President Donald Trump is facing a dramatic reversal on the issue that helped secure his 2024 win, according to CNN chief data analyst Harry Enten.
In October 2024, a plurality of voters, 44 percent, believed Trump would improve their financial situation, compared with 38 percent who expected to be worse off, but that dynamic has flipped sharply. Current polling shows 58 percent of voters, nearly three in five, now say Trump is making them financially worse off, while the share saying he's made them better off has collapsed from 44 percent down to just 13 percent.
"These are absolutely devastating numbers," Enten said. "The issue that got Trump re-elected, now the voters absolutely turn against him."
The shift extends to broader perceptions of the economy.
In November 2024, just 42 percent of Americans, well under half, said the economy was getting worse. That figure has since jumped to 59 percent, while only about one in five now say conditions are improving. With inflation and the economy widely expected to be the top issue in the midterms, Enten said, those numbers present a serious problem for Republicans heading into the fall.
"That's an equation that does not work out to success," he said.
Historically, Trump's standing looks especially weak. According to a CBS poll, his net economic approval rating is 30 points underwater at this point in his second term — worse than George W. Bush's numbers heading into the 2006 midterms, a comparison Enten noted has not historically boded well for the president's party.
The economic anxiety comes as Trump pushes for interest rate cuts and has installed a new Federal Reserve chair. But prediction markets aren't betting on it happening soon. According to Kalshi, there's less than a 1 percent chance the Fed cuts rates at its meeting this week, and only about a 19 percent chance of a cut at all this year.
The bottom line, Enten said, is that the public and financial markets alike currently see little reason to expect the economic relief Trump has promised.
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