Biden won the presidential election in 2020 with a record 80 million votes. He began his term with an approval rating of 56%, but it has dropped to 42% as the American population reflects on Biden’s performance. On the first anniversary of his presidency, we examine his achievements so bettors can better understand the Democrats’ odds of success in the 2022 midterm elections.
The Pandemic
Biden’s first challenge on entering the White House was the pandemic. A successful vaccination and testing campaign was launched, which has resulted in about 75% of the US population having one dose, and 63% becoming fully vaccinated. A subsequent booster program has administered 80 million doses to protect against Omicron, alongside access to free home tests.
The President’s early successes were widely praised, with clear communication and an organized response that followed the scientific advice. But a year on, the death rate has passed 850,000 and opposition to vaccination and mask-wearing mandates remains. Biden has encountered a decline in his COVID approval ratings, but will this be reflected in the online sportsbooks?
The Economy
When Biden took charge of the US, the pandemic had ravaged the economy, with Americans facing massive unemployment due to lockdown restrictions. In March, Congress passed Biden’s $1.9 trillion economic relief bill to help Americans impacted by the Covid-19 pandemic. In November, a key part of Biden’s economic agenda was signed into law. The $1.2 trillion infrastructure bill will invest in America’s aging infrastructure, upgrading and repairing roads, rail lines, and other transportation networks.
One year on, the economy has recovered and the American workforce is better off. During his first year, wages have grown at the fastest pace in four decades, and the unemployment rate fell from 6.4% to 3.9%.
Yet 60% of the public disapprove of the President’s handling of the economy. Plus, inflation is at 7%, the highest rate since 1990, meaning 72% have a negative view of his control of the cost of essential goods. With the midterm elections in 2022, Biden needs to see inflation start to fall and the $1.2 trillion infrastructure funding to reach communities quickly and efficiently so that people see benefits before November.
Immigration
Trump left the Biden administration with a humanitarian crisis on the southern borders. In May, levels were at a 20 year high, with over 180,000 migrants intercepted by the US authorities trying to cross the border. Republicans blamed Biden for abandoning the construction of the border wall and repealing certain immigration laws.
The President stopped the separation of migrant families and the detention of children at the border. However, Biden maintained the Trump policy that can automatically expel undocumented asylum seekers in order to stop the spread of Covid-19. In the first 12 months of the Biden administration, the policy has been used to expel one million migrants. Public health experts argue that there is no scientific reason for this policy. Overall, 54% of the US voters think Biden’s handling of immigration has been poor, but will the political betting odds with the online sportsbooks agree?
Afghanistan
In August, Biden deployed 6,000 troops to take control of Kabul airport to allow the evacuation of US nationals and 120,000 Afghan people wishing to flee the Taliban regime. The withdrawal of troops from Afghanistan was the end to Biden’s ‘forever war’ with which 70% of the American population agreed. What they didn’t agree with was the chaos that ensued and the immediate collapse of the Afghan forces, which the US had trained and funded.
Biden was criticized at home and by his allies. Trump called it “the single greatest humiliation in our history” and called for Biden to quit. The White House said they hoped that the nation would be thankful for Biden’s accomplishment and forget the details of how it ended as the situation calmed.
But five months on, with the return of Taliban rule, many Afghan women and girls have lost the right to an education and employment opportunities. The Afghanistan economy is failing, and there is a present danger that millions could starve to death. The troops may have returned home, but Afghanistan might be an issue political bettors consider with the 2022 midterm elections.
Biden’s assessment of his first year was “we have done remarkably well”. He defended his record quoting low unemployment, the $1.9 trillion stimulus package, the $1.2 trillion infrastructure investment, and the millions of Americans who have been vaccinated.
For 2022, Biden faces more challenges, including battles with Democratic Senators to pass key policies on social spending and voting rights which Biden describes as crucial to the survival of democracy. The battle for control of Congress in the midterm elections is being prepared, with Biden stating, “go out and make the case in plain, simple language as to what it is we have done, what we want to do and why we think it’s important.”
Check out all of the latest midterm 2022 political betting odds
Philip Carlson is a gambling industry analyst based in NYC. He covers political global political betting markets and sports-betting for Vegas-odds.com
