Nearly 70% of US residents say the economy is getting worse, not better, in a new Suffolk University Sawyer Business School/USA TODAY poll that reveals Americans are reining in spending amid deep concerns about inflation and the cost of living.

The president and his allies have largely shrugged off polling that some point to as warning signs for his reelection bid — as concerns about the economy and other issues continue to circulate. 

Just a third of voters in the new poll said they approve of Biden’s handling of the economy, down three points from October, while 67 percent disapprove.  

Increased focus on deficit reduction; Republicans far more likely than Democrats to view it as a top priority