned" (24%), but a plurality is very concerned (47%) that Biden's "spending plans could lead to inflation – that is, a big jump in the price of goods and services."

Notably, a majority (57%) also felt the things in the country have "gotten off on the wrong track" under the Biden administration and large spending packages proposed on the coronavirus pandemic, infrastructure, and to support American families.

Still, the plans are popular, according to the poll:

  • 60% support $1.9 trillion for COVID-19 stimulus (39% strongly, 21% somewhat), while just 38% are opposed (27% strongly, 11% somewhat).

  • 68% support Biden's infrastructure spending (49% strongly, 19% somewhat), while just 29% oppose (21% strongly, 8% somewhat).

  • 61% support Biden's American Families Plan trillions (41% strongly, 20% somewhat), while just 34% oppose (24% strongly, 10% somewhat).

"The plans are broadly popular, but the path to getting there is not so clear-cut," Monmouth University Polling Institute Director Patrick Murray wrote in a statement. "This is one of those situations where the administration has to weigh short-term blowback in public opinion against what they hope will be long-term gains."

Republicans are most concerned about massive spending (93%), compared to independents (70%) or Democrats (55%).

"Concerns about possible inflation do not appear to undercut overall public support for these spending plans," Murray added. "That might be because many Americans expect the pros will outweigh the cons.

"Right now, Biden is not quite meeting the public's expectations for helping the middle class. His calculation may be that the country is willing to accept some price increases in return for a more robust economy and wider array of support programs."

The Monmouth University Poll was conducted June 9-14 among 810 U.S. adults and has a margin of error of plus or minus 3.5 percentage points.

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While an American majority supports President Joe Biden's spending plans, the latest Monmouth University poll also finds a majority sees the country on the "wrong track" and a large majority is "concerned" Biden's spending might lead to inflation. A combined 71% of American...
inflation, spending, prices, economy, americans
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2021-18-16
Wednesday, 16 June 2021 01:18 PM
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