Republicans Face Midterm Test as Voters Sour on Trump Economy

More than 53% of registered voters say their finances have deteriorated since Donald Trump returned to the White House, according to a Financial Times poll.

The survey arrives less than three months before November’s midterms. Cost of living is now one of the key complaints among voters who trusted Trump on the economy in 2024.

Voters Sour on Trump Economy

The poll was conducted online by Focaldata from August 7 to August 10. It surveyed 1,913 registered voters and carries a margin of error of plus or minus 2.9 percentage points.

Almost 57% of independents said they felt worse off under the current president. Nearly one quarter of self-identified Republicans said the same.

Disapproval of Trump’s overall performance reached 55% among registered voters, including nearly 20% of Republicans. His net approval within his own party fell 8 points from the previous month.

The numbers are worse for prices. 64% disapproved of his handling of inflation and the cost of living, including almost seven in 10 independents.

Nearly two-thirds of registered voters said the economy was heading in the wrong direction. Just one in four said the opposite. Democrats led Republicans 44% to 39% among registered voters, with an edge on inflation and jobs.

Nonetheless, the White House has pushed back.

“The Trump administration continues to deliver on the President’s affordability agenda by lowering drug prices, reshoring American jobs, and cutting taxes while simultaneously touting a historic drop in violent crime nationwide and the most secure border in history,” White House spokesman Kush Desai said.

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Midterm Stakes for Republicans

The findings land as the November elections approach. Trump is not on the ballot. Midterms, however, generally function as a referendum on the sitting president’s leadership.

Inflation stood at 3.4% in July, higher than when Joe Biden left office. Consumer sentiment fell to a near-record low, and real wages declined last month.

Voters consistently rank inflation and the cost of living as the country’s most important issues. That makes the 64% disapproval figure the most damaging number for the White House.

Fresh inflation data arrives before November. It will test whether affordability improves in time to shift how voters judge the president.

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