Overview
- A Politico/Public First poll released in late May found 53 percent of Americans say the current cost of living is the worst they can remember and 46 percent hold President Trump fully or mostly responsible.
- Top-tier surveys including Economist/YouGov put Trump’s approval in the mid-30s, matching or nearing record lows for his presidency and signaling broad public disapproval on economic performance.
- Household distress is measurable: the share of credit-card balances 90 or more days delinquent rose 13.12 percent in the first quarter, the highest level in about 15 years, and multiple reports show roughly six in ten Americans cutting grocery and daily spending.
- The White House attributes price spikes to short-term wartime disruptions tied to Operation Epic Fury and shipping friction in the Strait of Hormuz, while senior advisers have publicly downplayed survey findings and called higher spending a sign of optimism.
- Polls show early erosion inside Trump’s coalition — nearly 18 percent of his 2024 voters say their finances worsened since he returned to office — a shift that analysts warn could translate into tangible midterm losses for Republicans.