Declining Economic Approval for Trump Amid Rising Costs and Inflation
Nov, 20 2025
This shift undermines one of Trump's key political arguments: that he is more trusted than Democrats to handle economic issues. As economic dissatisfaction grows since his return to office in January, the poll suggests that Trump may be losing support on a historically strong issue for him. Economic concerns are increasingly prioritized by voters, reflecting widespread financial strain as prices for essential goods continue to rise.
The poll indicates that voters across political affiliations report higher costs for groceries, housing, utilities, and healthcare. Notably, 85 percent of respondents reported increased grocery bills, with 60 percent stating that these costs have risen significantly. Overall, 40 percent of respondents describe their household finances as good or excellent, while 60 percent report them as fair or poor, with particularly high negative assessments among younger voters, those without a college degree, and lower-income households.
On a national scale, 76 percent of voters rate economic conditions as poor or fair, and only 18 percent believe inflation is under control. The poll shows that voters increasingly hold Trump accountable for the current economic situation, with 62 percent attributing more responsibility to him than to Biden. This sentiment is echoed by 81 percent of Democrats, 42 percent of Republicans, and 62 percent of Independents.
Amid these economic challenges, Trump's approval rating regarding his economic leadership has reached a new low. In 2018, only 21 percent of voters felt his policies had harmed them, whereas now, voters indicate by a 31-point margin that his agenda has negatively impacted their financial situation. The rising costs of living, including new car prices averaging over $50,000, have exacerbated affordability concerns.
The New York Federal Reserve has reported that the national debt has surged to $18.6 trillion, the highest level in two decades, with mortgages, auto loans, student debt, and credit card balances reaching record highs. The U.S. Department of Agriculture's Economic Research Service noted a 2.7 percent increase in food-at-home prices over the past year.
In response to growing public frustration, the Trump administration has proposed new policies aimed at alleviating household financial pressures, including a plan for 50-year mortgages to reduce monthly payments for homebuyers. However, this proposal has faced criticism from within the Republican Party, with some arguing that it may ultimately benefit banks and lenders more than consumers. Housing economists caution that extending loan terms could lead to borrowers paying significantly more in interest over time.
Additionally, a Marist survey reported an overall approval of 39 percent for Trump, with a Marquette poll highlighting stark disapproval regarding economic management, with ratings of 36 percent approval for the economy, 37 percent for tariffs, and a mere 28 percent for inflation. Despite these challenges, Trump has publicly asserted that prices are decreasing, a claim contradicted by prevailing economic conditions.
Trump has also proposed distributing $2,000 stimulus checks to low- and middle-income Americans, funded by revenue generated from increased tariffs on imports. However, skepticism surrounds the plan's viability, with several lawmakers expressing doubts about its potential to pass through Congress. Critics argue that the tariffs have already increased costs for American consumers, contributing to an affordability crisis. Representative Joyce Beatty (D-Ohio) remarked that a one-time payment would not adequately address the ongoing financial challenges faced by many Americans. The feasibility of the rebate plan is further complicated by projected revenue from tariffs, which may not cover the costs of the proposed checks, potentially increasing the federal budget deficit rather than alleviating it.