Commentary by Ken Zino
Sessions of our Congress -- both the House and Senate -- open with the pledge of allegiance to the Republic. This means people acting as voters hold the power to choose the elective representatives who will govern them, not kings with divine rights and royal whims. This year voters -- we the people -- are troubled and alarmed about the economy. The primary results that rejected Republicans [Republi-cons?] has the Trump MAGA gang doing more than pearl clutching in metaphorical fear the pearls are about to be transformed into rhinestones. Much fretting here over what to do about the majority of Americans who now tell pollsters that Trump economic polices – comingled with foreign policy and shootings war, food and gas prices, rising interest rates – have them thinking the economy is bad?
The latest Pew Research Report on voters published 23 July indicates six in 10 now say Trump’s economic policies have made the economy worse.
Authors Andrew Daniller, Andy Cerda, Hannah Hartig and J. Baxter Oliphant - of what I describe as a MAGA rejection -- note that “Americans remain in a sour mood about the economy – roughly a quarter (24%) rate economic conditions in the country today as excellent or good, while 41% say they are “only fair” and 35% describe them as poor. Positive ratings are slightly lower than in January, when 28% rated the economy as excellent or good. Still, Americans’ economic ratings have hovered around this level for the last few years. The recent drop is primarily driven by a shift among Republicans and Republican-leaning independents: 41% now rate the economy as excellent or good, down from 49% in January. Just 10% of Democrats and Democratic leaners rate the economy positively, essentially unchanged since early in President Donald Trump’s term.”
What’s that shift driven by again? “The recent drop is primarily driven by a shift among Republicans and Republican-leaning independents: 41% now rate the economy as excellent or good, down from 49% in January. Just 10% of Democrats and Democratic leaners rate the economy positively, essentially unchanged since early in President Donald Trump’s term.”
The new Pew Research Center survey, conducted July 6-12 among 3,554 U.S. adults, also finds that Americans are less likely than they were in January to expect the economy to improve over the course of the next year.
- 23% now say they expect economic conditions to be better a year from now, down from 31% in January.
- 36% say they expect conditions to be worse a year from now; little changed from January (38%).
“These views come as Americans remain concerned about the costs of healthcare, housing, food and energy. Concerns about gas prices, in particular, have risen sharply since January (before the US military action against Iran). Note: US gas prices had declined somewhat prior to the survey’s field period, but have risen steadily in recent weeks as military actions have escalated in the region and the price of crude oil has risen,” Pew said.
“Most Republicans continue to say Trump’s policies have either improved economic conditions (42%) or not had much of an effect (29%).
But GOP views have become less positive since January. The share of Republicans who say Trump’s policies have worsened conditions has risen from 18% to 28%, while the share saying they have improved conditions has fallen from 57% to 42%. (Do I hear the sound of pearl clutching/)
“The vast majority of Democrats continue to say Trump’s economic policies have made the economy worse (89% say this today).
Americans’ Economic Concerns (Pew)
- Large majorities of Americans remain very concerned about the cost of healthcare, food and consumer goods, and housing. And concern about gas prices has risen sharply: 56% now say they are very concerned about this, up from 34% in January.
- A narrower majority (54%) of adults say they are very concerned about the price of electricity, while 49% say they are very concerned about the role of artificial intelligence (AI) in the economy.
- More than four-in-ten (44%) express a high level of concern about people who want to work not being able to find employment.
- In contrast, relatively few Americans (18%) say they are very concerned about how the stock market is doing.”
In my personal view I have watched my weekly spend for food grow from $22-$28 under the Biden Administration to $55 –$70 under King Trump. My healthcare insurance costs and prescription prices have increased every year under Trump. My daughter, nieces and nephew are trying to deal with constantly rising interest rates (currently at a three year high and likely to keep rising) while they are looking to buy a house or condo. I dread the coming effects of financing record and growing US National Debt on interest rates.
In my humble Pledge of Allegiance to the Republic, it’s time to short President Trump’s preferred stock, along with MAGA’s. It looks like they are going to be converted to fewer shares of lower value common (paste not pearls) come November. The voters will decide who will represent them after the Pledge of Allegiance start the 120th Congressional sessions.
Zino is a contributing pundit for The Hustings and writer/editor/publisher of AutoInformed.
-30-