CNN Polling Shows Public Disengaged from Infrastructure, Build Back Better Talks
At the end of September, HilltopSecurities cited polling data indicating that while infrastructure legislation was popular, many thought it was too expensive.
Recent polling done for CNN from Oct. 7 to Oct. 11 helped show how the public is viewing the importance of fiscal policy currently being considered in Congress. The data indicated that the public in general is quite disengaged from what is happening as it relates to the bipartisan infrastructure bill and the budget reconciliation package.
According to CNN, “Few Americans, regardless of political affiliation, are raptly tuned into the congressional negotiations—just 16% of the public, including fewer than one-fifth in either party, say they've been following the news very closely, and 42% Americans say they haven't followed the story too closely, or at all.”
It’s possible that the majority of the U.S. population don’t believe that the bills currently being considered in Congress would impact their day-to-day lives.
CNN also stated that, “Highlighting the challenge facing Democrats trying to make a case for the bills, the poll finds relatively few see this package of an economic bill and an infrastructure bill as one that would help them personally. If Congress were to pass both bills, only about a quarter (25%) say their family would be better off, while 32% say they would be worse off and 43% say they would be about the same.”
These polling results are simply one more headwind Washington D.C. lawmakers face as they work through what could potentially be as much as $3 to $4 trillion of additional fiscal policy in the face of an economic environment seeing a supply and demand imbalance.
“Never forget that the point of high prices is to destroy demand, because supply can't keep up. So we face a choice: either increase the supply-side of the U.S. economy, or the demand-side will shrink to meet it,” said CNBC’s Kelly Evans.