①A Harris Company poll shows that 45% of Americans believe their financial security has deteriorated, with only 20% seeing improvement, and 57% believing the U.S. economy is in recession; ②Trump has not successfully gained the trust of independent voters. 54% of independent voters say their financial situation is worsening, up 9 percentage points from a February survey.
A recent poll shows that the number of Americans who believe their financial security is deteriorating is more than twice as many as those who think it is improving, with growing public blame directed at the White House.
The results of this survey conducted by the Harris Company will undoubtedly further undermine Trump's efforts to defend his economic governance performance, with several findings serving as warning signs for the U.S. President.
Specifically, 45% of Americans said their financial security was deteriorating, while only 20% believed the situation was improving. Additionally, 57% of respondents believed the U.S. economy was in recession, up 11 percentage points from a similar survey conducted in February.
However, from a strict economic definition, the U.S. is not currently in a recession — typically “economic recession” refers to two consecutive quarters of negative economic growth. Just last week, data released by the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce showed that, driven by consumer spending, exports, and government expenditures, the U.S. economy expanded at its fastest pace in two years during the third quarter, far exceeding market expectations.
Nevertheless, this widespread pessimism highlights the economic turbulence experienced in the U.S. this year. A series of events, including tariff policies implemented by the Trump administration, large-scale government layoffs, and tightened immigration policies, have left American citizens uneasy. Meanwhile, the Conference Board’s Consumer Confidence Index has declined for five consecutive months.
The White House, on the other hand, insists that the administration is “bringing the economy back on track from the brink of collapse.” In a speech mid-December, Trump stated: “Under our leadership, prices are falling across the board, and very rapidly.”
Moreover, this latest poll highlights significant differences in perceptions of the current economic situation among individuals with different political stances, genders, ethnicities, and income groups. During Biden’s administration, Republicans were notably harsher in evaluating his economic performance compared to Democrats.
This strong divide between the Democratic and Republican parties continues to this day. Among Democrats, the proportion who believe their financial security is deteriorating is almost twice that of Republicans — 52% versus 27%, respectively.
But what is more concerning for Republicans is that Trump has not successfully won the trust of independent voters. 54% of independent voters say their financial situation is worsening, up 9 percentage points from a February survey; meanwhile, 58% of independent voters believe the U.S. is in an economic recession.
At the same time, the number of people attributing responsibility to the White House continues to rise. In response to the question of 'Who is primarily responsible for rising prices,' respondents were asked to choose between 'the government' and 'businesses.'
Seventy-six percent of Democrats believe that the responsibility lies with the government's management of the economy, an increase of 17 percentage points from February; 72% of independent voters also attribute responsibility to the government, up by 14 percentage points. Republicans, however, are more divided: 55% hold the government responsible (a decrease of 6 percentage points from February), while 45% attribute it to corporate behavior.
Overall, although Americans have generally become more pessimistic, women’s confidence in the economy is significantly lower than that of men. Sixty-two percent of women believe that the U.S. is in an economic recession, an increase of 12 percentage points from February, compared to 52% of men holding the same view. Meanwhile, 50% of women believe their financial security is deteriorating, compared to 39% of men.
The survey also highlighted what some economists refer to as the 'K-shaped economy' phenomenon – a clear divergence in economic sentiment between affluent groups and others amid a booming stock market. Among respondents earning less than $50,000 annually, 59% reported that their financial security is worsening, an increase of 13 percentage points from February. In contrast, among those earning over $100,000 annually, only 37% share the same sentiment.
Editor/Doris