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Economy & Markets

Fox News Power Rankings: Voters Say They're in Economic Pain, but Will Democrats Gain?

A majority of Americans disapprove of President Trump's handling of the economy as Democrats seek to capitalize on voter discontent heading into the midterms.

⚡ The Bottom Line

Economic discontent is real and measurable, with majorities disapproving of Trump's handling of the economy and believing the system works against them. Whether that translates to Democratic gains depends on whether voters believe the party offers credible solutions rather than simply opposition to the status quo. The Senate map remains competitive but tilted toward Republicans given the electo...

Read full analysis ↓

About a year and a half ago, President Trump told a Michigan audience he would make America affordable again. Voters responded by sweeping the swing states and posting stronger performances in every state than four years prior. Now, those same voters are sending a different message: a majority disapprove of Trump's handling of the economy, and their discontent extends beyond tariffs and gas prices to broader concerns about whether the system works for them.

The shift in voter sentiment has created an opening for Democrats as they seek to gain ground in November's midterm elections. The party out of power typically benefits when voters are unhappy with economic conditions, but polling suggests Americans aren't necessarily convinced Democrats have better solutions.

What the Left Is Saying

Progressive economists and Democratic strategists argue that Trump's signature policies have failed to address the core kitchen-table issues facing working families. They point to healthcare costs (28%) and housing costs (19%) as the top concerns cited by voters in Reuters/Ipsos polling, areas where Democrats believe they have clearer contrast with Republican proposals.

Progressive candidate Abdul El-Sayed, who is running in Michigan's Democratic Senate primary, has staked his campaign on Medicare for All as a solution to rising healthcare costs. If he wins the primary, analysts will watch whether left-wing economic populist messaging can resonate with swing state voters who backed Trump in 2024.

Other Democrats argue that moderate candidates like Rep. Haley Stevens offer a better path, emphasizing an anti-Trump message combined with kitchen-table economics focused on lowering costs for middle-class families. The Democratic Congressional Campaign Committee has signaled it will support whoever emerges from the primary.

What the Right Is Saying

Republican strategists acknowledge economic headwinds but argue that Trump's policies are laying groundwork for long-term growth. They point to tariff structures and trade negotiations as necessary steps to rebalance international commerce, even if they create short-term price adjustments.

Former Rep. Mike Rogers, the presumptive GOP nominee in Michigan, represents what Republicans see as their strongest possible candidate. His campaign is expected to emphasize economic opportunity and job creation while arguing that Trump's policies have improved conditions compared to the prior administration. Republican analysts note that Rogers' narrow loss in 2024 despite favorable conditions serves as a warning against overconfidence.

Senate Minority Leader John Thune said recently that Republicans are focused on delivering results on kitchen-table issues rather than relitigating past debates. The National Republican Senatorial Committee has pointed to economic indicators showing wage growth and low unemployment as evidence of the administration's success.

What the Numbers Show

Trump's net approval on the economy has dropped 13 points to negative-37 between March and June, according to Fox News surveys. Washington Post/Ipsos polling shows a similar decline of 24 points to negative-32 over a comparable period.

Cost of living ranks as the most important factor for 46% of voters' minds, according to Reuters/Ipsos data from June. Food costs (18%) and gas prices (15%) appear in their top five concerns but rank below healthcare and housing.

Large majorities of Americans believe the country's economic system is stacked against them: 72% of middle-class adults and 86% of working-class adults hold this view, each figure up more than 30 points over the past decade.

The Senate forecast appears to be a coin flip. Assuming both parties win every seat leaning their way, each would take 48 seats with four toss-up states determining the majority: Alaska, Iowa, Maine, and Ohio. Democrats need to win three of those four races while holding Georgia, Michigan, and New Hampshire and flipping North Carolina.

Six of those eight competitive states voted for Trump in 2024, and half by double digits, for an overall average margin of 7.8 points. In the 2024 presidential race, Trump won the national popular vote by only 1.5 points but swept all seven swing states.

The Bottom Line

Economic discontent is real and measurable, with majorities disapproving of Trump's handling of the economy and believing the system works against them. Whether that translates to Democratic gains depends on whether voters believe the party offers credible solutions rather than simply opposition to the status quo.

The Senate map remains competitive but tilted toward Republicans given the electoral landscape. Democrats face a challenging path requiring wins in states Trump carried just two years ago. The Michigan race will serve as an early test of which Democratic message—progressive populism or moderate anti-Trump positioning—resonates with voters frustrated by economic conditions.

Republicans enter the cycle acknowledging headwinds but pointing to their candidate quality and structural advantages in the Senate map. The outcome likely hinges on whether economic pain dominates voters' decision-making and whether either party can articulate a convincing remedy.

Key races to watch include Michigan's August primary, which will determine whether progressive or moderate Democrats face Rogers in November. Poll data shows no evidence yet that El-Sayed would underperform in a general election, nor that Stevens would jeopardize what is normally considered a Democratic pickup opportunity.

Sources