Key Takeaways:
- 57% of Americans disapprove of President Trump’s handling of the economy, a record low for his presidency
- 70% of Americans say the cost of living in their area is unaffordable, including nearly half of Republicans and three-quarters of independents
- 57% of Americans have a more negative view of what’s to come in the year ahead, while 43% are more optimistic
- The price of goods remains the biggest economic concern for Americans, with 45% listing it as the most pressing issue
- More than half of Americans are concerned that they will be unable to pay for needed health care services next year
Introduction to Economic Concerns
The latest PBS News/NPR/Marist poll reveals that Americans are growing increasingly concerned about the state of the economy, with a record-low 36% of respondents approving of President Trump’s handling of the issue. This is a significant drop from previous polls, and it’s likely to have a major impact on the president’s overall approval rating, which has fallen to 38%. The poll also found that 57% of Americans disapprove of Trump’s handling of the economy, with 70% saying that the cost of living in their area is unaffordable. This includes nearly half of Republicans and three-quarters of independents, indicating that the issue is not limited to one party or demographic.
Economic Pessimism
The poll also found that Americans are becoming increasingly pessimistic about the future, with 57% of respondents saying they have a more negative view of what’s to come in the year ahead. This is a reversal from a year ago, when the majority of Americans felt hopeful about the future. The price of goods remains the biggest economic concern for Americans, with 45% listing it as the most pressing issue. This is more than double the number of people who named other economic concerns, such as housing costs, tariffs, job security, or interest rates. Furthermore, the poll found that 43% of Americans say they are more optimistic about the future, indicating that there is still a significant portion of the population that is hopeful about the economy.
Trump’s Handling of the Economy
President Trump’s handling of the economy has been a major factor in his low approval ratings. The poll found that 57% of Americans disapprove of his handling of the economy, while 36% approve. This is the lowest approval rating Trump has received on the economy since taking office. The president’s repeated claims that concerns about affordability are a "con job" perpetrated by Democrats have also been met with skepticism by many Americans, including some Republicans. Rep. Marjorie Taylor Greene, R-Ga., told PBS News Hour that "affordability or the lack of ability of Americans to afford the cost of living is not a Democrat hoax." Greene pointed to record credit card debt as one factor in the continuingly unstable economy.
Midterm Elections
The poll’s findings could have significant implications for the midterm elections, with registered voters saying they are more likely to trust Democrats to handle the economy. The poll found that 40% of registered voters say Democrats would do a better job on the economy, compared to 35% who say Republicans would. Independent voters gave Democrats an 11-point edge on the issue, although the margin of error for that group was 6.2%. This is a dramatic reversal from September 2022, when Republicans held a 15-point advantage on the economy with voters overall and a 23-point advantage with independents. The shift in public opinion could potentially perilous for Republicans in next year’s midterm elections.
Personal Finances
The poll also found that many Americans are struggling to make ends meet, with 35% saying their family finances have gotten worse in the last year. Another 44% say things have mostly stayed the same, while 21% say their finances have improved. The poll also found that 39% of Americans say the economy is working well for them personally, while 33% expect their financial situation to improve next year. However, 29% believe things will get worse, and 39% expect their situation to stay the same. For example, Roger Chester, a 48-year-old independent from Illinois, said he has had to work seven days a week to support his family and make ends meet.
Health Care Concerns
The cost of health care is another major concern for Americans, with more than half of respondents saying they are worried about being able to pay for needed health care services next year. The poll found that 67% of people who make under $50,000 are concerned, compared to 47% of those who make above $50,000. There are also significant racial and age disparities, with 69% of Black voters and 65% of Latino voters expressing worry, compared to 47% of white respondents. The expiration of enhanced subsidies for the Affordable Care Act at the end of the year is likely to exacerbate these concerns, with average monthly premiums expected to double and millions of Americans expected to drop coverage altogether.
Conclusion
The latest PBS News/NPR/Marist poll paints a concerning picture of the state of the economy and Americans’ views on the issue. With 57% of Americans disapproving of President Trump’s handling of the economy and 70% saying the cost of living is unaffordable, it’s clear that the issue is a major concern for many people. The poll’s findings could have significant implications for the midterm elections and the president’s overall approval rating. As the economy continues to be a major issue for Americans, it’s likely that we’ll see continued debate and discussion about the best ways to address these concerns and improve the economic situation for all Americans.
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