Biden’s presidency hits new Jimmy Carter administration lows
President Joe Biden’s term reached a new low in the Jimmy Carter era and is approaching a new low.
On Tuesday, the Dow Jones Industrial Average fell for the ninth day in a row, dropping 267 points, or 0.6 percent – something that hasn’t happened since February 1978, when 100-year-old President Carter was in office. CNN reported using FactSet data.
President-elect Donald Trump has often compared Biden and Carter, as both Democratic presidents faced inflation and a troubled Middle East during their terms in office.
Trump has insisted they are two of the worst.
“Jimmy Carter is happy because he had a brilliant presidency compared to Biden,” Trump joked during his campaign in April.
Carter served only one term as he lost his 1980 re-election bid to Republican President Ronald Reagan.
Biden dropped his re-election bid in July after a disastrous June debate with his successor, Vice President Kamala Harris, who lost to Trump in the general election last month.
As Biden nears the end of his term, his poll numbers are also approaching Carter’s.
President Joe Biden continues to be compared to President Jimmy Carter at Monday’s Hanukkah reception – with the Dow Jones reaching a Carter-era benchmark this week
President Jimmy Carter, who is now 100 years old, photographed with then-Senator. Joe Biden in 1978, the last time the Dow Jones Industrial Average fell nine days in a row
At this point in his presidency, Carter — and Trump, too — had poor approval ratings.
Gallup’s comparison tool shows that both Carter and Trump – who had lost re-election to Biden but spouted the so-called ‘big lie’ about his loss – were at 34 percent approval.
Biden’s approval rating is at 37 percent but is trending downward, so he will likely leave with the same — or worse — numbers than Carter.
Since leaving office four years ago — after the Jan. 6 attack on the Capitol — Trump has enjoyed a slow recovery in favor.
FiveThirtyEight currently 46.6 percent view Trump favorably, while 48.5 percent view him unfavorably, his best numbers in several years.
While the perceived sluggish economy hurt Biden — and subsequently Harris’ chances — the president is not to blame for the Dow Jones dip in recent days.
Trump might have more to do with it.
Shares of UnitedHealthcare Group are responsible for some of the biggest losses following the assassination of company CEO Brian Thompson.
But stocks plunged even more after Trump said at Mar-a-Lago on Monday that he would “knock out” the pharmaceutical industry middleman, according to CNN.
Despite the recent losses, the stock market is still doing well overall.
It’s up about 1,500 points since last month’s election day.
The Dow Jones hasn’t had a losing streak of more than 10 days since 1974, FactSet data shows, and that was during the Ford administration.