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Most Americans Give Trump Poor Marks on the Economy, New Poll Shows

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A large majority of Americans are dissatisfied with President Donald Trump’s handling of the economy, according to a new CBS News/YouGov poll released Sunday. The survey found widespread concern over inflation, rising prices, and how the administration is spending its time addressing the issue.

Low Approval on Economic Leadership

Only 36% of U.S. adults approve of Trump’s approach to managing the economy, while 64% disapprove, the poll shows. When asked whether the president is dedicating enough time to dealing with inflation and economic challenges:

77% said he is not spending enough time
18% said the time spent is adequate
5% said he is spending too much time

The public also sees Trump’s policies as a contributing factor to price increases. Sixty-five percent of respondents believe the administration’s policies are causing grocery prices to rise, while just 14% said they believe Trump’s agenda is driving prices down.

Americans Still Feeling the Pinch

While the administration has touted improving economic numbers, most Americans say they aren’t seeing relief in their day-to-day expenses. When asked about price direction in recent weeks:

58% said prices are still rising
31% said prices are holding steady
11% believed prices are falling

Only 32% of Americans described the current economy as “good,” highlighting just how tough public opinion remains.

White House Defends the Record

Despite the negative polling, the administration insists progress is happening. In a statement to the Daily Caller News Foundation, White House spokesman Kush Desai said Trump is committed to reversing the economic problems of the previous administration:

“Putting Joe Biden’s economic disaster behind us has been the top priority for President Trump since Day One… Americans can rest assured that President Trump is focused on ensuring that the best is yet to come.”

Trump has also pointed to falling prices in certain categories. At a Nov. 17 speech at the McDonald’s Impact Summit, the president claimed:

Breakfast prices have fallen 14%

Bread and dairy prices are down

Egg prices have dropped 86% since March

He argued that the current administration inherited an affordability crisis and is now “ending it.”

Photo credit: Gage Skidmore via Flickr

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Trump Announces Deal for U.S. Steel to Remain in America

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President Donald Trump on Friday cleared the merger of U.S. Steel and Nippon Steel, after the Japanese steelmaker’s previous bid to acquire its U.S. rival had been blocked on national security grounds.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy,” Trump said in a post on his social media platform Truth Social.

U.S. Steel’s headquarters will remain in Pittsburgh and the bulk of the investment will take place over the next 14 months, the president said. U.S. Steel shares surged more than 20% to close at $52.01 per share after Trump’s announcement. (Read more from “Trump Announces Deal for U.S. Steel to Remain in America” HERE)

Treasury Secretary Says Growing Recession Fears Are ‘Media Driven’

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Treasury Secretary Scott Bessent said Sunday that the American public’s growing recession fears are largely “media driven.”

Bessent disputed recent headlines which claimed that the Dow Jones Industrial Average is headed for its worst April since 1932, stating that the stock market is bouncing back after its major drop earlier in the month. A poll conducted by ABC News, The Washington Post and Ipsos found that 72% of Americans believe it is “likely” that President Donald Trump’s tariffs will cause a recession.

“When I look at some of the things that are being published, there was a story 10 days ago that said, ‘this is the worst April for the stock market since the Great Depression.’ Ten days later, the NASDAQ is now up in the month of April, and I haven’t seen a story that says, ‘oh, the stock market has seen [its] biggest bounce back ever.’ So, I think a lot of this is media driven,” Bessent said on ABC’s “This Week.”

The Wall Street Journal issued a stark warning about the stock market in its April 21 piece, “Dow Headed for Worst April Since 132 as Investor Sent ‘No Confidence’ Signal,” stating that Dow Jones Industrial Average dropped by almost 1,000 points. The article further stated that the S&P 500’s performance since Jan. 20 is the worst for any president since 1928.

After an plunge April 21, the stock market surged 1,016.57 points, or 2.66% the following day while the S&P 500 and NASDAQ rose 2.51% and 2.71%. The market continued to bounce back throughout the remainder of the week, with the S&P 500 and NASDAQ gaining 4.6% and 6.7% by Friday, according to CNBC. (Read more from “Treasury Secretary Says Growing Recession Fears Are ‘Media Driven'” HERE)

Dramatic Selloff Of U.S. Bonds Hits, Investors Worried About U.S. Economy

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On Wednesday, in an apparent response to the latest tariff increase by President Donald Trump on China to 104%, the yield – or interest rate – on the benchmark 10-year U.S. Treasury bond rose again, possibly spurring a cut in interest rates by the Federal Reserve.

“The exodus from longer-dated US Treasuries accelerated, fueling the biggest selloff since 2020 in what are supposed to be the world’s safest assets,” Yahoo Finance reported. U.S. Bonds are backed by the government, and the U.S. economy has been the strongest in the world for decades, so investors think the government will not default on them, making them a safe proposition. But they become less valuable as inflation rises, and some investors have been voicing concern that inflation may well result if President Trump’s tariffs are too harsh and are left in place.

