Trump's Economic Numbers Collapse as Voters Blame His Agenda Ahead of Midterms
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Fresh polling shows President Trump’s handling of inflation and the economy drawing overwhelming disapproval, fueling anxiety inside the Republican Party as the midterm elections loom.
President Trump’s economic approval ratings have slumped to the weakest point of his second term, with inflation standing out as the dominant concern for voters as midterm elections draw near. A new NBC News poll found that 53% of Republicans are dissatisfied with the state of the economy, and only about 25% of all voters approve of Trump’s handling of inflation, while 70% disapprove, according to an average of recent polls compiled by Nate Silver. RealClearPolitics reported a 70.4% disapproval rating for Trump’s management of prices, a leading issue for many voters.
The economic frustration reaches beyond inflation to trade and taxes, where Trump posts a net rating of –29.7% on trade and –31.1% on the overall economy, both worse than his overall net approval of –22.6%. Ipsos summarized its findings by saying that “American consumers have grown more and more disenchanted with the economy and the Trump administration,” and said disapproval of his economic handling has nearly doubled since his inauguration.
Democrats are making gains, with a Focaldata-Financial Times poll showing 47% of respondents believing Democrats would manage inflation better, compared with 34% for Republicans. Still, 20% of voters remain undecided or think neither party would improve the situation. On taxes, a Washington Post-ABC News-Ipsos poll gave Democrats a seven-point advantage, despite Trump’s claim that his tax legislation delivered the largest cuts in history.
Trump has brushed off unfavorable polls as wrong and, at a rally in Mississippi, predicted a Republican victory based on what he described as a booming economy. The Harvard CAPS/Harris Poll recorded October approvals for inflation, tariffs and the economy at their lowest of the year, with only 27% saying the economy is on the right track. NBC reported that three-quarters of voters expressed dissatisfaction with the economy and half called for “a great deal” of change, a new high in its polling.
Among Trump supporters, a Politico poll found that 54% cite the cost of living as their top issue, attributing high gas prices to the war in Iran and tariff policies. The mounting economic concerns are emerging as a major warning sign for Republicans heading into the November elections.