Trump’s net approval on his handling of the economy is underwater by nearly 30 points, and voters trust Democrats more than Republicans to fix the economy
As Donald Trump’s reckless trade war and deadly and costly war with Iran continue to hike prices, new data shows consumer sentiment fell nearly 8% in the first half of August. Expectations for business conditions fell 11% in the short run and a whopping 17% in the long run, as consumers continue to anticipate high inflation. Meanwhile, only 8% of consumers expect their wage growth to exceed inflation in the year ahead.
Republicans reported the biggest month-to-month decline in their views of the economy. Sentiment among Republican voters is currently 19% below its level prior to the start of Trump’s war with Iran and the lowest since Trump was elected.
Consumers continue to shoulder sky-high costs: Since Trump took office, Americans have been forced to shell out more than $3,500 extra as a result of Trump’s disastrous policies, including $310 for groceries, $504 for gas, and $110 for electricity. A survey today also showed Trump’s housing market remains unaffordable, with 45% of respondents saying the market has gotten worse — the highest share in the survey’s history.
Trump’s job market is also in the gutter: The July jobs report released last week showed Trump’s economy shed 23,000 jobs in July, while jobs numbers for May and June were revised sharply down by a combined 103,000. Over the last three months, the economy has created approximately 200,000 fewer jobs than expected.
