Joe Biden’s 2024 campaign gets good news: Vast economic misery is decreasing
With eight months to go before Election Day, a deeply troubling number of Americans say they are struggling to pay their bills. But vast hardship appears to be decreasing substantially, at a good time for President Joe Biden.
As of this month, 36 percent of Americans reported having difficulty paying their usual household expenses, according to new data from the U.S. Census Bureau. That figure is quite high, but it’s a five-point decrease from October, when more than 41 percent of respondents reported experiencing financial hardship.
The new figures, released Thursday, highlight Biden’s biggest challenge as he gears up for his reelection bid against former President Donald Trump: Americans are still experiencing economic misery on a massive scale. By many measures, though, the economy is broadly improving — the labor market remains strong, and wages have been outpacing inflation. That improvement appears to be finally showing in the Census data.
The Census Bureau launched the Household Pulse Survey early on in the Covid-19 pandemic to measure how Americans’ lives are being impacted. Since August 2020, the bureau has asked survey respondents how difficult it has been in the past week to pay for typical household expenses, including food, housing, car payments, medical expenses, and student loans.
The percentage of Americans struggling to pay their bills skyrocketed as the federal government terminated pandemic aid programs.
For a time following the outbreak of the pandemic, starting under Trump, policymakers in Washington expanded unemployment benefits; sent stimulus checks; paused student loan repayments; and forbade states from removing terminating Medicaid enrollees’ coverage.
In March 2021, Biden signed the American Rescue Plan, authorizing a round of $1,400 stimulus checks and expanding the child tax credit. The percentage of Americans experiencing financial hardship quickly plummeted to 26 percent — the lowest figure recorded as part of these surveys.
Since then, the temporary safety net expansion has been rolled back piece by piece. The percentage of Americans experiencing financial hardship steadily increased, reaching a new high of nearly 41 percent in October 2022.
The census survey results did not meaningfully improve over the following year. In fact, in October 2023, the percentage of Americans having trouble paying their bills peaked at more than 41 percent, according to Rolling Stone’s analysis of the data.
Those numbers have helped explain why Biden’s approval rating on the economy is underwater, and why he is locked in such a close race with Republican frontrunner Trump, despite the former president currently facing 91 criminal charges. A recent poll conducted for the Financial Times found Trump has an 11-point advantage over Biden in terms of which candidate voters trust most to handle the economy. Economic confidence remains strikingly negative.
The latest Census survey shows that fewer Americans are currently struggling to pay their bills now than in the fall. To be clear, financial hardship remains elevated and is still slightly higher than it was when Biden took office.
If the numbers continue to improve, though, Biden’s 2024 chances might, too.
FAQs
The latest Census survey shows that fewer Americans are currently struggling to pay their bills now than in the fall. To be clear, financial hardship remains elevated and is still slightly higher than it was when Biden took office. If the numbers continue to improve, though, Biden's 2024 chances might, too.
Why did I get a census survey in 2024? ›
This survey was conducted as part of a small-scale testing program aimed at gathering initial data about proposed enhancements for the 2030 Census design.
Is the US Census Bureau American Community Survey legit? ›
Is the American Community Survey legitimate? The American Community Survey is a legitimate survey conducted by the Census Bureau. Unlike the every-10-year census, this survey continues all year, every year. We randomly sample addresses in every state, the District of Columbia, and Puerto Rico.
What happens if you don't fill out a US Census survey? ›
The census law (Title 13, United States Code, Section 224), coupled with the Sentencing Reform Act of 1984 (Title 18, Sections 3551, 3559, and 3571), provides for penalties of up to $5,000 for failure to report, and $10,000 for intentionally providing false information. 3.
Is the US census mandatory? ›
It is required by law that all persons residing in the United States on April 1, 2020 respond to the Census, and it is important for democracy to obtain an accurate count of everybody. But, there are no federal or state benefits currently contingent on completing the Census nor will there be in the future.
How to legally refuse to participate in the census survey? ›
A: If you receive notice that you have been targeted to respond to the ACS and you desire to assert your right of privacy, you can voice those objections and your intent not to respond to the ACS by writing a letter to the Census Bureau.
Can I get in trouble for not doing the American Community Survey? ›
It's true, you won't really get in trouble if you don't complete the ACS. However, it's important to remember answering the survey can fill in gaps in information about your community as a whole. The information can lead to better decisions made on a local level and impact people's lives.
What is the penalty for census American Community Survey? ›
Those who decline to complete the survey may receive visits to their homes from Census Bureau personnel. Because it is a mandatory survey, it is governed by federal laws that could impose a fine of as much as $5,000 on those who flagrantly refuse to participate.
How do I know if a census survey is legitimate? ›
If you have been contacted to participate in a survey and want to verify that it is legitimate, you can search the Census Bureau's list of surveys by name. The name of the Census Bureau survey may be provided in the following ways: In a mailing from the Census Bureau. By a caller from the Census Bureau.
Do I have to respond to the census? ›
Yes, your response is required by law. Title 13 United States Code, Sections 131 and 182, authorizes this collection. Sections 224 and 225 require your response. The U.S. Census Bureau is required by Section 9 of the same law to keep your information confidential and can use your responses only to produce statistics.
Planning the 2030 Census is underway. The 2030 Census will count residents of the United States and five U.S. territories and will mark the 25th population count in the United States; the first was in 1790.
Is the census current population survey mandatory? ›
About 59,000 households are selected for the CPS each month, and it is a voluntary survey. Participation in the CPS is important because the answers represent thousands of other addresses and people.
