President Joe Biden sought during his State of the Union address on Tuesday to reassure Americans that the economy is rebounding.
But many would not agree.
According to an ABC News/Washington Post poll released this week, about four in 10 Americans -- 41% --say they are worse off financially since President Biden took office.
That's a record low since the poll started 37 years ago.
Only 16% said they were better off under this presidency.
That could mean big trouble for the president should he seek re-election in 2024.
People choose their candidate for a variety of reasons. But how they're doing financially is alway the big one.
In 1991, President George H.W. Bush enjoyed a 90% approval rating after operation to free Kuwait after the invasion by Iraq. A year later, thanks to a mild but worsening recession, things changed. As political consultant James Carville famously summed up the strategy for Bill Clinton's successful 1992 challenge to incumbent President Bush, "It's the economy, stupid."
That may well be the same lesson in 2024.