Despite positive economic indicators like low unemployment and declining inflation, Democrats express increased pessimism about the U.S. economy following Donald Trump's election victory. Republicans remain cautious but hopeful for stronger growth under Trump's presidency. A new poll suggests that Americans' economic outlook is more influenced by political power than underlying economic trends.
FILE - A hiring sign is displayed at a hair salon in Vernon Hills, Ill., March 28, 2023. WASHINGTON — The unemployment rate is healthy and the stock market is up, but Democrats are feeling more pessimistic about the U.S. economy after Donald Trump ’s election victory, according to a new poll.
“Next year, if Trump gets his tariffs, prices are going to go up and things are going to be more costly,” said Karen Claussen, 77, who lives in suburban Columbus, Ohio, and voted for Democrat Kamala Harris in November’s election. “I don’t see any hope right now. No, I’m very worried.” Perhaps because the poll was conducted with Biden still in office, just 16% of Republicans say the nation’s economy is good right now. But they see positive change on the horizon: About 7 in 10 Republicans say 2025 will be a better year than 2024 for the U.S. economy.in large part because of dissatisfaction over inflation, a global phenomenon coming out of the pandemic that raised prices for groceries, gasoline, cars and housing.
Spratley is on disability, and he said his family is getting less in food aid at a time when affordability has become a problem. He voted for Trump even though he thinks the former president cares more about the wealthy than about people like him. Among Republicans who already hold a negative view of the economy, about 7 in 10 expect next year to be better. Only about 4 in 10 independents who see the economy as weak say it will improve. And about 1 in 10 Democrats who currently think the economy is weak say it will advance next year.
He has threatened universal tariffs against partners such as Canada and Mexico, as well as geopolitical rivals such as China, unless those nations conduct their policies on trade, immigration and other matters to his liking. He would also like to renew and expand parts of his 2017 tax cuts that are set to expire, but that could incur a higher level of debt that could hinder growth.
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