Most American Voters Trust Governors Over Trump on Reopening Economy

Strategic Insights -

A new poll for the Financial Times and the Peter G Peterson Foundation has revealed that 71% of likely voters have more confidence in their governor than in President Trump to make the right decision on easing social distancing and curbs on non-essential businesses. The survey comes as the US labor department reported 3.2 million Americans filed for first-time unemployment claims in the week to May 2, taking the total number of applicants for jobless benefits to 33.5 million since the start of the lockdown seven weeks ago.

Key Takeaways:

  • The FT-Peterson poll found that 48% of Americans believe President Trump's policies have helped the economy, the lowest since November, and only 34% think they are better off financially than they were when Trump took office, also the lowest since November.
  • 90% of Democrats and 78% of independents trust their governor over President Trump, while even among Republicans, almost half (45%) sided with their state's leader.
  • The survey underscores the challenges facing President Trump, who had staked his bid for re-election in November on a strong economy.
  • 69% of people polled said their family's income had been reduced during the coronavirus pandemic.
  • The US Congress has passed almost $3 trillion in economic stimulus measures, but demand for federal loan schemes has outstripped supply.
  • Most Americans think it will take longer than a year for the economy to rebound, with 56% saying it would take a year or more for the economy to "fully recover".
  • The White House insists that the US economy will bounce back before the end of the year, but Vice President Mike Pence's statement that 2021 will be "one of the best years in the history of our economy" was met with skepticism.

Statistics:

  • 71% of likely voters trust their governor more than Donald Trump to make the right decision on reopening the US economy.
  • 48% of Americans believe Trump's policies have helped the economy, the lowest since November.
  • 34% of Americans think they are better off financially than they were when Trump took office, the lowest since November.
  • 3.2 million Americans filed for first-time unemployment claims in the week to May 2.
  • 33.5 million Americans have applied for jobless benefits since the start of the lockdown seven weeks ago.
  • Almost $3 trillion in economic stimulus measures have been passed by the US Congress.
  • Demand for federal loan schemes, such as the Paycheck Protection Program for small businesses, has outstripped supply.

Sources:

  • "Americans lose faith in Trump's economic management", Financial Times
  • Peter G Peterson Foundation
  • US Labor Department
  • Fox News
  • AFP