Democratic strategists and party leaders obviously anxious About the upcoming presidential election. But if a little-noticed report released last month by the Congressional Budget Office is to be believed, the president's troubles are just beginning.

by reportAccording to “CBO's Current View of the Economy from 2023 to 2025,” economic growth will fall by 40% this year, while unemployment will rise and job growth will slow to its worst levels. . (Related: JD FOSTER: Biden administration's antitrust push against airlines is pointless)

More precisely, CBO expects monthly job growth to decline by 80% in the months leading up to the election. This is expected to increase the number of unemployed people by more than 1 million people, or nearly 20 percent.

If CBO's predictions prove accurate, the timing couldn't be worse for the Biden campaign.

Voters are already worried about the economic situation and President Joe Biden's response. According to a Gallup poll, only 32% of Americans and 24% of independents approve of the way President Biden is handling the economy.

Even worse, the recent YouGov poll We found that a plurality of respondents (41%) believe the economy is currently in recession. 22% say they believe the economy is getting better, while 45% say the economy is getting worse.

What will happen to these numbers if CBO's economic forecast becomes reality?

The only bright spot in CBO's outlook is inflation. The CBO expects inflation to fall to 2.5% this year. That is encouraging, but the political and economic damage has already been done.

When Joe Biden took office, the annual inflation rate was 1.4%. The following year, as a result of his federal policies, inflation soared to 9.1%. waste. The overall price level (as measured by the Consumer Price Index) rose 17.4% in the first three years of the Biden administration.

Compare this to an increase of 7.7%. four years of the Trump administration.

Under President Biden, Americans saw inflation more than double, but for a much shorter period of time.

Nevertheless, President Biden's reelection prospects are irrevocably tied to convincing voters that his economic policies will benefit them and the country.

The president has his own job to do.as NBC News reported Late last year: “No one seems to like 'Bidenomics,' the abbreviation for Joe Biden's economic policies. Voters, Democratic officials, and sometimes even the president himself.” The strategist added: “Whoever came up with the slogan Bidennomics should be fired.”

Bidennomics remains unpopular despite unprecedented efforts to get voters to think otherwise.Groups trying to support President Biden's re-election campaign spend record amounts $47.8 million Last year, the company focused its political ads on the battleground states of Arizona, Georgia, Michigan, Nevada and Pennsylvania, and the president's poll numbers worsened in all five states.

In an earlier era, President Reagan quipped:[T]Here's a simple way to tell our critics that they're wrong and that our plan is working. It's no longer called Reaganomics.” It speaks volumes that Republicans keep talking just to attack Bidennomics.

A week in politics is an eternity. Unfortunately for President Biden, he must endure another 42 weeks until the presidential election, facing an already dissatisfied electorate and the prospect of a worsening economy.

James Carter served as Assistant Secretary of Labor and Assistant Secretary of the Treasury under President George W. Bush. Jim Ellis is the founder of Ellis Insight election analysis service.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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