In order to win reelection in 2020, a big part of President Donald Trump’s strategy is to repeatedly talk about how great the American economy is doing. But a new poll suggests that the majority of voters don’t exactly share the president’s enthusiasm for his economic policies.
A just-released AP/ORC poll shows that Trump is now underwater in his approval rating on how he’s handling the economy, with 51 percent of those surveyed saying they disapprove of how he’s handling the U.S. economy. 47 percent said they approve of the job the president is doing as it relates to economic matters.
And Trump’s overall job approval rating is nothing short of abysmal, with 38 percent saying they approve and 60 percent expressing disapproval of the job he’s doing as president.
According to the poll:
Nearly two-thirds describe as “good” an economy that appears to have set a record for the longest expansion in U.S. history, with decade-long growth that began under Barack Obama. More people consider the economy to be good today than did at the start of the year.
But significantly fewer approve of Trump’s handling of the economy, even as it remains a relative strength compared with other issues. The survey indicates that most Americans do not believe they’re personally benefiting from his trade policies. And only 17% said they received a tax cut, despite government and private sector figures showing that a clear majority of taxpayers owed less after the president’s tax overhaul passed in 2017.
Clearly, when it comes to trade and tax policy, Americans are not exactly turning cartwheels, even though Trump repeatedly brings up the 2017 tax cut and his ongoing trade war with China which is devastating large sectors of the U.S. economy, including agriculture and manufacturing.
Trump’s economic policies have benefited some: The rich, corporations, and the stock market. But most Americans aren’t wealthy, and don’t get share in the windfall being seen by large businesses. As for the stock market, while many do have part of their retirement savings invested via 401k plans, many economists have warned the market is grossly overvalued at the moment and due for a correction. That could wipe out trillions of dollars overnight and send the world economy into a recession.
These latest poll numbers also suggest that Trump will soon be turning to a campaign focused on hatred, fear, and negativity. Will voters reject such a strategy? That remains to be seen.
Featured Image Via CBS News