Trump Gets Bad Economic News
A recent survey reveals a troubling reality for many Americans: their incomes are failing to keep up with the rapid pace of inflation. According to the CBS News/YouGov poll, released Thursday, a staggering 77% of Americans say their wages aren’t keeping pace with rising prices, while only 23% feel that their financial situation is keeping up with inflation.
The impact is especially severe among lower-income earners. Sixty percent of Americans making less than $50,000 annually report that their financial situation is poor. As income levels rise, this percentage decreases, with only 15% of those earning more than $100,000 feeling similarly burdened by their finances. This shows a clear economic divide that is widening between different income groups in America.
The survey highlights how personal financial outlooks often shape Americans’ broader views on the economy. When people feel financially strained, they are more likely to view the overall economy negatively. Former President Trump campaigned heavily on issues like inflation and the economy, which were critical in propelling his victory in the 2016 election. However, while inflation has continued to rise under the Biden administration, Trump has distanced himself from the issue, attributing the rise in prices to Biden’s policies.
Looking ahead, only 34% of respondents are optimistic about the economy, believing it will grow or boom in the next year. Meanwhile, 23% fear the U.S. economy could slip into a recession. A significant portion of Americans express concern about basic living costs—housing, groceries, debts, and saving money—which continue to put pressure on households across the nation.
As we head into another year of Biden’s presidency, 60% of Americans now consider the economy to be in bad shape, marking a 2-point increase from last year. With economic struggles deepening, it’s clear that Americans are increasingly dissatisfied with the current administration’s handling of the economy.
This survey, conducted among 2,340 adults from February 24-26, has a margin of error of 2.3 percentage points, further highlighting the economic anxiety felt by many in our nation today.
