President Biden loses approval rating: The problem is the economy

The Democrat party seems to realize that Biden's economic program has failed. It is trying to divert the attention of the people by pointing to the potential threat of the Republican party and former US president, Donald trump.

President Biden's support rating for President Biden is now quite low at only 33%, according to the latest poll. This is a consequence of America's general economic problems. Among them are high inflation and a certain stagnation of the economy after the crisis experienced. Biden is desperately trying to convince the electorate that everything is under control, but his actions only make things worse.

One of the main reasons for the loss of confidence is Biden's latest initiative. Earlier this year, he introduced a Labor Department regulation that threatens the gig economy, on which more than 70 million Americans depend for their livelihoods, according to the American Action Forum.

The regulation is scheduled to take effect in March. It significantly raises the threshold for companies to classify workers as independent contractors rather than employees. While the full implications are still unclear, it is safe to say that it will limit the freedom of those who value the flexibility of part-time work and force employers to downsize. This will already lead to a jobs crisis.

This format of work is particularly valued by women seeking a balance between career and personal life. With the new regulation, many of them will lose this opportunity. Patrice Onwuka, director of the Center for Economic Opportunity at the Independent Women's Forum, considers the rule "anti-woman, anti-flexible and anti-worker."

The new regulation, which replaces the one Trump passed and provides clarity on the classification of independent contractors, complicates the situation for companies seeking to classify workers as freelancers.

Biden's motivation appears to be tied to supporting supporters of Big Labor as he has struggled to get important pro-union legislation like the PRO Act passed. Having failed to accomplish this legislatively, he is resorting to executive action, betraying his promise to be "the most pro-union president ever."

This move negatively impacts the gig economy because independent contractors cannot be unionized. By restricting the use of such workers, unions lose organizational leverage.

Despite the administration's claims to protect workers and improve eligibility for benefits, the negative effects of the rule on various occupations such as truckers, artists, Uber drivers, and construction workers go unaddressed.

Johannes Röll

Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer

• finance

Comments 0