'Trump in danger of getting trapped' in same economic doom loop as his enemy: report

President Donald Trump has been consistently losing support for his handling of the economy, and he's in danger of getting sucked into the same loop that doomed his predecessor.

Americans' negative attitude toward the economy during Joe Biden's presidency often conflicted with good-to-great economic data and ultimately helped drive him out of the 2024 race and cost Democrats a shot at congressional majorities, and Axios reported that Republicans are worried about suffering the same fate.

"Trump is in danger of getting trapped in the same 'vibecession' dynamic that doomed President Biden — only this time, the structural signals are flashing red and Trump's signature legislation is toxic," Axios reported. "Some Republicans already fear inflation could cost them dearly in the 2026 midterms, warning Trump has only a few months to reset his trajectory on voters' most important issue."

"For a president whose credibility on the economy has always been his strongest asset," the report added, "the prospect of the bottom falling out is uniquely dangerous."

The president's approval rating on inflation and cost of living is approaching Biden's lows from the peak of post-Covid inflation, currently sitting at a woeful minus-24, and Trump's favorability on jobs and the economy is wallowing at minus-13, with 52 percent of U.S. adults saying the economy is "getting worse," compared to 24 percent who say it's getting better and 20 percent who say it's about the same.

"Poll after poll shows Trump's Big, Beautiful Bill Act — which extended his 2017 tax cuts while slashing Medicaid and other safety net programs — is the most unpopular major piece of legislation in years," Axios reported. "Trump campaign officials acknowledged the PR crisis in a closed-door briefing on Capitol Hill this week, where they urged Republicans to refer to it as the 'Working Families Tax Cut Bill.'"

Trump officials insist the economy remains fundamentally strong, pointing to consumer spending and a strong stock market, but Democrats point to data from the Congressional Budget Office showing the poorest 25 percent of households will lose money under the GOP law while the richest enjoy the benefits.

"The bleak voter sentiment matches increasingly bleak fundamentals," Axios reported. "Inflation is creeping higher as Trump's trade war continues to reorder the global economy, with some analysts predicting drug shortages and an uncertain holiday season."

That goes along with a shaky housing market beset by relatively high interest rates and a stagnant supply, and unemployed workers exceed job openings for the first time since April 2021, with layoffs rising and the manufacturing sector contracting and shedding jobs.

"Trump may wind up learning Biden's hard lesson: You can't convince voters the economy is strong when their lived experience tells them it's weak," Axios concluded.