Trump's Popularity Wanes as Americans Grow Pessimistic About Economy, Survey Finds

A significant majority of Americans are expressing growing concern over the economic situation and their personal financial futures, despite high stock market levels and falling fuel prices. The latest CNBC All-America Economic Survey reveals that 61% of respondents are pessimistic about the economy, the highest level recorded since late 2023, with only 25% reporting optimism.

The economic anxieties are translating into tangible spending cuts. The survey found that 47% of Americans have reduced their spending on essential goods and services, including food and healthcare. Furthermore, almost two-thirds of respondents have scaled back on non-essential expenditures such as dining out, entertainment, and other discretionary purchases. Reductions in travel and credit card usage are also being reported.

These financial pressures disproportionately affect lower-income households. The survey indicates that 60% of individuals earning less than $30,000 annually have been forced to cut back on essential spending, compared to 35% of those earning over $100,000. This widespread economic discontent is occurring against a backdrop of continued low approval ratings for President Donald Trump.

The survey shows Trump with a 40% approval rating, while 59% disapprove of his job performance. His economic stewardship is particularly criticized, with 60% of Americans disapproving of his handling of the economy. Inflation and the cost of living are also major concerns, with 68% disapproving of the administration's management of these issues. Even foreign policy, specifically the conflict with Iran, draws disapproval from 63% of Americans.

Despite the public's economic dissatisfaction, the opposition party has not fully capitalized on it. The Democratic Party holds only a four-percentage-point advantage in voter preferences for control of Congress, a margin unchanged since April. While Democrats are seen as more competent in managing the cost of food, housing, and healthcare, Republicans maintain a clear advantage on immigration and border security. Public support for military intervention in Iran has also seen a slight decline.