A new survey shows Americans now trust Democrats more than Republicans to manage the economy, ending nearly a decade of Republican advantage.
Trump’s Approval Ratings Continue to Dip Before Midterms
The Reuters/Ipsos poll revealed that 37% of registered voters believe the Democratic Party has a better strategy for the economy, slightly surpassing the 36% who favored the Republican Party.
The survey, conducted online and nationwide, also indicated that if congressional elections were held today, 42% of registered voters would vote for Democrats, while 37% would vote for Republicans. Independents in the poll favored Democrats over Republicans by 12 percentage points.
Republicans had been consistently perceived as superior economic managers throughout most of President Donald Trump’s first term, during former President Joe Biden’s tenure and into Trump’s second term, Reuters reported.
Moreover, Trump’s approval rating dropped to 35%, down from 37% in a similar poll conducted last month.
The shift in public opinion reflects a broader trend, not a one-off, amid a backdrop of rising energy prices, fueled by the ongoing conflict with Iran.
A July AP-NORC poll recorded 33% approval and 66% disapproval for Trump’s handling of the presidency. Moreover, approval of Trump’s handling of the Iran conflict fell to 28%.
U.S. gasoline prices crossed $4 a gallon in July, with some experts warning prices could stay above $4 per gallon beyond the first week of August.
The Political Fallout
Although dissatisfaction with Trump’s administration is growing, Polygon (CRYPTO: POL)-based Polymarket prices a 56% chance that Republicans will retain their Senate majority after the midterms.
On the other hand, Democrats are the frontrunners to take control of the House, with 86% odds in their favor.
Overall, the balance of power tilted slightly in favor of the Democrats, with a 48% chance that the blue party sweeps both chambers of the House.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Summit Carries Global Stakes
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