President Joe Biden touted the supposed benefits of "Bidenomics" when addressing supporters at a rally in Pennsylvania last month. However, the evidence suggests that most Americans aren't nearly as enthusiastic.

That's evident from the results of a devastating new poll which shows Biden trailing former President Donald Trump by five points. 

Poll shows Trump holds a 22-point lead over Biden on the economy

According to Fox News, the survey was commissioned by NBC News and carried out between January 26 and January 30 among 1,000 registered voters.

In addition to showing Trump as being five points ahead of Biden in the national popular vote, it also found that the former president enjoys considerably more trust on a number of issues.

When asked who they thought is better suited to handle the economy, 55% of participants selected Trump compared to just 33% who expressed a preference for Biden.

Trump also holds a 35-point lead on the question of which candidate is most capable of addressing the crisis along the southern border.

Biden lags 21 points behind Trump when it comes to tackling crime and violence and 11 points on improving America's standing on the world stage.

Biden's approval rating has dropped to a historic low

Trump is also 23 points ahead of Biden in terms of which of them is seen as having the necessary mental and physical health to function in the White House.

What's more, Biden's overall approval rating stands at an abysmal 37%, with a full 60% of voters saying they disapprove of his performance on the job.

Steve Kornacki serves as national political correspondent for NBC News, and he pointed out in a social media post that the president began his fourth year in office with lower approval numbers than any of his three predecessors.

Approval rating in NBC poll at start of re-election year:

George W. Bush (2004) 54%
Barack Obama (2012) 49%
Donald Trump (2020) 46%
Joe Biden (2024) 37%

— Steve Kornacki (@SteveKornacki) February 4, 2024

Democratic Pollster: Support for Biden "has evaporated"

That fact did not go unnoticed by Democratic pollster Jeff Horwitt, who carried out the survey alongside Republican pollster Bill McInturff.

"What is most concerning is the erosion of Biden’s standing against Trump compared to four years ago," Fox News quoted Horwitt as saying.

"On every measure compared to 2020, Biden has declined. Most damning, the belief that Biden is more likely to be up to the job — the chief tenet of the Biden candidacy — has evaporated," Horwitt went on to acknowledge.