Trump's 'Golden Age' economy pitch loses traction; 30% approve his inflation handling
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President Donald Trump's 'golden age' economic pitch is colliding with voter anxiety over inflation less than three months before the US midterm elections, as only 30% approve his handling of prices in a new Economist/YouGov poll. Just 39% approve his job performance, according to the RealClearPolitics average, and Republican candidates in competitive races see the cost-of-living issue and the Iran war as political liabilities.
The Economic Pitch
President Donald Trump has argued that the 'golden age' he promised for America's economy is already here, with unemployment low, consumers spending, and signs of a manufacturing revival. But inflation has been back above 3% since late February, when the president went to war with Iran alongside Israel. Inside the White House, there is broad confidence in the economic record, while other Republicans, including people close to the president, want fresh economic plans such as further tax cuts expanding on last year's major GOP tax law.
Polling and Voter Sentiment
Only 39% of Americans approve of Trump's job performance, according to the RealClearPolitics polling average. Even fewer, 30%, approve of his handling of inflation. A new Economist/YouGov poll found a 31% plurality listed inflation and prices as their most important issue, 17 percentage points more than the second-place topic of jobs and the economy. Voters have focused on cost of living since prices surged under former President Joe Biden, and have concluded that Trump's second-term policies have not helped.
Republican Campaign Anxiety
With midterm elections less than three months away, Republican candidates in tight races are in "a Catch 22," said Marc Short, who served in the first Trump administration. They are reluctant to criticize the president because they think he will "come after them," but many voters want them to stand up for their interests on issues like trade, Short said. He added that Trump has achievements to highlight but "it's hard to argue that his tariffs are not contributing to the affordability problems." Unease among Trump's circle was laid bare Tuesday on Fox Business, when former National Economic Council Director Larry Kudlow interviewed his successor Kevin Hassett.
What's Next
Trump is expected to hammer his economic record from now until November, while some Republicans press for fresh tax-cut proposals beyond last year's law. It remains unclear whether he will adjust his message in time to lift the 30% inflation approval or protect GOP control of Congress.
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Trump's 'Golden Age' economy pitch loses traction; 30% approve his inflation handling
