Even more Republicans now think the economy is headed in the wrong direction.
An affordability crisis is now in effect, according to 95 percent of Americans, as high gas and grocery prices hammer people’s wallets.
The new Harris Poll revealed that just 27 percent of Republicans think the economy is traveling in a positive direction, down from 49 percent in February.
In February, just 22 percent of Republicans thought the economy was getting worse, but that number has now shot up 16 points to 38 percent in the latest poll, conducted for The Guardian.
Democrats have become further entrenched in their belief that the economy is not moving in the right direction, up to 71 percent from 62 percent in February.
Independents, meanwhile, aligned far more closely with Democrats than Republicans, swinging 10 points since February up to 63 percent.
The drop in confidence comes after President Donald Trump’s war with Iran, which had massive knock-on effects for the global economy.
At the center of the catastrophe is the Strait of Hormuz, which Iran successfully closed.
It tied up about one-fifth of the world’s oil supply, driving gas prices up toward $5 a gallon at the pump nationwide.
It also led to fertilizer shortages, which have and are expected to continue to have knock-on effects for the cost of farming, and ultimately groceries.
Meanwhile, 49 percent of Republicans said that the cost-of-living crisis will not be solved by the federal government.
Overall, two-thirds of Americans felt the same way.
Despite some positive economic signs, such as a strong stock market and a stable labor market, Americans in rural areas said it had become increasingly difficult to find work, the new study found.
Some 41 percent of people in rural areas thought job opportunities were disappearing, compared with just 28 percent in urban areas.
Meanwhile, the U.S. only added 57,000 jobs in June, half of the 115,000 forecast, according to the latest jobs report.
The drop in confidence in the economy—often cited as the single most important factor in deciding elections—comes just months before the midterms.
The GOP is clinging to narrow margins in both the House and the Senate, and most predictions suggest that the Democrats are likely to make gains.
Republicans are beleaguered, too, by a historically unpopular president in Trump.
The 80-year-old has sunk to astonishing lows in his approval ratings. CNN’s poll of polls pitched his mid-June approval at just 37 percent.
The Daily Beast has contacted the White House for comment.
