President Donald Trump’s approval rating on the economy hit a new record low, with Americans drowning in the higher cost of living.
Just one in three voters, or 33 percent, approve of the way the president is handling the economy, the lowest it has ever been for both his first and second terms, according to new polling released Wednesday by Quinnipiac.
The new poll findings came as Trump continued to boast that the stock market was buoyant and that the country was “hotter” than ever.
64 percent of voters disapprove of how he’s handling the economy as the war rages on in Iran for more than two and a half months.
While the polling largely breaks along party lines, it’s not surprising that 97 percent of Democrats disapprove. But a whopping 70 percent of Independent voters also disapprove while 24 percent of Republicans now disapprove.
The president’s approval on the economy continues to slide, down from 38 percent in mid-April.
When it comes to the president’s approval overall, only 34 percent approve of the way he’s handling the job as president, another dip from the 38 percent in last month’s poll and the lowest level for his second term to date.
Last week, the president told reporters that he does not think of Americans’ finances at all when it comes to the war in Iran. But when the poll asked what the most urgent issue is facing the country, the economy was number one at 31 percent. International conflicts were listed as number one by just six percent of participants.
A growing number of Americans are finding it more difficult to afford gas as prices have soared back home after the U.S. began striking Iran.
45 percent of voters say it’s somewhat difficult or very difficult to afford gas, a double-digit increase from that question was asked in December when 29 percent said it was somewhat or very difficult to afford gas.
The national average for a gallon of gas was $4.55 on Wednesday, according to GasBuddy.com. It forecasts that the national average will hit $4.48 a gallon on Memorial Day, a dramatic increase from $3.14 a gallon for the holiday one year ago.
The forecasted average for gas this summer is $4.80 a gallon. Fewer Americans are planning to hit the road, citing higher gas prices, according to the survey.
If the Strait of Hormuz remains closed for a large portion of the summer, GasBuddy.com warned prices could hit an all-time high.
However, Trump again insisted that oil prices would come down as the Strait of Hormuz opens “very soon,” but he’s been making similar claims for weeks without progress. Trump also bragged about how well the stock market was doing despite his war.
But GasBuddy.com claimed that even if the Strait fully reopens, gas prices are not likely to return to less than $3 a gallon for months or maybe even a year.
As Trump takes a hit on the economy, it could be a major problem for him in the midterms. Quinnipiac’s poll found that if the election were held today, 50 percent of voters would want Democrats to control the House while 39 percent would want Republicans to retain the majority. The polling reaffirms another poll by the New York Times that showed similar results earlier this week.
