Bad news for Trump ahead of the midterms: it’s still the economy, stupid

by | Oct 18, 2026 | Business

Bad news for Trump ahead of the midterms: it’s still the economy, stupid

As midterm elections draw near, economic sentiment has shifted notably across demographic groups that have historically supported Republican candidates. Recent polling shows that 38% of Republicans now believe the economy is deteriorating, up from 29% a year earlier. This increase occurs despite minimal changes in core economic indicators, with annual consumer price inflation rising slightly to 3.7% and unemployment ticking up marginally to 4.2%.

Rural Americans, a traditionally reliable Republican constituency, are experiencing particular economic strain. Sixty-four percent of rural voters surveyed this month reported the economy is worsening, compared to 52% of urban residents. These rural communities have faced multiple economic headwinds including trade barriers limiting agricultural exports, increased costs for diesel and fertilizer, labor force disruptions from immigration enforcement actions, and reduced beef prices following tariff adjustments on imported meat. White Americans, another key Republican demographic, show similar concerns, with 61% reporting economic deterioration compared to 48% two years prior.

Political scientists have documented a significant widening in how Republicans and Democrats perceive economic conditions. Research indicates the partisan gap in economic perceptions has grown from approximately 20 percentage points in the early 2000s to as high as 73 percentage points during previous years. This divergence reflects broader ideological polarization that has fundamentally altered how economic performance influences electoral outcomes.

Despite these challenging economic perceptions among core supporters, polling suggests that efforts to redirect voter attention through other political messaging may prove insufficient. Fifty-eight percent of all voters now believe the economy is deteriorating, marking a 10-point increase from comparable surveys during the prior administration. The established pattern of economic dissatisfaction, built over successive policy decisions during recent months, appears to have solidified voter concerns about economic conditions ahead of the upcoming elections.

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