On Monday, JP Morgan Chase CEO Jamie Dimon warned of inflationary pressure, saying, “Whatever you think of the legitimate reasons for the newly announced tariffs — and, of course, there are some — or the long-term effect, good or bad, there are likely to be important short-term effects. We are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases for domestic products. Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

“This is a fire sale of Treasuries,” Calvin Yeoh of Blue Edge Advisors said. “I haven’t seen moves or volatility of this size since the chaos of the pandemic.” (Read more from “Dramatic Selloff Of U.S. Bonds Hits, Investors Worried About U.S. Economy” HERE)

Whoopi Goldberg Claims Trump Ruined Biden’s Wonderful Economy Without Once Mentioning High Prices

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“The View” co-host Whoopi Goldberg claimed Tuesday that President Donald Trump ruined former President Joe Biden’s economy without once mentioning high prices or the record high deficit.

Goldberg argued that Trump inherited a “very robust” economy, crediting the Biden administration for adding nearly 16 million jobs to the U.S. economy, though she failed to mention this was largely a result of the U.S. recovering from the COVID-19 pandemic. The co-host also did not mention that inflation rose to a peak of 9% during the Biden administration and that the deficit reached record-breaking levels largely due to the previous White House’s high spending.

“Let me just remind you about the Biden economy, okay?” Goldberg began. “The economy added 16.6 million jobs and gross domestic product grew 12.6%. They are the only administration in history to have created jobs every single month. But wait, there’s more. They achieved the lowest average unemployment in 50 years. Wealth adjusted for inflation rose a record 37% for the median American household and Americans filed a record 21 million new small business applications, the most in any presidential administration.”

“[Trump] came in to a very robust, there were issues, there’s always going to be issues, but you can’t blame all of what’s happening on [Biden],” Goldberg continued.

(Read more from “Whoopi Goldberg Claims Trump Ruined Biden’s Wonderful Economy Without Once Mentioning High Prices” HERE)

America’s Top Bank CEO Warns Biden’s Inflation Crisis Not Over

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Jamie Dimon, the CEO of JPMorgan Chase, issued a sober warning for the U.S. economy in his annual letter to investors this week.

Dimon pointed to wars breaking out in Europe, the Middle East, and growing tensions with China as major drivers to economic uncertainty which have helped fuel “higher energy and food prices, inflation rates and volatile markets.”

The crises on the foreign policy front are largely a reflection of President Joe Biden’s weakness on the world stage as America’s adversaries have felt that they have more latitude in what they are able to get away with under the current administration, critics say.

“It is important to note that the economy is being fueled by large amounts of government deficit spending and past stimulus,” Dimon said. “There is also a growing need for increased spending as we continue transitioning to a greener economy, restructuring global supply chains, boosting military expenditure and battling rising healthcare costs. This may lead to stickier inflation and higher rates than markets expect. Furthermore, there are downside risks to watch.” (Read more from “America’s Top Bank CEO Warns Biden’s Inflation Crisis Not Over” HERE)

Living on $100K? Not Enough in These 15 Cities Considered ‘Lower Middle Class,’ Study Finds

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Earning $100,000 annually may seem substantial, but for residents in 15 major cities across the United States, it falls short of elevating them beyond the lower middle class, according to a recent study by GOBankingRates.

Arlington, Virginia, emerged as the city with the highest income threshold to escape the lower middle class, requiring individuals to earn between $91,591 and $152,652. San Francisco and San Jose in California secured the second and third spots, with income caps for the lower middle class set at $151,877 and $151,122, respectively.

Financial advisers highlight the impact of high living costs in these cities, attributing the challenge to factors such as housing, transportation, healthcare, education, and overall lifestyle. Northwestern Mutual financial adviser Rodney Griffin noted that while $150,000 may be considered a comfortable salary in certain areas, increased demand and competition can drive up the cost of living.

Jersey City, New Jersey, emerged as the U.S. city where a $100,000 annual income would come closest to lifting individuals out of the lower middle class, requiring $101,279. Chesapeake, Virginia, followed closely behind with a lower middle class cap at $103,003.

Other cities where a $100,000 income would not surpass the lower middle class include Irvine, San Diego, and Oakland in California, Seattle in Washington state, Gilbert, Chandler, and Scottsdale in Arizona, Plano in Texas, Washington, D.C., and Anchorage, Arkansas. Notably, six of these major cities are in California, while two are in Virginia.

The study sheds light on the financial challenges faced by residents in these metropolitan areas, where the cost of living continues to outpace income levels. As economic factors, such as increasing mortgage rates, impact housing affordability, individuals in these cities find themselves grappling with the constraints of the lower middle class despite earning a six-figure income.

