Donald Trump faces a bevy of legal challenges, yet the former president exudes confidence in his ability to manage the economy better than other Republican candidates in the 2024 presidential primary, as revealed by a new poll on Sunday.
What Happened: Results from the FT-Michigan Ross poll, conducted between Dec. 28 and Jan. 2, showed that 67% of Republicans believe Trump would be the best GOP candidate for handling the economy. In contrast, only 9% and 8% expressed confidence in Florida Governor Ron DeSantis and former South Carolina Governor Nikki Haley, respectively.
Seven percent chose businessman Vivek Ramaswamy as the one who can better handle the economy, while former New Jersey Governor Chris Christie received only 2% support.
The survey, which included responses from 1,000 registered voters nationwide, indicated that, overall, 36% believed Trump could best manage the economy, while 23% did not trust any candidate, and 11% did not know enough to decide.
Trump’s support is noteworthy given that 60% of all respondents disapproved of President Joe Biden’s economic handling.
A net 58% disapprove of Biden’s job as the president compared to a net 39% who approve.
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Americans Generally Pessimistic: A net 55% said they were managing to survive compared to a net 45% who said they were thriving. A net 71% held a negative view about the current economic conditions compared to a net 26% who were positive.
A net 53% said they were worse off economically, since Biden became the president, while a net 17% said they were better off. Fifty-two percent said Biden was doing little or nothing to improve economic conditions. When asked whether Biden’s economic policies, aka Bidenomics, have helped or hurt, a net 47% said it has hurt as opposed to 31% who said it has helped.
Notwithstanding the pessimism, the U.S. economy has held up fairly well under Biden. He inherited a COVID-19-stricken economy from his predecessor and GDP rose 5.9% in 2021 before slowing to 2.1% in 2022. In the first three quarters of 2023 GDP rose 2.2%, 2.1%, and 4.9%, respectively.
After a disappointing 2022, the financial markets also came back up strongly in 2023, with the S&P 500 Index, a broader market gauge, rallying over 24%. The SPDR S&P 500 ETF Trust (NYSE:SPY), an…
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