One-quarter of Americans say finances improved under Trump
Most Americans believe their personal finances haven't improved since Donald Trump won the presidential election four years ago, according to a new survey published by Bankrate.com.
Roughly one-quarter of survey respondents -- 26% -- said their finances have improved since Trump moved into the White House in January 2017, while 25% said their finances have gotten worse. Forty percent of respondents said their finances have not changed over the past four years.
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Groups that are more likely to say their financial situation is better now than it was four years ago tend to be male, white, college graduates, baby boomers and individuals earning more than $80,000 or more.
“Despite the president’s rhetoric about his superior handling of the economy, Americans are very much divided as to whether they’d be better off with him still at the helm,” said Mark Hamrick, Bankrate.com senior economic analyst. "No matter which candidate is sitting in the White House after Inauguration Day in 2021, significant economic challenges will persist."
President Donald Trump arrives to speak during a campaign rally at Arnold Palmer Regional Airport, Thursday, Sept. 3, 2020, in Latrobe, Pa. (AP Photo/Evan Vucci)
But the country is fiercely divided over which presidential candidate would be better for their personal finances in the next year as the nation's pandemic-ravaged economy begins to recover: 35% of respondents said Trump, while 39% picked Democratic presidential nominee Joe Biden. One in six respondents said they are still unsure.
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“The severity of the COVID-19 pandemic and related economic downturn have shaken-up everyday lives and the political landscape with it,” Hamrick said, noting that only about one in four Americans believe their personal finances will improve by this time next year. About 13% think their finances could actually deteriorate next year, but the majority -- 39% -- anticipate things staying the same.
"That wouldn’t tend to reflect well on any incumbent president, providing Joe Biden an opportunity," Hamrick said.
The survey of 2,418 adults was conducted between Aug. 19-21.