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The Progressive

NewsWire

A project of Common Dreams

For Immediate Release

Americans Send a Message on Affordability as Confidence Hits New Lows

President Trump promised to lower costs on day one. Ten months into his second term, his administration now says America’s affordability crisis is a 2026 problem. Meanwhile, everyday Americans are being laid off in record numbers – surging past one million this year – and credit card debt is crushing households. New data further underscores how American consumers feel about Trump’s economy as he kicks the can down the road on the highest priority for families.

Today, the University of Michigan’s consumer sentiment index preliminary data indicated that sentiment fell to 50.3 in November, down from 53.6 in October and nearly three points below expectation, marking another setback for household confidence as sentiment reaches the lowest level in three years.

Chief of Policy and Advocacy at Groundwork Collaborative, Alex Jacquez, shared his reaction:

“Americans are losing faith in the economy because they’re losing ground. Every day it becomes clearer that President Trump has no real interest in improving the lives of American families. His economic mismanagement has left households buried under record debt and rising prices. It’s no surprise consumer sentiment is at its lowest point since 2022 and households are turning to leaders who didn’t just learn the word ‘affordability.’”

The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.