Fuel prices are displayed on a sign as customers fill their vehicles at a gas station on April 13, 2026 in Miami, Florida.
Under Trump, Record Number of Americans Say Personal Finances Getting Worse
Americans' pessimistic economic outlook comes at a time when Republicans are pushing for US taxpayers to fund President Donald Trump's proposed $400 million luxury ballroom.
Just over a year after President Donald Trump promised the US was entering a "golden age," Americans are expressing unprecedented pessimism about the state of the economy.
Gallup on Tuesday released a poll showing that 55% of Americans say their personal finances are getting worse, which is a record high over the last 25 years of data.
For comparison, 49% of Americans said their finances were getting worse at the outset of the Great Recession in 2008, while 50% reported their finances were getting worse at both the start of the Covid-19 pandemic in 2020 and at the height of the post-pandemic inflation crisis in 2023.
"Affordability continues to be the main financial challenge for US households, with concerns about various costs far outpacing all other financial worries," Gallup wrote. "Combined with the lingering effects of sustained inflation during and after the pandemic, Americans' financial perceptions and outlook remain cautious."
The poll was conducted between April 1 and April 15, and the financial pressures facing Americans have only grown in the two weeks since.
The price of Brent crude oil futures, which stood at $95 per barrel on April 15, has since spiked upward to more than $111 per barrel. Likewise, the average price of gas in the last week has grown from $4.02 per gallon to $4.17 per gallon, according to data collected by AAA.
The cost of oil surged starting in March after President Donald Trump launched an illegal war of choice with Iran, which responded by shutting down the Strait of Hormuz to most commercial shipping.
The war has also led to shortages of fertilizer during planting season, which has led some experts to warn of a global food crisis unless the strait opens in the very near future. The prospective food crisis could be further exacerbated by what scientists are projecting will be a “super El Niño,” a global climate phenomenon that would result in lower than average rainfall.
At the same time, a group of Republican lawmakers, led by Sen. Lindsey Graham (R-SC), on Tuesday pushed for US taxpayers to foot the bill for Trump's planned $400 million luxury ballroom.
Hours after Graham unveiled his plan to fund the ballroom with taxpayer money, Rep. Riley Moore (R-W.Va.) appeared on Fox Business to bang the drum on building the ballroom.
"You would think this town would be tired of Donald Trump being right all the time," Moore said in response to critics of the project. "This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless the president for doing it."
Rep. Riley Moore: "You would think this town would be tired of Donald Trump being right all the time. This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless… pic.twitter.com/nosaVo0qJu
— Aaron Rupar (@atrupar) April 28, 2026
Sarah Longwell, a former Republican pollster who left the party over her disgust with Trump, pointed to polling averages aggregated by data analyst Nate Silver showing that nearly 69% of Americans disapprove of the president's handling of the cost of living, and suggested the push for the ballroom was wildly out of touch with Americans' concerns.
"You know what’ll turn these numbers around? A taxpayer-funded ballroom," she wrote sarcastically.
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Just over a year after President Donald Trump promised the US was entering a "golden age," Americans are expressing unprecedented pessimism about the state of the economy.
Gallup on Tuesday released a poll showing that 55% of Americans say their personal finances are getting worse, which is a record high over the last 25 years of data.
For comparison, 49% of Americans said their finances were getting worse at the outset of the Great Recession in 2008, while 50% reported their finances were getting worse at both the start of the Covid-19 pandemic in 2020 and at the height of the post-pandemic inflation crisis in 2023.
"Affordability continues to be the main financial challenge for US households, with concerns about various costs far outpacing all other financial worries," Gallup wrote. "Combined with the lingering effects of sustained inflation during and after the pandemic, Americans' financial perceptions and outlook remain cautious."
The poll was conducted between April 1 and April 15, and the financial pressures facing Americans have only grown in the two weeks since.
The price of Brent crude oil futures, which stood at $95 per barrel on April 15, has since spiked upward to more than $111 per barrel. Likewise, the average price of gas in the last week has grown from $4.02 per gallon to $4.17 per gallon, according to data collected by AAA.
The cost of oil surged starting in March after President Donald Trump launched an illegal war of choice with Iran, which responded by shutting down the Strait of Hormuz to most commercial shipping.
The war has also led to shortages of fertilizer during planting season, which has led some experts to warn of a global food crisis unless the strait opens in the very near future. The prospective food crisis could be further exacerbated by what scientists are projecting will be a “super El Niño,” a global climate phenomenon that would result in lower than average rainfall.
At the same time, a group of Republican lawmakers, led by Sen. Lindsey Graham (R-SC), on Tuesday pushed for US taxpayers to foot the bill for Trump's planned $400 million luxury ballroom.
