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Friday 24 March 2023
Biden approval dips near lowest point: AP-NORC poll

Continued from Front economy is driven large-
ly by Democrats, 76% of
In recent months, approval whom say they approve
of Biden had been hover- of how he’s handling his
ing above 40%. job as president while 63%
Interviews with poll respon- approve of his handling of
dents suggest the public the economy. Few Repub-
has mixed feelings about licans approve of Biden on
Biden, who is expected either count.
to announce a reelection Democrats under the age
bid by this summer. When of 45 feel less positive about
it comes to the president, Biden, causing a drag on
people generally do not his approval ratings. Just
swing between the ex- 54% approve of the presi-
tremes of absolute loyalty dent’s economic leader-
and aggressive loathing ship, compared to 72% of
that have been a feature Democrats older than 45.
of this era’s divided politics. Similarly, just 66% of Demo-
“Neutral towards ap- crats under 45 approve of
prove,” Andrew Dwyer, 30, Biden overall, compared to
said of Biden. 85% of older Democrats.
“I don’t think he’s the best Ratings of Biden’s handling
at representing my position President Joe Biden arrives to speak in the South Court Auditorium on the White House complex in of foreign policy (39%) and
and issues. But I know being Washington, Dec. 8, 2022. climate change (41%) are
president involves compro- Associated Press about on par with his over-
mises.” ambitious steps to boost recent bank failures, as well A resident of Westland, all approval ratings. Seven-
Dwyer, a data analyst in the U.S. economy, with his as the debt limit showdown Michigan, he noted that it ty-four percent of Demo-
Milwaukee, said he voted $1.9 trillion coronavirus re- with House Speaker Kevin will take years to determine crats and 9% of Republi-
for the president in 2020 lief package from 2021, McCarthy, R-Calif., that whether federal infrastruc- cans approve of Biden on
and considers himself to be infrastructure investments, could put the U.S. govern- ture spending fulfills the foreign policy, while 67%
liberal. He acknowledged support for computer chip ment at risk of defaulting. promises made by Biden. of Democrats and 17%
the recent failures of the plants and taxes on corpo- Just 31% approve of Biden’s McComas said he believes of Republicans approve
Silicon Valley Bank and Sig- rations and the wealthy to stewardship of the national inflation is the direct result of his handling of climate
nature Bank, but he said help fund health care and economy, about where it’s of government spending change.
that the economy is adjust- a shift away from fossil fuels. been over the course of the to counter the pandem- Theresa Ojuro, a 29-year-
ing to higher interest rates But those efforts involve last year. His handling of the ic, a claim that Biden has old doctoral student in
set by the Federal Reserve multiyear investments that nation’s economic fortunes personally rejected when Rochester, New York, said
to combat inflation. have yet to provide much has been a weak point at asked by reporters. she “expected more” from
“We all got so used to optimism to a public deal- least since late 2021, when “We poured so much mon- Biden — “just a little bit more
cheap debt and the ability ing with annual inflation at the inflation that the ad- ey into the system — that’s stability with the economy.”
to throw money around,” 6%. The president and oth- ministration had suggested a little frustrating that we Ojuro, who voted for Biden
Dwyer said. He said there er administration officials was transitory became a were shocked that we got in 2020, also noted that the
were “pain points” caused have toured the country bigger pain point for busi- hit by inflation when a lot of bank failures are dragging
by higher borrowing costs to promote their achieve- nesses and families. our policies were inflation- down her sentiment, but
but that he thinks the pro- ments. Michael McComas, 51, vot- ary,” McComas said. she worries about how high
cess will “ultimately” lead But to many, the economy ed Republican in 2020 and The difference between taxes are in New York state
to a healthier economy. feels as though it could be described Biden as “not Biden’s approval overall relative to the benefits
The president has taken on a knife’s edge after the great — average, I guess.” and his approval on the provided.q

Lawmakers tell ex-CEOs ‘you must

answer’ for bank failures

The committee is exam- But the senators said they depositors rushed to with-
ining the events leading believe the CEOs can tes- draw money amid fears
up to the closures of the tify to Congress without about the bank's health.
banks, starting with the disclosing confidential in- It was the second-largest
first congressional hearing formation. Nor would the bank collapse in U.S. his-
on Tuesday. Separate let- executives need to hand tory. Regulators convened
A sign is displayed at a branch of Signature Bank in New York, ters were sent Thursday to over bank records and over the following week-
on March 13, 2023. Gregory Becker, the for- files to provide informative end and announced that
Associated Press mer head of Silicon Valley testimony, they said. New York-based Signature
Bank, and to Joseph De- Attorneys copied in on the Bank also had failed. They
By KEVIN FREKING at the failed Silicon Valley Paolo, the former head of letters sent to the CEOs did said that all depositors
Associated Press Bank and Signature Bank Signature Bank. not immediately reply to at both banks, including
WASHINGTON (AP) — that they expect them to Both CEOs had indicated requests from The Associ- those holding uninsured
Leaders of the Senate's testify before the panel, to the committee they ated Press for comment. funds, those exceeding
banking committee on saying in a letter to each: would be unable to at- Silicon Valley Bank, based $250,000, would be pro-
Thursday warned former "you must answer for the tend Tuesday's hearing, in Santa Clara, California, tected by federal deposit
chief executive officers bank's downfall." according to the letter. failed on March 10 after insurance. q