Trump may become the face of US economic discontent
WASHINGTON
President Donald Trump got a serious warning from voters that he’s out of touch with their fears about a deteriorating U.S. economy.
Democrats cruised in key races across the country on Nov. 2 by harnessing some of the same populist fervor that helped get Trump reelected a year ago — but also by focusing on the kitchen table issues the Republican had vowed to fix.
Now, as the incumbent, fears about the economy have made Trump the face of much of the public’s discontent.
“We learned a lot.” Trump acknowledged on Nov. 5. In a Fox News Channel interview, he said his party wasn't doing enough to spread the word about the country's economic progress.
“Republicans don’t talk about it," he said. "They don’t talk about the word affordability."
Voters in the Virginia and New Jersey governor races, the New York City mayoral contest and the California ballot proposition all citied economic concerns as the top issue. Democrats swept those elections, and it was difficult to point to any major race, anywhere, where Republicans had a key victory.
The reversal of fortune from a year ago was stark.
Back then, voters returned Trump to the White House on the promise that he could quickly bring down inflation, jump-start factory hiring and shower the country in newfound wealth from steep tariffs he imposed on U.S. allies the world over.
Instead, voters now are expressing concerns that high prices for groceries, electricity bills and housing are draining their bank accounts.
Trump has been defiant in insisting that he's strengthened the economy, so — his early reactions aside — it's not clear he'll internalize the need to take on the same inflationary challenges that became a drag for his Democratic predecessor, Joe Biden.
The elections were largely in areas that have recently favored Democrats, so there are limits to interpreting what the results could mean for next year’s broader midterm races. But the size of Democratic margins indicated the degree of frustration with economic conditions under Trump.
There are few signs that the public is putting much confidence in Trump’s claims about an American “golden age,” nor his assertion that inflation has been tamped down into submission. Recently pressed on Americans still worried about high grocery prices, Trump pointed to the stock market.
“Look, 401(k)s. People have 401(k)s,” the president said in an interview with CBS News’ “60 Minutes” that was broadcast on Nov.2 .
Trump said grocery prices are falling, but the most recent inflation report shows they’re up 2.7 percent from a year ago.
Overall consumer prices have risen 3 percent over the past 12 months, which is higher than the rate going into Trump’s 2024 election win.
A top Trump political aide told Politico on Nov. 5 that the election showed the importance of focusing on the cost of living.
“Why does Zohran Mamdani do so well last night? He relentlessly focused on affordability,” James Blair said in the interview.