Midterm Voters Live in Trump's Two Economic Realities
Summary
President Donald Trump’s administration has reported strong economic growth, rising stock markets, and a stable job market. However, most Americans feel the economy is not improving for them, especially due to higher gas and food prices, leading to low approval of Trump’s economic handling.Key Facts
- The U.S. economy grew at a 2.2% annual rate in the second quarter and is expected to grow more in the third quarter.
- The stock market indexes S&P 500 and Nasdaq have risen significantly this year.
- Only 26% of Americans approve of President Trump’s overall handling of the economy.
- Approval drops to 17% for Trump’s handling of the cost of living, the lowest in his presidency.
- Gasoline prices are about $4.47 per gallon, significantly higher than last year.
- Food prices have risen, with grocery prices up 2.2% and restaurant prices up 3.4% compared to last year.
- Trump promised a $5,000 payment to every adult if Republicans keep control of Congress, funded by tariff revenue, costing about $1.2 trillion.
- Trump and his advisers say the economy is doing well and claim polls understate this, but many Americans feel otherwise.
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