Democrats see lines of attack form against Trump on economy

Democrats see a political opportunity in the mounting frustration over President Trump’s handling of the economy. 

New polls have shown signs of disappointment with Trump amid the stock market downturn, rising prices and a potential trade war with some of the U.S.’s closest allies, giving Democrats one of their clearest offensive opportunities since he took office.

The latest numbers mark a turning point for the president, who in the past has enjoyed favorable approval ratings on his handling of the economy, but come as Democrats have struggled to unify and develop a coherent message against Trump. 

“Democrats right now have a perfect weapon to use, an opportunity to seize. Look at the economic outlook, look at the stock market, look at the S&P, look at Tesla stock,” Democratic strategist Jon Reinish said. “There is so much to hammer Trump on that is economic.” 

The economy and concerns about inflation were among Trump’s most potent weapons against the Biden administration throughout the 2024 campaign, along with immigration.

Polls throughout the cycle showed Americans largely trusted the Republican over both ex-President Biden and former Vice President Kamala Harris on economic issues, prompting Democratic soul-searching after their November losses. 

But while his handling of the border remains Trump’s strongest area, his perceived strength on the economy has started to weaken somewhat. 

The stock market plunged after Trump declined to rule out that the economy may slip into a recession. And a 25 percent tariff on certain imports from Mexico and Canada also went into effect this month after some delay, stoking trade war concerns, though Trump has since announced exemptions for some products. 

Just 18 percent in a new NBC News poll rated the economy as “excellent” or “good,” as low as the outlet has found it since 2014. Consumer confidence fell to its lowest level since 2022, according to survey results from last Friday. 

The White House touted drops in egg and gas prices in a release on Monday, crediting Trump’s slashing of regulations and “unleashing American energy” for stabilizing people’s bottom lines. Inflation also ticked down slightly in February, but it came after weeks of rising economic pressure. 

Some in the Democratic Party are clamoring for party leaders to go after Trump on the economy, seeing it as fertile ground.

“Democrats are so in the wilderness right now when it comes to messaging, I wouldn't undertake a big forensic or data driven study or exercise,” Reinish said. “Grab the low-hanging fruit.”  

A CNN poll released last week noted that Trump’s economic disapproval is “worse than at any point during his first term in office.” The poll found 56 percent of Americans were against Trump's performance on the economy, while 54 percent disapproved of his overall job handling.  

And an Emerson College Polling survey also found nearly half, or 48 percent, of voters disapproved of Trump on the economy. Overall, he saw 47 percent job approval.  

“Despite not yet delivering on the economy in voters’ minds, Trump’s support remains strong,” the poll's Executive Director Spencer Kimball said in an analysis. “However, the true challenge will be how voters perceive their financial future. While little has shifted since the election, the initial ‘honeymoon phase’ seems to be coming to an end.” 

The Economist/YouGov poll also found Trump’s approval on inflation toppled from 45 percent to 38 percent between late January and early March, while his approval on jobs and the economy fell from 49 percent to 43 percent in that same period. 

The economy is “going to be the big story” for the party, said Democratic strategist Kristen Hawn. “That's the common theme throughout this year and into next year, leading into the midterms.” 

Democratic strategist Daniel Fee said the administration has been focused on “a lot of things,” but it hasn’t been focused on lowering costs for families, even rhetorically.

He pointed to the Elon Musk-led Department of Government Efficiency’s widespread cuts across the federal government, slashing jobs as it seeks to cut out fraud and wasteful spending. 

“Whether you agree with them or you don't agree with them, one thing that has not been said, at least it's not been said clearly and concisely and unequivocally, is that these cuts will reduce the amount of money that Americans pay in taxes,” Fee said. 

“They have not made that connection between the tax cuts that they’ve been pushing or that are under discussion and the reduction in the size of government. The Republicans have lost the narrative about balanced budgets.” 

Democrats have their own hurdles to overcome — and risks to going after Trump on the economy.

The Democratic Party’s favorability rating hit a record low this week in polling from both CNN and NBC News, a problematic sign as Republicans enjoy a trifecta of power in Washington. 

“We’ve seen a rapid erosion of Democratic support for the Democratic Party since the November election,” Democratic strategist Fred Hicks said. “Democrats need to take advantage of this moment.”

GOP strategist Ron Bonjean underscored Trump’s prediction that the economy is experiencing a “transition” period that will ultimately bring in better conditions — and better polling for the president. 

“If this was in October of 2024, Trump may be concerned about it. But right now ... he believes the economy will get better well before the [next] elections,” Bonjean said.  

“It’s clear that Democrats have an opportunity if they choose to use it, but it’s also dangerous [if] the economy does continue to solidify,” he added. “That’s why I think you don’t see a lot of Democrats jumping into that space yet.” 

Longtime Republican strategist Rob Stutzman, however, argued the erosion of support for Trump’s economic performance is “the leading indicator” that his overall numbers could be headed downhill.  

“Democrats will benefit in the midterm if Trump’s in economic trouble, whether they can message correctly or not on it,” Stutzman said.  

“I’m not sure the Democrats will figure out how to message on this for a while, but if inflation goes up, obviously if we slip into a recession, they don’t have to get very specific. They can just point the finger at Trump and say, ‘he’s failed on what really was his core mission.’” 

Fee said Democrats need to show they’re taking action to support people instead of being “performative” in just holding a press conference to demonstrate their opposition to Trump. Every day that Trump doesn’t talk about making people’s lives more affordable, Democrats should point that out and show what they’re doing to try to help, he said. 

“Democrats should take a page from Republicans, and they should seize the moment and have message discipline irrespective of what happens in the future,” Hicks said. “The moment is now, and that’s what the polls show.”