an economics reporter is they re using their credit cards more. why is that a problem? because a., interest rates are going up as you may know. but b., it creates problems down the road. potential defaults and also financial problems for people that are stretching to make ends meet and using their credit cards. so what may be pain now could be even more down the road. we found that something like 47% are doing at least four of the things we asked about in order to make ends meet including like driving less. all of that is going to show up we believe in the economic numbers in the months and quarters ahead. steve leesman, i thank you so much for being with us. up next, the new dominant strain of covid is driving up cases around the country. we re going to talk to a doctor about when you should be getting your next booster. you are watching jose diaz- balart reports on msnbc. watch- watch- balart reports on msnbc.
continue to rise at the fastest pace in 40 years. according to government data, prices were 9.1% higher last month than they were in june 2021. prices rose more than 1% between may and june driven by increases in the cost of gas and food. even though gas prices continue to fall and they fall constantly now, they have for the last couple of weeks. and the latest cnbc all america economic survey is telling us more about how people are feeling about the fate of the economy and how they are coping with the rising prices. cnbc s senior economics reporter steve leesman joins us now with the latest on that. steve, it s great seeing you. take us through the key findings here. reporter: so politically i d say the big finding is the drop again in president biden s both economic and overall approval rating. he s now at just 30% on approval on the economy. that s the lowest of his
0.7% compared to the last three months of 2016, the weakest quarterly showing in three years. gdp is the most comprehensive measure of the economy. cnbc s senior economic reporter steve leesman joins me now. before he clarifies, i m going to do it. steve, it s probably a bit unfair because we measure other things compared to the year before. if you look at gdp growth compared to the same quarter a year before, it s about 1.9%. not as bad as it looks this morning. the same it was all last year. this is short of the 3% that steve mnuchin says they re trying to get to. that s right. i mean, i m not sitting here putting the blame or credit to the president, in the sense that this is, you know, one month he wasn t in office. really, in a president says you ll have an effect on the economy, it ll come later. first of all, first quarter data has been anonymously weak for a
white house. steve, thanks for great analysis on that. i appreciate that. steve leeman is cnbc s senior economics reporter. great, steady head to explain these complex issues. thanks, buddy. thanks, ali. next, i ll talk to steve russell about the house vote to fund the government for another week. we ll be right back. like walking. hey, honey. dad, where s the car? thought we d walk. he s counting steps. walk, move and earn money. goal! dad. hey, we wanna welcome everyone to the father daughter dance. look at this dad, he s got some moves! money you can use on out-of-pocket medical expenses. he s ok, yeah! unitedhealthcare
sides of the aisle when it comes to their polities to ever get to 3%. here s what the key is for economic growth, how many workers you have and how many hours they work, and how productive they are. not really clear that a whole lot of washington policy can do very much, certainly not in the short run, about those things. they would say, if the president can get to 2.5% growth, it would actually be a huge accomplishment. i should think there are some things we can do better with policy that would have push growth up a little bit. but it would be wrong, i would think, to set your sights on 3% growth and the revenue that would come sounds like a recipe for a bigger deficit. the continuing resolution that keeps congress open for another week has just passed. 382-30. steve, to what degree does this bit of the government dysfunction, the idea they re there to have appropriations, to pay for things, it s actually congress s only job.