For nearly a year now, Americans have faced sharply rising inflation, and the latest numbers were further confirmation of that reality. via FiveThirtyEight
“The impact of economic indicators on presidential approval depends upon the attribution that the public makes for the cause of economic indicators getting better or worse,” said Krosnick. “In other words, what matters here is whether the president can reasonably be held responsible for what happened to gas prices, or anything else [can].”
In fact, higher gas prices resulting from foreign oil shocks haven’t always worsened presidential approval ratings. Take, for example,, which was caused by Iraq’s invasion of Kuwait on Aug. 2 of that year. Even as the price of oil spiked, former president George H.W. Bush’s approval jumped over 16 percentage points in less than a month as the international community swiftly condemned Iraq’s actions, and it rose again after the U.S.-led intervention in early 1991.
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