Likely Voters View US Economy as Deteriorating Despite Record Markets, Survey Shows
A new survey shows 56 percent of likely voters say the economy is worsening, as total taxes top spending on basic household needs.
A majority of likely voters view the U.S. economy as worsening despite record highs in major stock indexes, according to new polling from Republican survey firm McLaughlin & Associates, as national fiscal data shows aggregate tax collections surpassing total consumer expenditure on basic living costs.
The poll, conducted among likely voters who participated in recent elections, showed 56 percent of respondents believe the economy is deteriorating, compared with 37 percent who said conditions are improving. Additionally, 26 percent of likely voters said federal tax cuts enacted last year were sufficient to strengthen economic performance.
The survey results coincide with spending data analyzed by former Reagan administration official Bruce Thompson and distributed by the Committee to Unleash Prosperity. Total federal, state, and local tax revenues reached $8.192 trillion last year, encompassing personal income, corporate, municipal property, and payroll levies. By comparison, combined U.S. household spending on core necessities—food, clothing, and housing—totaled $7.388 trillion during the same period.
The figures arrive as Congress enters the final days before a statutory budget deadline without final consensus on federal spending measures or tax legislation. Recent administration disclosures cited $56 billion in annual federal waste and fraud, representing $560 billion when projected over a standard 10-year budget window.
In congressional political developments, progressive candidate Dr. Abdul El-Sayed won the Democratic primary election for the U.S. Senate in Michigan, defeating an establishment opponent backed by Senate Democratic Leader Chuck Schumer and Michigan Governor Gretchen Whitmer.
