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As 2026 approaches, the Trump administration paints a dazzling picture of the economy, projecting continued strength and prosperity. However, a recent wave of polls tells a different story: the economic mood among many Americans is, well, sagging.
This disconnect is critical, especially as the White House faces mounting pressure to tackle affordability ahead of key midterms. President Trump is confidently betting on his ‘big, beautiful’ economic policies to fuel growth, while strategically pointing the finger at his predecessor for any lingering financial woes.
The Public’s Perspective: A Dose of Skepticism
A new CBS News/YouGov poll reveals a significant point of contention: 61% of U.S. adults believe President Trump makes prices and inflation sound better than they truly are. His economic approval rating hovers at a modest 37%—only a marginal increase from the previous month in this survey of 2,300 adults.
Interestingly, respondents were more than twice as likely to attribute the current economic conditions to Trump’s policies rather than those of former President Biden. This suggests a clear public perception of accountability.
Reality Check vs. Rhetoric
While the administration projects optimism, economic indicators offer a nuanced picture. The Consumer Price Index showed signs of easing inflation in November. From September to November, the index for food prices saw a slight tick up of just 0.1%, which, as Axios’ Courtenay Brown reports, indicates a notable cooling in grocery price pressures. In a move reflecting these climbing food prices, the administration recently rolled back tariffs on key grocery items like coffee, beef, and tropical fruit, marking a retreat from its signature trade policy.
Beyond the Polls: Financial Giants Prepare for the Worst
The skepticism isn’t confined to public opinion polls. Even figures within the financial sector are expressing caution. The Financial Times reported that Apollo CEO Marc Rowan—a one-time contender for Trump’s Treasury job—has advised investors that his firm is actively cutting risk and accumulating cash, preparing for ‘when something bad happens.’
Official Responses and Public Expectations
Despite the public’s apprehension, administration officials remain steadfast. National Economic Council director Kevin Hassett, speaking on ‘Fox News Sunday,’ contrasted the administration’s stance: ‘They’ve got empty rhetoric. We’ve got rhetoric with substance.’ He predicted that Americans would ‘see it in their wallets. They’re going to see it in their bills,’ promising ‘huge tax refunds’ for seniors and certain workers, along with ‘a big plan’ for housing.
However, the CBS poll suggests a different public expectation: more respondents (45%) anticipate Trump’s policies will leave them financially worse off by 2026, compared to only 27% who expect to be better off.
Adding to this, an NPR/PBS News/Marist Poll survey last week found only 33% of residents believe their finances will improve in 2026, a sharp drop from 48% who held that optimism in June. Conversely, 29% predict their finances will worsen.
Grades on the Economy: A Tough Curve
While President Trump consistently gives his economy top marks, voters are grading on a much harsher curve. In the CBS poll, a mere 5% gave the economy an ‘A’. Twenty percent rated it a ‘B’, 26% a ‘C’, 25% a ‘D’, and a significant 24% handed out an ‘F’. Emerson College Polling’s last national survey of 2025 similarly found that while about 22% gave Trump an ‘A’ on the economy, 36% gave him an ‘F’.
Furthermore, over six in ten Americans feel the economy isn’t working well for them, according to an NPR/PBS News/Marist Poll survey, an increase from 57% in May of this year.
The Political Battle Ahead: Affordability Takes Center Stage
Democrats have recognized this widespread economic pain, centering their messaging around affordability—a term the president has controversially dismissed as a ‘con job.’ Heading into the midterms, Democratic leaders aim to make 2026 a referendum on the cost of living.
This strategy is already taking shape, with House Democrats, alongside a group of Republican centrists, securing support to force a vote on extending Affordable Care Act tax credits. While this proposal may be dead on arrival in the Senate, it opens the door for potential bipartisan discussions, with the critical issue of the cost of living at their core.
As House Minority Leader Hakeem Jeffries (D-N.Y.) stated on ‘ABC’s This Week,’ ‘As Democrats, we’re promising to focus relentlessly on driving down the high cost of living, to make life more affordable for everyday Americans, and to fix our broken health care system.’
With Trump’s economic approval rating hitting a record low of 31% in some polls, the disconnect between official optimism and public sentiment creates a fascinating and challenging political landscape for the coming year.
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