Growing numbers of Americans blame Trump for their financial difficulties.
A poll conducted for Britain’s Guardian newspaper shows that nearly half of Americans believe their financial security is getting worse, while a majority say the United States is experiencing an economic recession.
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The survey, carried out by the Harris Poll between Dec. 11 and 13 among 2,180 nationally representative U.S. adults, found that economic pessimism has deepened over the past year, with growing numbers of Americans blaming the White House for their financial difficulties.
According to the poll, 45 percent of respondents said their financial security is deteriorating, compared with just 20 percent who said it is improving. Meanwhile, 57 percent said the U.S. economy is undergoing a recession, up 11 percentage points from a similar poll conducted in February.
The results underscore an “economically tumultuous year.” Many Americans reported feeling “shaken” by U.S. President Donald Trump’s tariffs, mass government layoffs and a crackdown on immigration, even as official data recently showed stronger-than-expected economic growth. Consumer confidence, as measured by the Conference Board, has declined for five consecutive months.
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The poll highlighted sharp political divisions in perceptions of economic conditions. Democrats were almost twice as likely as Republicans to say their financial security is getting worse, at 52 percent versus 27 percent.
Concerns were also pronounced among independent voters, with 54 percent saying their finances are deteriorating, up nine percentage points from February. A majority of independents, 58 percent, also believe the country is in recession.
At the same time, more of the blame is being placed on the White House than ever before. When asked who is most responsible for increasing prices, 76 percent of Democrats and 72 percent of independents pointed to government management of the economy. Republicans were more divided, though a majority of 55 percent also blamed the government rather than corporate practices.
Differences in economic sentiment were also evident across gender, race and income groups. Women expressed significantly greater pessimism than men, with half saying their financial security is worsening, compared with 39 percent of men.
About two-thirds of Black and Hispanic respondents said the U.S. economy is in recession, compared with just over half of white respondents.
Income disparities further reflected what some economists describe as a “K-shaped” economy. Among respondents earning less than US$50,000 a year, 59 percent said their financial security is getting worse, up 13 percentage points from February. By contrast, 37 percent of those earning more than 100,000 dollars said things are getting worse.
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Source: Xinhua
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