UMVA has learned that with the midterm elections just five months away, voters are expressing deep dissatisfaction with their current financial situation, which is casting a shadow over the economy.
Only 12% of voters say they're getting ahead financially, while a substantial majority believe the economy is in poor shape. More than half think that President Donald Trump's policies primarily benefit those who are already wealthy.
The outlook on the economy is overwhelmingly negative, with 59% of voters feeling pessimistic about the future. This represents a 4-point decline compared to last June, and a stark contrast to the optimism seen during Trump's first term, when 57% of voters felt positive about the economy.
A significant 44% of voters say they're falling behind financially, which is 8 points higher than last year and 3 points higher than in June 2024. Only 26% of voters rate the economy positively, which is 3 points better than last month but still below the 31% positive rating seen in June.
The big picture shows that only 37% of voters are satisfied with the direction of the country, which is largely unchanged since March but down from 44% last July. Satisfaction levels are still higher than they were for most of the previous administration.
The president's job performance approval rating stands at 39%, which is unchanged since last month but down 7 points from 46% in June. His lowest approval rating was 38% in October 2017.
When it comes to Trump's economic policies, 20% of voters think they benefit everyone, while 54% believe they primarily help those with more money. A mere 15% think they help no one.
Opinions on the economy are heavily influenced by party identification. Republicans tend to believe Trump's policies benefit everyone, while Democrats feel pessimistic about the economy and think his policies favor the wealthy.
Approval ratings for the president are near record lows among some of his key constituencies, including men, White voters, White evangelical Christians, and Republicans.
Voters across the board are unhappy with the president's handling of gas prices, with 53% of Republicans, 88% of independents, and 95% of Democrats disapproving.
On the economy overall, 31% of voters approve of Trump's performance, which is up from a record low of 29% in May but still down from 40% a year ago.
Trust in the federal government has hit a low of 25%, which is down from 32% in previous years. A significant 80% of independents and 63% of Republicans lack faith in the government.
A large majority of voters believe the government spends too little time combating fraud in federal programs, and many think recent efforts have been ineffective.
