This chart shows consumers confidence in the economy during the Biden and Trump administrations. As of June 2024, confidence in the economy under President Biden averaged nearly 28 points lower compared to during former President Trump’s term. It hit an all time low back in June of 2022. According to the latest survey from Gallup, 53 percent of Americans believe the Republican Party will do a better job with the economy compared to just 39 percent who favor the Democrats. Republicans are seen as having the advantage for the management of the economy. Voters seem to think that President Trump was a better steward of the economy than President Biden. And I think that’s going to be an important advantage for Republicans. While the U.S. technically isn’t in a recession, roughly three out of five Americans believe it is. In 2024, nearly three quarters of Americans said strengthening the economy should be a top policy priority, while a third mentioned economic issues as the nation’s most important problem.