Trump Economic Approval Hits New Lows as Polls Show Rigged System
President Donald Trump’s economic approval ratings have plummeted to historic lows, with a majority of voters now saying the country’s political and economic systems are stacked against them, according to the latest Fox News Power Rankings published Tuesday. The findings, which come just four months before the 2026 midterm elections, paint a stark picture of voter discontent that cuts across class lines.
The Depth of Discontent
The Fox News Power Rankings, compiled by lead political affairs specialist Rémy Numa, reveal that 72% of middle-class adults and 86% of working-class adults believe the system works against them — figures that have surged by more than 30 points over the past decade. The sense of systemic betrayal extends beyond partisan politics, reflecting a fundamental erosion of faith in American institutions.
“Voters listened. Trump swept the swing states, made inroads into Democratic strongholds,” Numa wrote. “The economy defined that election, as it does every election. Now, voters are saying something different: a majority disapprove of Trump’s handling of the economy, and their discontent goes deeper than tariffs and gas prices. Most Americans feel like the system is stacked against them.”
Multiple Polls Confirm Historic Lows
Trump’s economic approval has declined sharply across multiple national surveys. According to Fox News surveys, his net approval on the economy dropped 13 points to -37 between March 2025 and June 2026. The CNBC All-America Economic Survey, conducted July 8-12, found just 38% approve of Trump’s handling of the economy while 60% disapprove — a net rating of -22, the lowest of his political career in that poll. Overall approval stood at 40% approve versus 59% disapprove.
A separate Washington Post/Ipsos poll, conducted July 8-13, showed even weaker numbers: 33% approve and 65% disapprove on the economy, a net rating of -32 representing a new low for that polling series. Trump’s overall approval in that survey was 37%, with 61% disapproving.
Newsweek reported that the two polls together confirm a consistent picture of deep economic pessimism, with 61% of respondents in the CNBC survey saying they are pessimistic about the economy — the highest level since late 2023.
Consumer Strain and Cost Concerns
The economic anxiety is manifesting in tangible consumer behavior. The CNBC survey found that 47% of Americans are cutting back on essentials like food and medical care, up 6 points from April, while roughly two-thirds are reducing non-essential spending. Voters rank healthcare (28%), housing (19%), food (18%), and gas (15%) as their top cost concerns, with the cost of living the most important factor for 46% of voters.
Jay Campbell, a Democratic pollster with Hart Research who worked on the CNBC survey, said voters are still feeling the impact of rising costs. “People are still paying a lot more for stuff than they were a year and a half ago,” Campbell said, noting that this continues to “drive a lot of anger.” He added that short-term drops in gas prices are “just not enough to make up the difference.”
Republican pollster Micah Roberts, who also worked on the survey, described voters as entering the election cycle in a “distinctly sour mood,” with more expecting conditions to worsen than improve.
The Iran War Multiplier
The Iran conflict, which began with U.S. military strikes on February 28, 2026, has acted as a powerful accelerant for economic discontent. Gas price spikes directly impacted consumer sentiment, and the USA TODAY reported that 69% disapprove of Trump’s handling of the Iran conflict, with only 31% believing U.S. actions will prevent Iran from developing nuclear weapons. A tentative peace agreement has brought some immediate economic relief, including a drop in gas prices, but skepticism remains high.
Political Implications for the Midterms
Despite deep dissatisfaction, Democrats hold only narrow advantages. The CNBC poll shows Democrats leading Republicans 49%-45% on the generic congressional ballot — a modest edge in a deeply polarized environment. The Fox News Power Rankings assess the Senate as a “coin flip,” with 48 seats leaning each way and four toss-up races in Alaska, Iowa, Maine, and Ohio determining control. Democrats need to win three of those four to reach 51 seats.
In the House, Democrats hold a small lead but face structural disadvantages from Republican redistricting wins, which give the GOP an advantage of approximately 12 seats. The president’s party has lost an average of 25 House seats in Trump-era midterm elections.
White House spokesman Davis Ingle defended the administration’s record, stating that “no other President in history has accomplished more for the American people than President Trump,” and arguing that “historic progress” already made is “just the beginning.”
What to Watch
With four months until the November midterms, the central question is whether Democrats can translate economic discontent into electoral gains or whether partisan polarization will limit the swing. Key races to watch include Michigan’s Senate contest, where the Democratic primary choice between progressive Abdul El-Sayed and moderate Haley Stevens will test which message resonates with swing-state voters. The tentative Iran peace agreement’s durability and its impact on gas prices will also be critical factors shaping voter sentiment through Election Day.