American voters are increasingly skeptical of the current administration's economic program. Fresh data from a large-scale survey conducted among registered voters records a sharp decline in confidence in the White House's financial policy. More than half of respondents (53%) directly stated that their personal financial situation has worsened since Donald Trump returned to the presidential seat.
Crisis of confidence within the party
The most alarming signal for Republicans is the erosion of support among their own electorate. Nearly 25% of surveyed Republicans acknowledged a deterioration in their material well-being, and the president's approval rating within the party plummeted by 8 percentage points in a month. Overall, dissatisfaction with Trump's performance reached 55% among all registered voters, with every fifth Republican also expressing disappointment.
The main stumbling block remains inflation and the rising cost of living. Economic policy in this area is disapproved of by 64% of respondents, and among independent voters this figure approaches a critical 70%. Two-thirds of respondents (67%) believe the economy is moving in the wrong direction, and only one in four holds the opposite view.
The macroeconomic backdrop is worsening
The numbers confirm citizens' pessimism. July inflation stood at 3.4% — higher than the level recorded at the end of Joe Biden's term. The consumer sentiment index has collapsed to near-historic lows, and real earnings have declined over the past month. Against this backdrop, Democrats gain an advantage ahead of the November midterm elections: 44% versus 39% for Republicans on key issues, including inflation and employment.
The White House, of course, is pushing back, claiming the administration is consistently implementing a course to lower drug prices, bring back jobs, and cut taxes, while also pointing to historic crime reduction and strengthened border protection. However, these statements have yet to resonate with voters, who assess the situation by their own wallets.
My analysis: The midterm elections will serve as a referendum on Trump's economic policy, and the current polls are a wake-up call for the White House. Markets, including the cryptocurrency market, will be closely watching these sentiments: further declines in support could intensify political uncertainty and volatility in the fourth quarter. Fresh inflation data due before November will be the decisive factor — whether it can shift voter sentiment or merely cement the current negative trend.