Recent polling shows President Donald Trump facing his lowest approval ratings for his economic management. According to a PBS News/NPR/Marist poll, 57% of Americans disapprove of Trump’s handling of the economy, a significant shift from when it was considered one of his strengths. Only 36% believe he is doing a good job, marking a low point during his presidency.
This decline in economic approval is reflected in his overall popularity, with only 38% of Americans supporting him as president—the weakest rating since his first term ended. “This is a major problem for him,” notes Lee Miringoff from the Marist Institute for Public Opinion. “When affordability weighs heavily on people’s minds, they blame the leader.”
Concern about rising living costs is widespread. The same poll revealed that 70% of Americans feel their cost of living is unaffordable. This includes nearly half of Republicans and three-quarters of independents. Just 30% of respondents find living costs manageable—a drop of 25 percentage points since June.
Amy Walter, editor of The Cook Political Report, adds, “If this situation persists, regaining public confidence will be tough.” Such sentiments are reminiscent of Biden’s struggles with economic perception when inflation surged in early 2022, leading to a similar dip in approval ratings.
Looking ahead to the upcoming midterm elections, the discontent could prove costly for Republicans, especially since Trump previously gained from voters’ economic dissatisfaction. Currently, 40% of voters believe Democrats could better manage the economy compared to 35% for Republicans. This marks a substantial turnaround from September 2022, when Republicans had a 15-point lead on economic issues.
New data reveals a growing concern regarding healthcare costs, as enhanced subsidies from the Affordable Care Act are likely to expire soon. Over half of Americans worry they might be unable to pay for necessary healthcare next year. This worry is particularly pronounced among lower-income groups, as well as among Black and Latino voters, with 67% of those earning less than $50,000 expressing concern.
Nonetheless, some positives have emerged. Two-thirds of Americans have shown decreasing anxiety about tariffs, with worries dropping 14 points since June. Additionally, the belief that the U.S. is in a recession has fallen to its lowest level since 2010, with only half of Americans thinking this is the case.
Despite these glimmers of hope, the economic strain remains intense. Many are grappling with rising prices for essentials. Sherry Kamphaus, a concerned Republican from Illinois, expresses frustration, citing unfulfilled promises to address rising food prices. She and countless others are simply trying to survive, stating, “There’s a difference between living and surviving.”
Trump’s approval situation can potentially shift; however, it hinges on his ability to address the everyday economic worries of Americans. Many voters are holding him accountable for the ongoing economic challenges they face.
