Everyday Americans are struggling to make ends in Donald Trump and JD Vance’s economy. According to new data released today, consumer sentiment in October dropped to the second lowest reading on record since the 1950s. A supplemental survey found that 70% of Americans say they will either cut back (54%) or stop (16%) buying things with particularly large price increases thanks to Trump’s reckless tariffs and deadly and costly war with Iran.
As Trump turns a blind eye to the financial pain he has caused American families, his approval ratings remain at an all-time low. A dismal 17% of U.S. adults approve of Trump’s handling of the cost of living, and even Republicans are souring on Trump’s economy, with consumer sentiment among Republicans plummeting at its fastest rate since the COVID-19 pandemic. Nearly 40% of voters say their personal finances are fairly or very bad, and for only the second time on record, more people say their family’s current financial situation is bad than good.
In response, DNC Deputy Communications Director Kendall Witmer released the following statement:
“Donald Trump and JD Vance’s reckless tariffs and never-ending war with Iran have made it nearly impossible for Americans to afford everyday essentials. Working families are dipping into savings or taking on debt just to put food on the table, fill up at the pump, and pay their medical bills — it’s no wonder they’re fed up with Trump’s economy. As consumer sentiment tanks with less than a month until the midterms, Trump and Vance refuse to help lower costs as they ignore their promise to ‘defeat inflation’ — and their desperate pleas to ‘give us another chance’ are not working with voters.”
Under Trump and Vance, the average American family has been forced to pay an additional $4,200 on everyday essentials from gas to groceries because of their reckless tariffs and deadly and costly war with Iran. Americans have been forced to spend an additional $107 billion on gas alone since Trump and Vance started their war with Iran, and a new forecast from the Trump administration this week shows that gas prices are expected to continue to rise and diesel will remain above $4 per gallon until at least 2028.
