Americans disagree with the experts when it comes to whether they are better off financially under President Trump.
The economy is still expanding, but 46% of 1,017 Americans in a recent poll said their financial situation has stayed about the same since the president took office in 2017 and an additional 21% said their finances have gotten worse, according to the survey, “Experts vs. Everyday Americans,” released Wednesday by Bankrate.com, a consumer information website focused on finances.
All of the eight economists and financial experts asked—from policy organizations and wealth management firms—said Americans should be better off financially since President Trump took office.
A gap also exists between the experts and average Americans on who should take credit for the record-breaking expansion that has taken place. Thirty-two percent of Americans credit President Trump for the economic growth, while only 13% of experts agreed. The gap is much smaller between the 27% of Americans who credit former President Obama and the 25% of experts who agreed.
“As Americans become more focused on the presidential campaign and as a Democratic nominee emerges, our survey results appear to be a mixed bag for President Trump,” said Mark Hamrick, a senior economic analyst for Bankrate.com, in a statement.
Differences emerge when those polled are broken down into various demographic groups. More than half (54%) of Republicans said their finances have improved since President Trump took office, while 21% of Democrats and 24% of independents said their finances have improved.
Twenty-six percent of women said their finances have improved, while 37% of men agree.
The experts and average Americans agree that health care and employment are the top two issues in the 2020 presidential election, but they disagree on the third most important issue. Average Americans named taxes as No. 3 in importance, while economic experts named foreign trade. Housing affordability crept into the third sport for some demographic groups such as Democrats, women and millennials.
“Amid signs that the U.S. economy may have peaked, Americans’ collective focus on the job market presents risks for President Trump if a significant slowdown emerges,” Hamrick said.