Poll: Republicans think economy is great, Democrats don’t
How’s the US economy doing? Increasingly, the answer depends whether you’re a Republican or a Democrat.
While Americans’ views on the economy have always been linked to political leanings, they’ve become even more partisan, according to a Pew Research Center survey released Wednesday.
Virtually all of the increase in positive perceptions of the economy since President Donald Trump took office in 2017 has been among Republicans, the survey found.
Some 75% of Republicans and independents who lean Republican say that economic conditions are “excellent” or “good,” according to Pew. This is particularly true among upper-income Republicans, 89% of whom feel this way.
But only 41% of Democrats and Democratic leaners say the economy is “excellent” or “good,” with only 55% of well-off Democrats sharing this view.
Trump has repeatedly trumpeted the strength of the economy during his presidency, with good reason. The unemployment rate dropped slightly to 3.5% in November, matching a 50-year low also reached in September. The stock market has also been hitting records, with the S&P 500 notching all-time highs 11 times in November alone.
But 2020 Democratic presidential candidates, meanwhile, argue that the wealthy have been benefiting under Trump at the expense of middle-class and low-income Americans.
Americans in both parties feel they personally aren’t reaping benefits from the economy, according to Pew. Overall, only 31% of respondents feel the economy is helping them, while 46% said it is hurting them.
Only 42% of Republicans said that current economic conditions are helping them and their families. Some 32% said the economy is hurting them, while 26% said it’s neither hurting, nor helping.
Lower-income Republicans had an even dimmer view, with 47% saying current economic conditions are hurting them.
Among Democrats, only 23% said the economy is helping them, while 57% said it is hurting them and another 19% said it’s neither hurting nor helping.
Some 65% of lower-income Democrats feel that current economic conditions are hurting them and their families.
Generally, nearly seven in 10 Americans feel that the economy is helping the wealthy, while 58% say it is hurting the middle class and 64% think it is hurting the poor.