The optimism Americans feel about their personal finances has touched a new high, setting the stage for President Trump to ride the economic recovery into the 2020 presidential campaign, according to a new survey.
The latest Gallup poll found that 56% rate their current financial situation as “excellent” or “good,” the highest in the poll dating to 2001.
What’s more, 69% said that they expect to be better off financially in a year, the highest for that finding in 16 years.
The survey followed the latest reports of a job creation surge and the unexpectedly strong 3.2% growth in the economy in early 2019.
Gallup noted that a strong economy is typically a huge benefit to presidents running for reelection and that Trump should receive that.
“Continued positive economic news, including sustained low unemployment and economic growth, are giving Americans some peace of mind about their own finances. As the 2020 presidential election approaches, a robust economy works in President Donald Trump’s favor, as history has shown that a strong economy can buoy a sitting president’s chances of re-election,” Gallup concluded.
However, it said that the president will have to press the issue among independents since Democrats are so anti-Trump.
“Given the sharp political polarization in the U.S. today, Trump’s inability to make inroads with Democrats means he will need to appeal to independent voters and will most certainly need economic conditions to remain positive to do so,” Gallup concluded.
While Americans worry about not having enough money for retirement or a big medical crisis, they are saving and feel good about what they’ve squirreled away.
Said Gallup:
- Just 25% said they worry “all” or “most” of the time that their family income will not meet their expenses.
- Fifty-six percent said they are currently saving money.
