Few in new poll confident in economic leadership within Congress, Biden administration

Fewer than 4 in 10 Americans in a new poll say they’re confident in the economic leadership of congressional leaders, President Biden and Federal Reserve Chairman Jerome Powell amid a battle over the debt ceiling and the looming threat of default.

In the Gallup survey released Tuesday, 34 percent of respondents expressed a fair amount or a great deal of confidence in Democratic leaders in Congress to do or recommend the right thing on the economy, and 38 percent expressed the same for Republican leaders on Capitol Hill.

Thirty-five percent of Americans said they’re fairly or greatly confident in Biden’s economic leadership, and 36 percent say the same for Powell. The approval ratings for the congressional leaders in both parties, Biden and Powell all dipped since last year. 

Democrats are currently more confident in the Biden administration leaders than Republicans are, with 77 percent of Democrats confident in the president on the economy — compared to 5 percent of Republicans.

Biden is meeting with Speaker Kevin McCarthy (R-Calif.) and other top lawmakers Tuesday afternoon at the White House to talk about the debt ceiling amid the debt ceiling tensions. 

Talk of lifting the debt ceiling has been swirling all year after the U.S. exceeded the limit in January. But now, Treasury Secretary Janet Yellen is warning her department could run out of emergency measures to stave off default as soon as June 1, giving political leaders a short window during which to act to avoid what many are warning could be severe economic consequences. 

The White House has pushed for a “clean” debt ceiling hike, while Republicans have demanded an increase come with spending cuts. 

Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.) and House Minority Leader Hakeem Jeffries (D-N.Y.) also will attend Biden’s meeting with McCarthy.

Conducted April 3-25, the poll surveyed 1,013 U.S. adults and had a margin of error of 4 percentage points.

Updated at 7:55 a.m.