Is the GOP Out of Touch on the Economy?

As the nationwide average price for a gallon of gas soars, more Americans than ever say their financial situations are getting worse. Meanwhile, the Senate GOP has proposed allocating $1 billion for “security adjustments and upgrades” for President Donald Trump’s ballroom. Are Republican lawmakers disconnected from the way average Americans are experiencing the economy as the midterms loom?

Economy Eye-Opener

A record 55% of Americans now report that their financial situations are “getting worse,” according to a recent Gallup survey. Though roughly in line with 53% in 2025, the figure has climbed from 47% in 2024. “The only similar multiyear period when the larger share felt their financial situation was worsening was during the Great Recession,” Gallup noted.

The analytics and polling company found that 48% of Americans are worried about the price of “routine healthcare,” and 41% fear being unable to pay monthly bills. As a growing number of Americans face financial uncertainty, the contrast between their kitchen-table issues and the priorities of Republican leadership is hard to ignore. The economy is widely considered one of the top issues for voters heading into the midterms, and for the first time in more than a decade, Democrats have overtaken Republicans on the issue, with Americans trusting the left by a 52% to 48% margin, according to a Fox News poll. For a party losing ground on the economy, the $1 billion ballroom push does not exactly scream “we feel your pain” to the average American.

Plus, the Gallup survey was taken in mid-April, before the latest surge in gas prices, which will undoubtedly add to Americans’ financial anxiety. The nationwide average for a gallon of regular gasoline spiked 25 cents for the second week in a row, AAA reported on May 7, jumping to $4.55. “Pump prices are now $1.40 higher than they were a year ago and have reached their highest level since 2022, when the national average peaked at $5.01 per gallon,” AAA added.

Yes, the stock market is doing great, as the president has pointed out time and time again – but if Wall Street gains mattered more to average Americans than the cost of living, Republicans probably would not be falling behind Democrats on the economy.

Democrats Hatch a Plan

Decision Desk HQ’s chief elections analyst, Geoffrey Skelley, explained that President Trump “was elected in part because people thought he was a good steward of the economy when he was president the first time.”

“The fact that now he is scoring so poorly, and you have a finding like this — where the Republican advantage on the issue of the economy has shrunk to potentially nothing, at least in the Fox News data,” he added, “is, I think, problematic for making an argument for why people shouldn’t be considering change” by supporting Democrats.

The left clearly sees an opportunity to gain political ground by focusing on how the economy feels for average Americans: Progressives in the party recently offered voters what they’re calling a “New Affordability Agenda,” which includes a plan to tackle the cost of living by raising taxes on wealthy Americans.

Guess what inspired the platform? The Contract With America, which the GOP released before dominating the 1994 midterms. That should set off alarm bells for Republicans’ midterm messaging on the economy.