Hours after Graham unveiled his plan to fund the ballroom with taxpayer money, Rep. Riley Moore (R-W.Va.) appeared on Fox Business to bang the drum on building the ballroom.
"You would think this town would be tired of Donald Trump being right all the time," Moore said in response to critics of the project. "This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless the president for doing it."
Rep. Riley Moore: "You would think this town would be tired of Donald Trump being right all the time. This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless… pic.twitter.com/nosaVo0qJu
— Aaron Rupar (@atrupar) April 28, 2026
Sarah Longwell, a former Republican pollster who left the party over her disgust with Trump, pointed to polling averages aggregated by data analyst Nate Silver showing that nearly 69% of Americans disapprove of the president's handling of the cost of living, and suggested the push for the ballroom was wildly out of touch with Americans' concerns.
"You know what’ll turn these numbers around? A taxpayer-funded ballroom," she wrote sarcastically.
- Despite Trump's Boasting of Strong Economy, 62% of Americans Report No Financial Improvement Since 2016 ›
- Nearly Half of Americans Say Their Financial Security Is Getting Worse Under Trump ›
- Report Shows 'Financial Insecurity Is Widespread and Runs Deep' in Trump Economy ›
- 'We Can Tell': Trump Confesses He Doesn't 'Think About Americans' Financial Situation' When It Comes to Iran War | Common Dreams ›
Just over a year after President Donald Trump promised the US was entering a "golden age," Americans are expressing unprecedented pessimism about the state of the economy.
Gallup on Tuesday released a poll showing that 55% of Americans say their personal finances are getting worse, which is a record high over the last 25 years of data.
For comparison, 49% of Americans said their finances were getting worse at the outset of the Great Recession in 2008, while 50% reported their finances were getting worse at both the start of the Covid-19 pandemic in 2020 and at the height of the post-pandemic inflation crisis in 2023.
"Affordability continues to be the main financial challenge for US households, with concerns about various costs far outpacing all other financial worries," Gallup wrote. "Combined with the lingering effects of sustained inflation during and after the pandemic, Americans' financial perceptions and outlook remain cautious."
The poll was conducted between April 1 and April 15, and the financial pressures facing Americans have only grown in the two weeks since.
The price of Brent crude oil futures, which stood at $95 per barrel on April 15, has since spiked upward to more than $111 per barrel. Likewise, the average price of gas in the last week has grown from $4.02 per gallon to $4.17 per gallon, according to data collected by AAA.
The cost of oil surged starting in March after President Donald Trump launched an illegal war of choice with Iran, which responded by shutting down the Strait of Hormuz to most commercial shipping.
The war has also led to shortages of fertilizer during planting season, which has led some experts to warn of a global food crisis unless the strait opens in the very near future. The prospective food crisis could be further exacerbated by what scientists are projecting will be a “super El Niño,” a global climate phenomenon that would result in lower than average rainfall.
At the same time, a group of Republican lawmakers, led by Sen. Lindsey Graham (R-SC), on Tuesday pushed for US taxpayers to foot the bill for Trump's planned $400 million luxury ballroom.
Hours after Graham unveiled his plan to fund the ballroom with taxpayer money, Rep. Riley Moore (R-W.Va.) appeared on Fox Business to bang the drum on building the ballroom.
"You would think this town would be tired of Donald Trump being right all the time," Moore said in response to critics of the project. "This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless the president for doing it."
Rep. Riley Moore: "You would think this town would be tired of Donald Trump being right all the time. This president has always had the ability to see around corners and make decisions that are best for the country or his business. We need to have that ballroom built. God bless… pic.twitter.com/nosaVo0qJu
— Aaron Rupar (@atrupar) April 28, 2026
Sarah Longwell, a former Republican pollster who left the party over her disgust with Trump, pointed to polling averages aggregated by data analyst Nate Silver showing that nearly 69% of Americans disapprove of the president's handling of the cost of living, and suggested the push for the ballroom was wildly out of touch with Americans' concerns.
"You know what’ll turn these numbers around? A taxpayer-funded ballroom," she wrote sarcastically.
- Despite Trump's Boasting of Strong Economy, 62% of Americans Report No Financial Improvement Since 2016 ›
- Nearly Half of Americans Say Their Financial Security Is Getting Worse Under Trump ›
- Report Shows 'Financial Insecurity Is Widespread and Runs Deep' in Trump Economy ›
- 'We Can Tell': Trump Confesses He Doesn't 'Think About Americans' Financial Situation' When It Comes to Iran War | Common Dreams ›