At the close of the first quarter, Americans are increasingly anxious about their economic future as Washington deliberates on significant actions, including tariffs and budget cuts. The Conference Board recently revealed a drastic 7.2-point fall in the Consumer Confidence Index, landing at 92.9, while the Expectations Index plummeted to its lowest in 12 years at 65.2, hinting at potential recession.
Simultaneously, various surveys such as those from Harvard-Harris and The Economist/YouGov present a concerning outlook of the nation’s trajectory. The predominant concerns from respondents highlight inflation (26%), jobs and the economy (13%), and healthcare (10%), overshadowing other issues like immigration and taxation that garnered scant attention.
In a climate of economic trepidation, President Trump’s imposition of tariffs on imports raises alarm, likely pushing prices and inflation higher. The Senate is poised to consider terminating the emergency declaration enabling these tariffs while also discussing a budget resolution that may curtail taxes and government services.
Public sentiment towards Congress remains sour, with recent polling revealing a mere 24% approval rating via Economist/YouGov, while a Harvard-Harris survey offers a slightly optimistic 36%. Trump’s approval ratings tell a similar story, fluctuating between 43% disapproval to an even split in some polls, yet reflecting growing public concern overall.
Amidst the barrage of negative indicators, it’s evident that the public harbours significant dread about economic prospects, coinciding with governmental decisions that could exacerbate job losses and affect essential services, especially Medicaid. As Washington’s actions unfold, citizens’ worries about tomorrow intensify.
Jason Dick serves as the editor-in-chief of CQ Roll Call.
As Washington contemplates tariffs and budget measures, public concern about the economy grows. The Consumer Confidence Index and Expectations Index have seen alarming declines, reflecting fears of recession. Surveys indicate that issues like inflation dominate public concern. While Trump faces fluctuating approval ratings, the overall sentiment is marked by anxiety about job losses and the economic direction. As decisions are made, the anxiety surrounding economic prospects intensifies.
In summary, the end of the first quarter reveals a populace fraught with economic unease amidst legislative deliberations on tariffs and budget cuts. Consumer confidence is waning, public sentiment toward Congress is largely negative, and President Trump’s approval ratings reflect a divided nation. As decisions are made that may impact jobs and essential services, the public’s apprehensions about the economy are palpable, setting a tense tone for the future.
Original Source: rollcall.com