News Anchor Admits He Could Not Find a Single Person Outside of New Hampshire Grocery Store Who Feels ‘Good About the Economy’

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“CBS Mornings” co-host Tony Dokoupil reported how he and his team couldn’t find anybody outside a New Hampshire grocery that was “feeling good about the economy.”

While previewing an upcoming CBS News segment set to air on Sunday, Dokoupil mentioned how people complained about higher food prices, despite macro signs that the economy is improving.

The co-host made the claim while President Biden continues to try and sell his economic achievements — aka “Bidenomics” — ahead of the 2024 presidential election.

While speaking to local New Hampshire CBS anchors, Dokoupil reported, “People are really bummed out about the economy here in New Hampshire. Even if the overall big picture numbers are going in the right direction, and even if people’s own personal experiences in general are going okay, there’s a lot of gloom.”

Noting why, he said, “Food prices, for example, are generally going up. And we talked to a bunch of people outside of a grocery store in Derry, New Hampshire — we couldn’t find anybody feeling good about the economy.” (Read more from “News Anchor Admits He Could Not Find a Single Person Outside of New Hampshire Grocery Store Who Feels ‘Good About the Economy'” HERE)

Photo credit: Gage Skidmore via Flickr

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World Bank Issues Grim Warning: Global Economy Faces Worst Half-Decade of Growth in 30 Years (VIDEO)

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The World Bank has sounded the alarm, predicting that the global economy is hurtling towards its bleakest half-decade of growth in thirty years. In its Global Economic Prospects report released on Tuesday, the World Bank forecasted a slowdown in global growth for 2024, dropping to 2.4 percent from the 2.6 percent recorded in 2023. While this is concerning news, the report also indicated a potential upturn, anticipating growth to rebound to 2.7 percent in 2025.

The warning comes amidst geopolitical tensions, with conflicts such as the Russian invasion of Ukraine and unrest in the Middle East, raising concerns about their impact on energy prices and subsequently affecting inflation and economic growth.

Ayhan Kose, the World Bank’s deputy chief economist and director of the Prospects Group, highlighted the potential repercussions of ongoing conflicts, stating, “Escalation of these conflicts could have significant implications for energy prices that could have impacts on inflation as well as on economic growth.”

The report emphasized the need for a “major course correction” to avoid labeling the 2020s as “a decade of wasted opportunity.” It urged nations to address economic challenges promptly to prevent prolonged negative consequences.

This grim outlook aligns with earlier warnings from the World Bank in January 2023, where it anticipated the global economy dangerously inching towards a recession. The report, highlighting weaker growth in major economies like the United States, Europe, and China, revealed a significant cut in the forecast for global growth in 2023 from three percent to just 1.7 percent.

If this forecast holds true, it would mark the third-weakest annual expansion in three decades, trailing behind the deep recessions triggered by the 2008 global financial crisis and the 2020 coronavirus pandemic.

As the global economy faces challenging headwinds, policymakers and leaders around the world will need to collaborate to steer a course that averts prolonged economic setbacks and ensures a more optimistic trajectory for the years ahead.

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Poll Reveals Financial Strain: 4 in 10 Americans Report Deteriorating Finances

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A recent survey conducted by Rasmussen Reports unveils the economic concerns of Americans, with more than four in ten (41 percent) stating that their personal finances have worsened in the past six months. The findings shed light on the financial challenges faced by a significant portion of the population in Biden’s America.

According to the survey, 32 percent of respondents anticipate a further decline in their personal finances, while 25 percent expect improvement. Meanwhile, 36 percent foresee their financial conditions remaining the same. The report indicates that only 17 percent of respondents reported an improvement in their finances over the past six months, with 38 percent stating that their situations have remained relatively stable.

In terms of bill payments, the survey reveals that 28 percent of American adults have been late at least once in the past six months when making major monthly payments such as rent, mortgage, car payments, or utility bills. In contrast, 65 percent report not missing any payments during this period.

The survey highlights demographic variations in financial experiences. For instance, 25 percent of whites, 40 percent of blacks, and 28 percent of other minorities have experienced late payments on major bills in the past six months. Additionally, the report notes that adults under 40, particularly men in this age group, are more likely than their elders to have made late payments, although older Americans are more likely to report a worsening personal financial situation.

Political affiliation also plays a role in respondents’ perceptions. Democrats (26 percent) are more likely than Republicans (16 percent) and unaffiliated voters (nine percent) to state that their financial situation has improved in the past six months. However, Democrats (36 percent) are also more likely to report being late on a major payment compared to Republicans (28 percent) and unaffiliated voters (20 percent).

Married adults and those with children at home express greater concern about the future, expecting their finances to worsen in the next six months. Predictably, respondents with annual incomes above $100,000 are more likely to report improved finances, while those earning under $50,000 indicate a decline.

Photo credit: Flickr

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