A new CNBC poll shows that most Americans are pessimistic about the state of the economy and its prospects, and President Donald Trump‘s approval rating remains negative.
Despite the rapid growth of the stock market and improved inflation figures, Americans’ moods remain as gloomy as in the years following the pandemic. Many are increasingly concerned about the cost of everyday goods, according to the latest CNBC All-America Economic Survey. This is also reflected in President Donald Trump‘s ratings, while Democrats have only a slight advantage in voter preferences for control of Congress.
A poll of 1,000 adult Americans with a margin of error of ±3.1% showed that 61% of respondents pessimistically assess the current state of the economy and its prospects. This is the highest figure since December 2023, when the country was just beginning to emerge from the inflationary crisis after the pandemic. Only 25% of those surveyed positively assess the economic situation. “More voters expect the situation to worsen — 41% versus 29%, leaving the electorate in a clearly pessimistic mood ahead of the midterm elections,” said Public Opinion Strategies partner Mika Roberts.
Americans Cut Spending, Trump’s Rating Remains Negative
Due to high prices, 47% of Americans reported that they have cut spending even on essential goods, including food and medical services. This is six percentage points more than in April. Nearly two-thirds of respondents also spend money less often on restaurants, entertainment, and other non-essential purchases — five points more than in the spring. In addition, people are using credit cards more often and traveling less.
These results contrast with the recent drop in fuel prices and steady growth in U.S. retail sales. At the same time, the study’s authors suggest that national indicators may be largely supported by spending from the wealthiest households. Thus, 60% of people with an annual income of less than $30,000 said they are saving even on basic needs, while among those earning more than $100,000, only 35% are doing so.
Representatives of both polling companies that conducted the study note that even a noticeable drop in gasoline prices does not compensate for the effects of prolonged price increases in recent years for people. “People are still paying significantly more for things than a year and a half or two years ago, and this is fresh enough in memory to still cause pain and a lot of anger,” said Hart Research partner Jay Campbell. “When gasoline prices fall by 50 cents a month, it’s just not enough to compensate for the difference.”
President Donald Trump‘s approval rating has barely changed compared to the April poll. His actions are approved by 40% of Americans, while 59% disapprove. Regarding the president’s economic policy, 60% expressed disapproval, while 38% support his actions. The approval balance is -22, which is the worst figure in Trump‘s entire political career. Also, 63% of respondents disapprove of his actions regarding the war with Iran, and 68% disapprove of his policy on inflation and the cost of living.
Democrats Have a Slight Advantage
Despite dissatisfaction with the economic situation, the Democratic Party has only a 4-percentage point advantage in the fight for control of Congress — practically unchanged compared to April. “This means that the Democrats have an advantage five months before the elections, but it is not convincing,” said Campbell. “So far, this certainly does not look like an election wave.”
Pollsters also noted the increasing political polarization. Supporters of both parties are even more consolidated around their political forces and are increasingly reluctant to support opponents.
Half of Americans said they were unlikely to support a candidate from the Democratic Socialists, while 32% were willing to vote for him. Candidates who openly position themselves as MAGA supporters have even worse figures: 57% of voters said they would not support such a candidate.
The most important issue for most voters remains the cost of food. On this issue, Democrats have a 7-point advantage. The second place is held by “protecting democracy,” where the Democrats’ advantage is 3 points. At the same time, Republicans are ahead of their opponents by 22 points on the issue of immigration and border security — this is their best result among all issues. Democrats also have an advantage in housing (6 points) and the cost of medical care (18 points).
For Democrats, independent voters, women, and most income groups, the most important issue is food prices. The exception is the wealthiest Americans, who most often name “protecting democracy” as a priority. Republicans consider immigration the most important issue. Young voters aged 18–34 most often name housing affordability as the main problem — 46% versus 33%, who put food prices first.
One of the most noticeable changes was the assessment of the war with Iran. Only 48% of Americans believe that military action to prevent Iran from creating nuclear weapons is justified, while in April this figure was 53%. Instead, half of the respondents are convinced that such actions were not justified, compared to 44% in the spring. The approval balance of Trump‘s policy on Iran has dropped to -28.
Even among Republicans who do not belong to the MAGA movement, only 47% support the president’s actions regarding Iran, while 50% disapprove. Among MAGA supporters, support remains very high — 86%.
Source: CNBC
