Over 60% of Americans are pessimistic about the economic outlook! CNBC poll: people are cutting back on spending, and most blame inflation on Trump

Anxiety among U.S. residents about the state of the economy is rapidly intensifying! According to a report by International Business Times, the latest CNBC poll shows that as many as 61% of Americans feel pessimistic about the current and future economic outlook, the highest level in nearly two and a half years. What’s drawing even more attention is that more than 60% of respondents are strongly dissatisfied with how President Donald Trump handles the economy, indicating that persistent inflation and mounting pressure from the cost of living have severely shaken voters’ confidence in the governing administration.

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• Trump’s economic approval hits a new low in political career
• Soaring prices trigger “sticker shock,” prompting people to cut household spending hard
• Cutting SNAP benefits becomes the breaking point

As the U.S. midterm elections draw nearer, pessimism about the overall economy among voters is spreading across the country. On July 17, 2026 (Taipei time), International Business Times reported that a new nationwide poll conducted by CNBC revealed a worrying economic warning sign: as many as 61% of respondents feel pessimistic about the current economic conditions and future outlook, marking the highest record since December 2023.

In contrast, only 25% (one quarter) of Americans are optimistic about the economic outlook. Public Opinion Strategies, the polling firm’s analyst Micah Roberts said bluntly: “Voter sentiment is clearly in the dumps.”

Trump’s economic approval hits a new low in political career

At the same time that public confidence in the economy is collapsing, President Donald Trump is becoming the primary target of public frustration. Data show that as many as 60% of respondents “do not agree” with how Trump has handled economic issues, while only 38% say they agree. The report emphasizes that this is the worst evaluation Trump has received in his political career on economic matters; most U.S. voters have clearly placed the blame for deteriorating economic conditions on the Trump administration.

Soaring prices trigger “sticker shock,” prompting people to cut household spending hard

The root of this strong political dissatisfaction lies in the financial pressure people are feeling deeply in daily life. With prices continuing to rise, U.S. consumers’ behavior has changed significantly. The poll indicates that as many as 47% have already started cutting back on buying “essentials” such as food and healthcare, up sharply by 6 percentage points compared with April this year. Meanwhile, the proportion of people cutting back on “non-essentials” consumption such as dining out is even as high as two-thirds (about 66%), also up by 5 percentage points.

Another report from Bain & Company, combining NielsenIQ data, also confirms the trend: in June this year, the total grocery purchase volume in the U.S. fell by 1.8% compared with the same period last year. The report vividly compares it this way: a major grocery haul in 2019 might have cost $300, but the same goods now cost $400. This dramatic price increase not only hits the typical wage-earning class, but even high-income consumers are experiencing severe “sticker shock,” forcing them to start looking for cheaper alternatives in the market.

Cutting SNAP benefits becomes the breaking point

Beyond persistently high grocery prices and rising fuel costs, recent policies from the Trump administration have further intensified survival pressure for low- and working-class people. The report says that the Trump administration’s reduction of Supplemental Nutrition Assistance Program (SNAP) benefits—commonly known as “food stamps”—has become one of the major sources of stress for many families. As people expect the economy to worsen further (41% expect it to worsen, while only 29% expect it to improve), this strong negative sentiment could inject a huge variable into the upcoming election.