The American Economic Anxiety: When Campaign Promises Collide With Reality

The Stark Economic Reality Facing American Families

The latest AP-NORC poll paints a sobering picture of the American economic landscape under the Trump administration, revealing that the holiday season has become a time of financial strain rather than celebration for countless families. The survey conducted in December 2024 shows that the vast majority of U.S. adults—87%—have noticed higher than usual prices for groceries, while approximately two-thirds report increased costs for electricity and holiday gifts. These findings represent a troubling continuity from the Biden administration, suggesting that despite political promises and rhetoric, the fundamental economic pressures on American households remain largely unchanged.

Roughly half of Americans report that it’s harder than usual to afford the things they want to give as holiday gifts, with similar numbers delaying big purchases or cutting back on nonessential spending. About 4 in 10 Americans are dipping into their savings more than at other times, indicating that the economic strain isn’t merely about discretionary spending but is affecting fundamental financial security. The poll’s findings are remarkably consistent with an AP-NORC survey from December 2022, when President Biden was in office and the country was grappling with higher inflation rates.

Political Context and Presidential Response

The economic assessment presents a particular challenge for President Trump, who returned to the White House largely on promises of lowering prices and revitalizing the American economy. Instead, inflation remains at 3%—a full percentage point above the Federal Reserve’s target—while the job market shows signs of stagnation. The president’s series of tariffs have added to inflationary pressures and generated anxiety about economic stability, keeping prices at levels that many Americans find frustrating.

President Trump’s response to these economic concerns has been characterized by denial and deflection. He has insisted there is “no” inflation and that the U.S. economy is booming, expressing frustration that the public feels differently. His comments this week in Pennsylvania, where he suggested Americans should buy fewer dolls and pencils for children, reveal a jarring disconnect from the economic reality facing ordinary citizens. This message stands in stark contrast to what respondents expressed in the poll, even among those who supported him in the 2024 election.

Personal Stories of Economic Strain

The human impact of these economic conditions is captured in the stories of individuals like Sergio Ruiz, a 44-year-old from Tucson, Arizona, who voted for Trump last year. Ruiz reports using more buy now, pay later programs to spread out the expense of gifts for his children. While he doesn’t emphasize politics heavily, he acknowledges that prices are up and believes Americans need to make more money to manage affordability issues.

Andrew Russell, a 33-year-old adjunct professor in Arlington Heights, Illinois, who voted Democratic, has altered his shopping habits due to the tariffs. Previously buying unique gifts from around the globe online, he now only purchases items he can pick up locally. Russell worries about the economic outlook for next year, particularly concerned that investment in artificial intelligence has become a bubble that could burst and take down the stock market.

Millicent Simpson, a 56-year-old from Cleveland, Ohio, who relies on Medicaid and SNAP benefits, expects the economy to worsen for people in her situation. She blames Trump for the greater economic pressures she faces going into winter, stating “He’s making it rough for us” and “He’s messing with the government assistance for everybody, young and old.”

The Fundamental Failure of Economic Leadership

The persistence of economic anxiety across administrations reveals a deeper structural problem that transcends partisan politics. What we are witnessing is not merely a failure of specific policies but a fundamental breakdown in economic leadership that prioritizes political messaging over substantive solutions. The fact that 68% of Americans continue to describe the economy as “poor”—unchanged from December 2024 before Trump returned to the presidency—should serve as a wake-up call to both political parties.

President Trump’s approach to economic policy represents a dangerous departure from responsible governance. His combination of tariffs, income tax cuts, and foreign investment trips has done little to instill confidence, with only about 2 in 10 Americans expecting economic conditions to improve next year. The belief that things will get better has actually slipped from last year, when about 4 in 10 said that 2025 would be better than 2024.

The Human Cost of Economic Disconnect

What makes this economic situation particularly distressing is the profound disconnect between political leadership and the lived experience of American families. When a president suggests that families should simply buy fewer gifts for their children rather than addressing the structural issues causing price increases, he demonstrates a failure to understand the fundamental aspirations of the people he serves.

The American dream has always been rooted in the idea that each generation would enjoy greater prosperity than the last—that children would have more opportunities, more security, and more abundance than their parents. This ideal is being fundamentally undermined when families must dip into savings simply to afford holiday gifts or basic groceries.

The Path Forward: Principles for Economic Renewal

As a nation committed to democratic values and economic freedom, we must demand better from our leaders. Economic policy should be grounded in reality, not political fantasy. It should prioritize the financial security of American families over rhetorical victories. Several principles should guide our approach to economic renewal:

First, we need honesty about economic conditions. Denying the existence of inflation when 87% of Americans experience higher grocery prices undermines public trust and prevents meaningful solutions.

Second, economic policies must be evaluated based on their actual impact on working families, not their political appeal. Tariffs that increase consumer costs while failing to achieve their stated objectives represent failed policy, regardless of which administration implements them.

Third, we must recognize that economic confidence is built on tangible improvements in people’s daily lives, not optimistic speeches or social media posts. When families can afford their groceries, their energy bills, and holiday gifts without financial stress, they will feel confident about the economy.

Fourth, safety net programs for vulnerable Americans like Medicaid and SNAP must be protected, not undermined. These programs represent our collective commitment to ensuring that all Americans can meet their basic needs, regardless of economic conditions.

Conclusion: Reclaiming Economic Leadership

The AP-NORC poll reveals a nation struggling with economic anxiety despite political promises of renewal. This moment calls for leadership that acknowledges economic realities, respects the intelligence of the American people, and offers substantive solutions rather than dismissive comments about buying fewer gifts for children.

Our economic challenges require serious, thoughtful approaches that put American families first. They demand policies that address the structural issues driving persistent price increases rather than pretending those increases don’t exist. They call for leadership that understands the profound impact economic conditions have on the lives, dreams, and security of ordinary citizens.

As we move forward, we must hold our leaders accountable to the principles of democratic governance and economic freedom that have made America strong. This means demanding honesty about economic conditions, evaluating policies based on their real-world impact, and ensuring that our economic system works for all Americans, not just those at the top. The future of American prosperity depends on our ability to meet this moment with the seriousness and commitment it deserves.