Americans say they worry about economy. Receipts say otherwise. | Opinion
Trump needs to follow through on his promises to improve the economy and lower prices. The economy was one of the president's strong suits during his first term, and it could be again.
Ingrid JacquesI feel like I can’t go a day without reading negative headlines on how Americans view President Donald Trump and his economy, as the first year of his second term comes to a close.
(Yes, we’re only one year in.)
After record spending over the Thanksgiving weekend, however, I wonder if all the doom and gloom has been overblown.
According to reports from Adobe Analytics, U.S. consumers shelled out $11.8 billion online for Black Friday – a record and a 9.1% increase over 2024. And they spent about $14.2 billion on Cyber Monday, a 6.3% increase from a year ago. All in all, over the Thanksgiving holiday, shoppers spent a whopping $44 billion.
While many are taking on debt to cover the costs, this doesn’t strike me as the behavior of people who are scared of the economic outlook.
Americans still worry over economy, but poll numbers are improving
In a new poll from Yahoo/YouGov, 49% of respondents said Trump’s actions in his second term have raised prices instead of cutting them (24%).
Similarly, the poll found that 38% of Americans blame Trump for inflation – more than blame former President Joe Biden (31%).
That’s kind of hard to believe, considering the record levels of inflation under the Biden administration. Inflation reached 40-year highs, following several Democratic-backed big-spending bills and policies. In June 2022, it reached 9.1%.
Compare that with the 3% year-over-year increase in September. That’s still higher than it was during Trump’s first term, but it will take some time to get inflation under control.
The president is right that some prices have come down in 2025, but many others have increased – largely due to his widespread and unprecedented tariffs, which are taxes on imported goods that get passed on to consumers.
Still, that hasn’t stopped the stock market from having a mostly banner year. (I know I no longer cringe when I check my retirement account, like I did under Biden.)
While Americans remain concerned about the economy, some perspective is in order. For instance, in October 2024, Gallup showed that 43% said economic issues were the most important problem facing the nation.
In October this year, that number had dropped 19 points to 24%. Now the leading problem is "government/poor leadership" at 28%.
That sounds like an improvement on the economy to me.
Trump took swift action on the border. He has to keep focused on the economy.
Inflation and illegal immigration were the leading issues in 2024 that led to the reelection of Trump. And Trump promised to address both problems right away.
He certainly followed through on the southern border, effectively ending illegal border crossings in a matter of weeks.
Now, Trump needs to follow through on his promises to improve the economy and lower prices. The economy was one of Trump’s strong suits during his first term, and it could be again.
A Nov. 14 White House press release pronounced the following: “Since Day One, the Trump Administration has been on a mission to tame Biden's inflation crisis, stop the sky-high Biden price increases, and lower costs for everyday families – and while it can't happen overnight, evidence shows the trend is in the right direction.”
It’s true. It can’t happen overnight.
Yet, Trump’s stubborn insistence that tariffs are the way to go is backfiring. More voters will keep transferring blame for high prices from Biden to Trump – and that could have a real impact on the 2026 midterm elections.
If Trump is serious about lowering prices and improving the economy, he knows exactly what to do.
Ingrid Jacques is a columnist at USA TODAY. Contact her at [email protected] or on X, formerly Twitter: @Ingrid_Jacques