Donald Trump’s second administration has seen voter confidence in U.S. economic performance plummet to its lowest point in three years.
The president sailed back into office last year on a pledge to increase affordability and fatten paychecks across the country. A meager 16 percent of voters now say the economy is doing well, with three quarters saying that conditions are only getting worse—the highest share since May 2023—according to the result of a new Gallup poll released Friday.
The survey also shows the highest numbers of Americans assuming a dim view of their future economic prospects than at almost any other point since January 2022, when inflation rocketed to 9 percent in the midst of the COVID-19 pandemic.
The Washington Post, which reported the results of the Gallup poll Friday, added that Trump’s average approval ratings currently stand at just 36 percent, down four points since January and the lowest of either term since the immediate aftermath of the Jan. 6 riots in 2021.
Oil prices continue to dominate voter concerns. Trump’s war with Iran, launched on Feb. 28, and Tehran’s resulting shutdown of the Strait of Hormuz, have sent gas rocketing up above $4.50 per gallon. The national average stood at just $2.90 prior to the conflict.
Experts say Trump’s flagship tariffs policy has only served to worsen the situation. D.C. think tank the Tax Foundation estimates the president’s levies against ally and enemy alike over the past year amount to a $1,500 hit for the average American household this year, up from $1,000 in 2025.
The damage has been increasingly reflected in polling numbers, and not just on voter approval of the president’s performance now more than 15 months into his second term.
Poll-tracking site Silver Bulletin shows Democrats with an almost seven point lead on the generic congressional ballot ahead of November’s midterm elections.
The Daily Beast contacted the White House for comment on this story. “The American economy has been resilient under President Trump because his economic agenda has a proven track record,” spokesperson Kush Desai said. “Americans can rest assured that as this agenda continues taking effect, and as Congress passes more of the President’s healthcare and housing affordability agenda, the best is yet to come in the second Trump term.”
