President Donald Trump’s stewardship of the U.S. economy is facing its toughest test yet, as a cascade of recent polls reveals a sharp decline in public confidence across nearly every major issue—most notably the economy, long considered the bedrock of Trump’s political brand. According to a new AP-NORC poll conducted December 4-8, 2025, only 31% of U.S. adults now approve of how Trump is handling the economy, down from 40% in March and marking the lowest point for his economic approval in either of his terms. This steep drop comes at a critical moment, with the 2026 midterm elections looming and Americans feeling the pinch of rising costs, stagnant wages, and persistent inflation.
The numbers tell a sobering story for the White House. As reported by The Associated Press, nearly 70% of Americans now disapprove of Trump’s economic management, a record low that reflects growing anxiety about household budgets and the broader financial outlook. The pain is not confined to one party: approval among Republicans for Trump’s economic agenda fell by 9 points since March, now sitting at 69%. Among Democrats, only 7% approve of his economic handling, underscoring the deep partisan divide that continues to shape public opinion.
What’s fueling this discontent? The AP-NORC poll and supporting data from the Bureau of Labor Statistics paint a picture of mounting economic strain. As of September 2025, the overall civilian unemployment rate had crept up to 4.4%, a 0.4-point increase since January. Unemployment among Black Americans reached 7.5%, the highest since October 2021, while Hispanic or Latino unemployment hit 5.5%, the highest since February 2023. Inflation, meanwhile, stood at 3% for the 12 months ending in September—up 0.6 points from the previous year. Food prices rose 3.1% and energy costs 2.8% over the same period, with both categories outpacing wage growth and squeezing family budgets.
These numbers are not just abstractions for American families. According to polling highlighted by the Democratic National Committee, nearly three in ten voters held off on getting medical care over the past year due to cost, almost one in four delayed or skipped prescription drugs, and one in three skipped a meal. Nearly two-thirds reported switching to cheaper or fewer groceries. During what some are calling the most expensive holiday season on record, the average American family has already paid close to $1,200 in tariff-related costs, a direct consequence of Trump’s trade policies.
Despite these headwinds, President Trump has continued to tout his economic record, grading his performance an “A-plus-plus-plus-plus-plus” earlier this week. Yet, the disconnect between the administration’s rhetoric and daily reality for many Americans is increasingly evident. “Donald Trump’s trainwreck of an economy is catching up to him, and it’s no wonder voters are pissed,” said DNC Rapid Response Director Kendall Witmer in a statement. “Trump promised to ‘lower costs on Day One,’ but prices are soaring, and good-paying jobs are out of reach for everyday Americans.”
Republican support, while still robust, has softened. The AP-NORC poll found that 69% of Republicans approve of Trump’s handling of the economy, down from 78% in March. Larry Reynolds, a 74-year-old Republican from Ohio, echoed the frustrations of many in his party: “I believe in Trump’s plan to impose import duties, but rates have spiraled too high, creating a vicious circle now where they aren’t really justifying the tariffs.” Reynolds added that he sees inflation as a lingering problem from the pandemic and doubts the economy will bounce back quickly, regardless of Trump’s actions. “I don’t think it’ll be anything really soon. I think it’s just going to take time,” he said, according to AP.
While the economy remains a sore spot, Trump’s approval on other issues has also slipped. Approval for his handling of crime fell from 53% in March to 43% in December, and approval on immigration dropped from 49% to 38% over the same period. On health care, only about 30% of adults approve of Trump’s performance, a slight decrease from November. The extension of Affordable Care Act subsidies—at the heart of a recent government shutdown—remains uncertain, further fueling public frustration. Notably, approval among Republicans for Trump’s handling of health care fell from 68% in November to 59% in December.
Yet, there is one area where Trump continues to outperform expectations: border security. The AP-NORC poll found that 50% of adults approve of his handling of border security, with support coming not just from Republicans, but also from 19% of Democrats and 36% of independents. This relative strength stands in contrast to his declining numbers on broader immigration policy, where mass deportation efforts and high-profile raids have drawn criticism. Jim Rollins, an independent from Georgia, summed up the ambivalence felt by many: “Taking people out of kindergarten, and people going home for Thanksgiving, taking them off a plane. If they are criminals, sure. But the percentages—based on the government’s own statistics—say that they’re not criminals. They just didn’t register, and maybe they sneaked across the border, and they’ve been here for 15 years.”
Public perception of the economy remains stubbornly negative, with about two-thirds (68% to 70%) describing it as “poor” in December, a figure unchanged from October. This sentiment is especially pronounced among Democrats and independents, with 8 in 10 in each group expressing pessimism, compared to 4 in 10 Republicans.
Federal Reserve Chair Jerome Powell weighed in this week, suggesting that the inflationary impact of Trump’s sweeping tariffs would be a “one-time increase,” provided no further hikes are imposed. The Fed responded to the economic slowdown by cutting interest rates for a third consecutive time, a move aimed at easing financial conditions but one that has yet to reverse the prevailing sense of economic malaise.
Amid these challenges, some Americans are uncertain about where to place blame. Shaniqwa Copeland, a 30-year-old independent in Florida, voiced frustration with the health care system but couldn’t decide whether Trump or his predecessor bore greater responsibility. “A couple years ago, I could find a dentist and it would be easy. Now, I have a different health care provider, and it’s so hard to find a dental plan with them,” she said. “And the people that do take that insurance, they have so many scheduled out far, far appointments because it’s so many people on it.”
The AP-NORC poll, conducted with 1,146 adults and a margin of error of plus or minus four percentage points, underscores the deep divisions and mounting anxieties shaping the American political landscape as 2025 draws to a close. With economic confidence at a low ebb and partisan divides as wide as ever, the months ahead promise to be turbulent for the Trump administration—and for the millions of Americans hoping for relief from economic uncertainty.
