Key Takeaways:
- President Donald Trump faces growing disapproval over his handling of the economy.
- The S&P 500 stock market index has dropped 15% since Trump took office.
- This drop is the worst for any president inheriting a strong economy since 1957.
- Trump’s approval rating has turned sharply negative, faster than any president in history.
The American economy, once a cornerstone of President Donald Trump’s campaign promises, is now causing him big trouble. According to CNN’s Harry Enten, a data analyst, Trump’s handling of the economy has led to a rapid decline in public support. The numbers are shocking, and they suggest voters are losing faith in Trump’s leadership faster than ever before.
Stock Market Struggles Raise Red Flags
One of the clearest signs of trouble is the stock market. The S&P 500, a key measure of stock market health, has dropped 15% since Trump became president. This decline is unusual because Trump inherited a strong economy—unlike many previous presidents who took office during recessions.
Enten compared Trump’s record to past presidents and found some striking differences. For example, George W. Bush saw a similar drop in the S&P 500 during his first term, but Bush took office just after the dot-com bubble burst, a period of economic instability. Trump, on the other hand, inherited a booming economy but still managed to oversee a significant decline.
Fears of a Recession Grow
The recent stock market sell-off follows Trump’s announcement of new tariffs, which have spooked investors. Wall Street analysts are now warning of a potential recession on the horizon. A recession would be bad news for Trump, as economic uncertainty often leads to political backlash.
Voters are already noticing the economic concerns, and their approval of Trump’s leadership is plummeting. At this point in his first term, Trump had a positive approval rating, with a +5 point margin. Now, just two months into his second term, his approval rating is underwater by -12 points. This is the worst performance for any president at this stage in their term.
A Quick Fall from Grace
Trump’s economic struggles have led to a historic drop in public support. According to Enten, no president in recorded history has seen their approval rating turn negative this quickly. For example, President Jimmy Carter, who faced a severe recession during his term, didn’t see his approval rating drop until 11 months into his presidency. Trump, on the other hand, hit negative territory in just two months.
The speed of this decline is stunning. Trump campaigned on a promise of economic prosperity, and voters initially believed in his vision. However, the reality of the situation has been far from the “boom” Trump promised. Instead, many Americans are now worried about their financial futures.
What’s Next for Trump?
The economy is a critical issue for any president, and Trump’s struggles in this area could have serious consequences. If the stock market continues to fall and a recession materializes, Trump’s already shaky approval ratings could drop even further.
Historically, presidents who fail to deliver on economic promises often face significant challenges in winning reelection. For Trump, the clock is ticking. He needs to turn things around quickly if he hopes to regain the trust of voters. For now, though, the numbers paint a grim picture.
The situation is dire, and Trump’s ability to recover will depend on his handling of the economy in the coming months. One thing is certain: Americans are watching closely, and they expect results.