Cost of Living Weighs on Many Americans’ Minds

In an end-of-year address to the nation on Wednesday, U.S. President Donald Trump covered a wide range of topics from wages to immigration, as well as batting back at criticism of his approach to the economy. The POTUS repeatedly asserted that the economic hardship in the U.S. right now is thanks to former president Joe Biden.

His words come as Trump’s economic approval rating has hit a new low of just 36 percent, according to one poll. Democrats were far more likely to hold a negative view (91 percent disapproval), compared to Republicans (14 percent) or Independents (68 percent).

High prices remain a top concern among many Americans. Some 45 percent of U.S. adults selected it as the most pressing economic issue in a survey conducted by NPR/PBS News/ Marist Poll from December 9 to 11. The next most commonly picked options were housing costs, selected by 18 percent of respondents and tariffs with 15 percent.

Respondents were also asked whether or not they thought the United States was currently in a recession. Where 68 percent of Democrats said they thought it was, 53 percent of Independents and 30 percent of Republicans said the same.

Looking to the year ahead, nearly six in ten (57 percent) respondents said they were feeling pessimistic about 2026. This is up from the four in ten (43 percent) in December 2024, but more similar to the 2023 figure (59 percent).