CNBC’s All-America Economic Survey, released on Wednesday, has revealed some significant insights. According to the survey, in a hypothetical head-to-head election matchup, former President Donald Trump would outperform President Joe Biden by 4 percentage points.
The survey also indicates a decline in approval for President Biden, with only a 37% approval rating and a high disapproval rating of 58%. This represents one of the lowest approval ratings and one of the highest disapproval ratings of his presidency. Specifically, his approval rating on economic matters is at 32%, which is the lowest it has been during his presidency, with a 63% disapproval rating.
In response to recent Hamas attacks on Israel, the survey found strong support among the American public for the U.S. government to provide military aid to Israel, with 74% of respondents considering it essential.
Support for Israel’s military assistance in the survey surpasses other priorities, including securing the U.S.-Mexico border, foreign humanitarian aid (72%), and military aid to Ukraine (61%). Additionally, 52% of respondents expressed support for military and economic aid to Taiwan.
The survey also reflects varying opinions on the Israel-Hamas conflict. About 39% favor supporting Israelis over Palestinians, 36% believe both sides should be treated equally, and 19% remain undecided.
Despite President Biden’s public support for Israel and promises of additional aid during the conflict, only 31% of respondents approved of his handling of foreign policy, while 60% disapproved. Notably, some of this decline in support comes from within his own party, with only 66% of Democrats approving of his foreign policy.
The survey reveals concerns among both Republican and Democratic pollsters regarding President Biden’s approval ratings and their potential impact on his chances for reelection. Certain demographic groups, including young people, Black individuals, and Latinos, have shown decreased support for the president, possibly due to economic challenges they’ve faced.
One noteworthy finding is that President Biden trails former President Trump by just four percentage points in a hypothetical head-to-head matchup, with 46% supporting Trump, 42% supporting Biden, and 12% undecided. Both parties’ pollsters suggest that Trump’s lead might have been more significant if not for reservations about the former president.
Regarding the Israel-Hamas conflict, the survey highlights a clear partisan divide, with 57% of Republicans favoring support for Israelis compared to 29% of Democrats and 27% of independents. In contrast, 44% of Democrats and 47% of independents prefer an evenhanded approach.
When comparing this survey with one conducted in 2014, it’s apparent that Americans aged 35 and older are more inclined to support Israel now than in the past, with substantial growth in senior support. Among those aged 18 to 34, 46% believe both sides should be treated equally, while 11% support Palestinians, marking a shift from 2014.
In terms of government funding priorities, Republicans and independents prioritize securing the U.S.-Mexico border, followed by military funding for Israel. Democrats, on the other hand, prioritize military aid for Ukraine, followed by foreign humanitarian assistance.
The CNBC survey was conducted with 1,001 Americans from October 11th to October 15th and has a margin of error of plus or minus 3.1%.
