Donald Trump was elected in 2016 while using the popular vote and spent the majority of his first term with a negative approval rating. But in 2024, Trump won the popular vote and came back into office more popular than he ever had been at any previous time in his political career. And Trump came back into power, in part, due to widespread dissatisfaction with the Biden-era economy.
However, as he approaches two months back in office, bad economic news is starting to affect Trump’s popularity.
A Bad CNN Poll on Donald Trump
Last week, a CNN/SSRS poll found that a big majority, 56 percent, of Americans now disapprove of Trump’s handling of the economy. Overall, the poll found that 45 percent of Americans approve of Trump’s overall performance, with 54 percent disapproving.
And the economy remains an issue of major concern. CNN and SSRS also asked respondents what the most important issue was to them, from a list of seven, and the economy was named the most important by 42 percent, doubling the answers of any other issue.
In more bad economic news for the approach of the Trump Administration to the economy: Just 35 percent of Americans say they express a positive view of Elon Musk, compared to 53 percent expressing a negative view of the DOGE head.
Plus, nearly six in ten of the poll respondents agreed that Musk has “neither the right experience nor the right judgment to make changes to the way the government works.”
In addition, 35 percent of Americans said things in the country were going well, compared to just 29 percent in January.
Another Poll Agrees
Another poll, released Monday, found equally not-great news for Americans’ views of Trump’s economic performance so far.
While the new NBC News poll listed the best right track/wrong track number found since 2004, and Trump’s approval rating has reached a new personal high for him of 47 percent, both of those numbers remain below 50 percent.
And while Trump, per the NBC poll, maintains nearly “lockstep” support among Republicans, views of his performance continue to lag when it comes to the economy.
Only 18 percent of voters rate the economy as “excellent” or “good,” while when asked what they think of Trump’s performance on the issue of the economy, 54 percent disapprove while just 44 percent approve. Per NBC, Trump had “never previously had a majority against his handling of the economy in a national NBC News poll.”
Reasons For the Bad News
It’s not just that Trump promised to solve the problem of inflation that was a hallmark of the Biden era, but most of the inflation reports so far have been similar to the last couple of years of the Biden presidency- lower, but still a bit too high.
But that’s been far from the only bad economic news since Trump returned to office, including widespread fears of a recession by the end of the year that have led to massive stock market volatility. And while presidents often blame recessions on their predecessor’s administration, the bad headwinds so far this year have been sudden, and largely attributable to Trump’s tariff threats.
According to a University of Michigan economic survey released on Friday, consumer attitudes have “soured,” “alongside slumping markets and growing concern about a possible recession.”
Can Donald Trump Recover?
Of course, it’s far from a sure thing that there actually will be a recession. And even if there is one, Trump is at the comparative dawn of his second term and still has a great deal of time in office to reap the rewards of a recovery, once one arrives.
Donald Trump speaking with supporters at a campaign rally at the Phoenix Convention Center in Phoenix, Arizona.
Trump also has the advantage of not having to run for re-election again, so he’ll have fewer political consequences for a bad economy- aside from the threat of a midterm election bloodbath in 2026.
About the Author: Stephen Silver
Stephen Silver is an award-winning journalist, essayist and film critic, and contributor to the Philadelphia Inquirer, the Jewish Telegraphic Agency, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. For over a decade, Stephen has authored thousands of articles that focus on politics, technology, and the economy. Follow him on X (formerly Twitter) at @StephenSilver, and subscribe to his Substack newsletter
