More Americans Trust Harris Over Others to Manage the Economy

A recent survey conducted by the Financial Times and the University of Michigan reveals that Vice President Kamala Harris is eroding one of Donald Trump’s key political strengths. For an extended period, voters have indicated a preference for Republicans, including Trump, when it comes to economic issues. This trend has been attributed to various factors, particularly the notable increase in consumer prices and other significant economic changes triggered by the COVID-19 pandemic.

Additionally, the Russian invasion of Ukraine in early 2022 caused a dramatic rise in global energy prices, further impacting the prices of consumer goods and services across the board. Throughout President Joe Biden’s term, he faced significant political backlash from these economic challenges, often trailing Trump in trust ratings relating to the economy, particularly concerning inflation.

However, it appears that Kamala Harris may not be burdened by the same political ramifications. The Financial Times survey, released on Sunday, indicates that Harris is significantly outperforming Biden in terms of economic trust. Biden had been hovering around a 35 percent trust rating from voters regarding his economic competence, while Trump stood at 41 percent. In a surprising turn of events, Harris earned a trust rating of 42 percent, narrowly surpassing Trump’s figure.

This marks the first instance this year where a Democratic candidate has taken the lead over a Republican contender on economic trust issues. Importantly, Harris’s rise in popularity has occurred at a time when Trump’s ratings have remained stagnant, consistently around 41 percent for almost the entire year.

Moreover, this surge in Harris’s numbers unfolds amidst a backdrop of increasing voter pessimism regarding the economy. Between July and August, there was a three-point rise in negative sentiment, with 73 percent of voters currently expressing a bleak outlook on the U.S. economy.

The Trump campaign is facing challenges as Harris’s popularity grows in pivotal battleground states. Much of this shift can be linked to waning concerns about Biden’s age, as he previously led the Democratic ticket with plans to serve a second term, exiting the presidency at the age of 86. Such worries intensified after a presidential debate in June, during which Biden appeared confused at times, struggling to articulate his points effectively.

The emergence of Harris as a leading contender has sparked renewed enthusiasm among Democratic voters. Her campaign has evidenced a substantial wave of support as she provides a fresh alternative to a potential Trump-Biden rematch in November. Following Biden’s withdrawal from the race on July 21, Harris’s campaign garnered an impressive $310 million in July alone, and she raised an additional $36 million within just 24 hours after announcing her running mate.

Trump’s response to Harris’s rise has been one of frustration. In recent days, he has expressed his discontent over the shifting polls and held a press conference from Mar-a-Lago to launch criticisms at his new opponent.

The political landscape is shifting, showing a notable increase in trust for Harris, while Trump maintains a steady but static rating. As economic concerns weigh heavily on the minds of voters, the dynamics between these candidates continue to evolve, potentially reshaping the strategies for the upcoming election.

This new polling data serves as a reminder of how political fortunes can change rapidly. Harris’s ascent could forge a new narrative for the Democrats in the 2024 election cycle, suggesting that voters might be looking for a fresh approach to economic leadership amidst rising inflation and global uncertainties.

Source: Financial Times, University of Michigan