Executive Summary
- An AP-NORC poll found only 36 percent of Americans approve of President Trump’s handling of the economy, with 68 percent viewing the nation’s financial state negatively.
- A majority of Americans reported significant financial stress, particularly concerning grocery costs (54%), housing costs (45%), and insufficient savings or retirement funds.
- The survey was conducted during an ongoing government shutdown and revealed that 69 percent of Americans believe the country is headed in the wrong direction, though a separate CNBC poll indicated a higher 42 percent approval for Trump on the economy.
The Story So Far
- The current low approval for Donald Trump’s economic handling reflects widespread public pessimism stemming from significant financial stressors like high grocery and housing costs, and concerns over savings, despite Trump consistently emphasizing the economy as a central part of his political agenda. These polls were conducted against a backdrop of rising inflation and unemployment, and during an ongoing government shutdown, which political figures suggest is negatively impacting the real economy and contributing to chaos.
Why This Matters
- The AP-NORC poll indicates that widespread public pessimism and significant financial stress among Americans, particularly concerning grocery and housing costs, are undermining President Trump’s economic narrative, with only 36% approving of his handling. This disconnect between policy and public perception suggests his administration faces a substantial challenge in convincing the electorate of its economic effectiveness, potentially impacting future political dynamics and public support.
Who Thinks What?
- Americans, according to the AP-NORC poll, express widespread pessimism about the nation’s financial state, with only 36 percent approving of President Donald Trump’s handling of the economy and significant stress reported over grocery and housing costs, and savings.
- President Donald Trump consistently highlights the economy as a central focus of his administration and campaign, attributing electoral success to his economic policies and maintaining that measures like tariffs will ultimately benefit Americans.
- Political figures offer contrasting views, with Senator Bernie Sanders and Representative Don Beyer attributing economic struggles to the greed of the wealthy or intentional political chaos harming families, while Treasury Secretary Scott Bessent and White House press secretary Karoline Leavitt blame Democrats for downplaying economic impacts or causing government shutdowns that hurt the economy and Americans.
A new AP-NORC poll released Sunday indicates that only 36 percent of Americans approve of President Donald Trump’s handling of the economy. The survey, conducted between October 9 and 13, also found widespread pessimism regarding the nation’s financial state, with 68 percent of participants viewing the economy negatively. This sentiment contrasts with Trump’s consistent emphasis on the economy as a key component of his political agenda.
Economic Approval Trends
The latest approval figure represents a slight decrease from the previous month’s poll, which registered 37 percent approval for President Trump’s economic management. This follows a more significant dip from a similar survey in late August, where 43 percent of participants expressed approval.
Donald Trump has consistently highlighted the economy as a central focus of his administration and campaign. Following his 2024 electoral victory, he attributed his win in part to his policies concerning the U.S.-Mexico border and the economy, specifically referencing grocery costs.
Policy and Public Perception
President Trump has frequently implemented, paused, and reinstated various tariffs on U.S. trading partners. These measures, intended to curb immigration, drug trafficking, and reduce trade deficits, have at times contributed to market volatility. Trump has maintained that these policies will ultimately benefit Americans in the long term.
In addition to tariffs, the administration has modified several visa regulations for American employers, leading to discussions about job stability and broader workforce concerns.
Public Financial Stressors
The AP-NORC poll, which surveyed 1,289 adults, highlighted several areas of financial stress for Americans. More than half of respondents, 54 percent, identified grocery costs as a major source of financial strain, while only 12 percent said they were not a concern.
Housing costs were cited as a major stressor by 45 percent of participants, with 63 percent expressing a lack of confidence in their ability to purchase a new home if desired. Savings and retirement also emerged as significant worries; 44 percent found their current savings level a major stressor, and 52 percent lacked confidence in having sufficient funds for retirement.
Overall, 78 percent of adults reported experiencing major stress from at least one financial item, including housing, savings, groceries, healthcare, utility costs, taxes, and income. Concerns extended to the job market, with 47 percent of individuals not confident they could find a good job if needed, compared to 21 percent who were confident.
Broadly, the survey found that 69 percent of Americans believe the country is headed in the wrong direction, while 30 percent feel it is on the right track. The poll has a margin of error of plus or minus 3.8 percentage points.
Contrasting Data and Economic Context
While the AP-NORC poll shows 36 percent approval for Trump’s economic handling, a recent CNBC poll, conducted between October 8-12, indicates a 42 percent approval rating for Trump on the economy, with 55 percent disapproving. These surveys were conducted against a backdrop of rising inflation and unemployment in August, according to the Bureau of Labor Statistics, with inflation at 2.9 percent and the unemployment rate at 4.3 percent.
Political Commentary
The economic climate has drawn commentary from various political figures. Senator Bernie Sanders (I-VT) stated via an X post that the situation is about “the wealthiest people on earth who, in their insatiable greed, have hijacked our economy & politics to enrich themselves at the expense of working families.”
Treasury Secretary Scott Bessent, speaking on Fox Business, suggested that “the dirty secret here for why this has dragged on for so long is the Democratic friends in the mainstream media have been downplaying the shutdown. And this is getting serious. It’s starting to affect the real economy.” Representative Don Beyer (D-VA) wrote on X that the “chaos they [President Trump and Russ Vought] are causing is intentional and hurts American families, our economy, and the services we all depend on.” White House press secretary Karoline Leavitt, in an October 6 X post, criticized Democrats, asserting they “have closed our government, cost Americans their jobs, hurt our troops, harmed the economy, and caused chaos all to help illegals who broke into our country.”
Ongoing Government Shutdown Context
The AP-NORC survey was conducted during a government shutdown, which began on October 1. The ongoing impasse between Republicans and Democrats in Congress continues to have implications for Americans.
