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By Sam Stevenson
Associate News Editor
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President Donald Trump’s economic approval rating is at its lowest point during his first and second terms in office, according to a new poll.
The White House maintains that Trump “inherited the worst inflation crisis in a generation from Joe Biden’s incompetence” and points to how the administration “rapidly cooled inflation to a 2.5 percent annualized rate.”
White House spokesperson Kush Desai told Newsweek: “Over the past year, the Trump administration has delivered critical progress to turn the page on Joe Biden’s economic disaster: cooling inflation, rising real wages, private-sector job growth, and trillions in investments to make and hire in America. The Trump administration will continue to build on this progress in the new year to continue delivering economic relief for the American people.”
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Why It Matters
Americans' perception of the economy is a pivotal issue affecting public confidence, political dynamics, and the upcoming midterm elections.
The latest NPR/PBS News/Marist Poll finds widespread dissatisfaction with personal finances, soaring concerns over the cost of living, and declining job approval for Trump, who previously cited the economy as a central achievement of his administration.
What To Know
A recent survey indicates a striking decline in Trump’s economic approval ratings.
The NPR/PBS NewsHour/Marist Poll, conducted December 8-11, 2025, found just 36 percent of Americans approve of Trump’s handling of the economy—a new low for either of his presidential terms.
Disapproval stands at 57 percent, with 8 percent unsure. His overall job approval rating is 38 percent.
The NPR/PBS News/Marist Poll, conducted among 1,440 U.S. adults, also found:
- The cost of living is "not very affordable" or "not affordable at all," according to 70 percent of Americans, the highest level since Marist began surveying this question in 2011. In June 2025, only 45 percent said the same. Now, only 30 percent see their area's cost of living as affordable or very affordable, a sharp drop from 55 percent previously.
- Some 57 percent of Americans describe themselves as pessimistic about what’s ahead in 2026, marking a reversal from last year when 56 percent said they were optimistic for the coming year.
- A total of 61 percent of Americans feel the economy is not working well for them personally, up from 57 percent in May. Conversely, the proportion who say the economy is working for them has dropped from 42 percent to 39 percent.
- Some 35 percent say their personal finances have deteriorated in the past year, compared to 21 percent who report improvement and 44 percent who say their situation is unchanged.
- Regarding the coming year, only 33 percent expect their finances to improve in 2026, down from 48 percent in June and 29 percent expect their finances will worsen, up from 20 percent.
- Monthly expenses exceed income for 24 percent of Americans, with 47 percent reporting their income roughly matches expenses, and only 29 percent stating income surpasses expenses.
- Majority concerns extend to health care, with 54 percent worried their household may not be able to pay for health care services next year.
- Some 52 percent believe the United States is already in a recession, down from 62 percent in September 2022.
On economic policy stewardship, Americans appear to be shifting trust.
Historically, Republicans held an advantage on the economy, but the new poll shows 37 percent now believe Democrats are better able to handle economic challenges, versus 33 percent for Republicans.
In 2022, Republicans led by 13 points on this measure.
Shifts in party trust on economic stewardship further underscore changes in the political landscape as the nation approaches 2026.
Corroborating the downturn, an AP-NORC poll fielded December 4-8, 2025, reported just 31 percent approval for Trump’s economic performance—a two-point monthly decline and a nine-point drop since March.
This figure marks the lowest level recorded during either of his presidencies.
What People Are Saying
Lee Miringoff, director of the Marist Institute for Public Opinion, said: "This is a major problem for [Trump]. When affordability is so front and center in people’s minds, that’s going to be laid at the doorstep of a chief executive."
Amy Walter, editor of The Cook Political Report, said: "The longer this goes on, the harder it is to get those numbers back. People don’t feel confident in you, and they think prices just continue to go up."
Poll respondent Sherry Kamphaus, 61, a former Trump voter from Illinois, said: "He was supposed to help with food prices. That was the main reason that I voted for him. Food prices just keep going up. [Republicans] promised they’d do better, but they didn’t follow through. They’re not doing what they promised to do, especially with the economy and inflation."
Justine Hawkins, a healthcare worker in North Carolina, said: "If you walk into any grocery store, you know everything costs more money."
White House spokesman Kush Desai told Newsweek last week: "President Trump and every member of his Administration are clear-eyed about the fact that Americans continue to reel from the lingering effects of Joe Biden’s generational economic crisis.
"Turning the Biden economic disaster around has informed nearly every action the Trump administration has taken since Day One, from unleashing American energy to cut gas prices to signing historic drug pricing deals to cut costs for American patients.
"Much work remains, and every member of the Trump administration continues to focus on recreating the historic job, wage, and economic growth that Americans enjoyed during President Trump’s first term.”
Desai also previously told Newsweek: "President Trump inherited the worst inflation crisis in a generation from Joe Biden’s incompetence, and his Administration has rapidly cooled inflation to a 2.5 percent annualized rate. Americans can count on inflation continuing to fall and real wages continuing to rise."
Trump said in a Truth Social post: "When will I get credit for having created, with No Inflation, perhaps the Greatest Economy in the History of our Country?…When will Polls reflect the Greatness of America at this point in time, and how bad it was just one year ago?"
What Happens Next
Affordability, health care, and wages are likely to remain major issues as both parties propose remedies. Historically, economic dissatisfaction has contributed to electoral setbacks for the incumbent party.
As Miringoff noted, support for both major parties "has not fully hardened" suggesting further volatility in public opinion ahead of November 2026. Both parties are expected to focus on inflation and affordability, as voters report "prices" as their top economic worry by a wide margin.
Update 12/18/25, 2:30 a.m. E.T. This article was updated with a White House statement.
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