President Donald Trump is heading to California and Nevada this week to tout his economic record, but he's confronting a harsh reality: 69% of Americans say the economy is poor, and only 32% approve of his handling of it. The trip comes as voters grapple with elevated inflation, high interest rates, and what economists are calling an overstimulated economy that's raising fears in bond markets.
Trump will speak at a Republican National Committee fundraising dinner Tuesday at a golf club his family owns in Rancho Palos Verdes, then discuss the economy Wednesday at Red Rock casino in Las Vegas. But the numbers tell a sobering story. An AP-NORC poll conducted in late July found Trump's overall approval rating at 33%, slightly below where he stood at this point in his first term. Many Americans said the cost of groceries and gas was a "major" source of stress in their lives.
The Human Cost of Economic Policy
White House spokesperson Olivia Wales said Trump plans to "draw a sharp contrast between his commonsense agenda and the radical policies of Democrats like Gavin Newsom," highlighting his efforts to cut taxes, reduce fraud in government programs, and crack down on immigration and crime. Yet voters aren't connecting with that message. Stock market gains and a low national unemployment rate haven't offset the daily squeeze families feel at the checkout counter.
The trip takes Trump to California, where he'll likely target Gov. Gavin Newsom, a Democrat eyed as a likely candidate for his party's presidential nomination in 2028. Newsom's office fired back, saying Trump was traveling to California "not to help survivors of the wildfires but to raise money and attack the state with lies." Newsom added, "More than anything, we'd like the President to keep the promise he made on January 24, 2025: to 'take care of Los Angeles.' 18 months later, survivors are still waiting."
California was one of Trump's first domestic stops after returning to office in January 2025, when he surveyed the aftermath of wildfires that wiped out whole neighborhoods of Los Angeles County, left thousands homeless and killed more than two dozen people. Newsom greeted Trump at the airport on that trip and they chatted amiably, but the comity didn't last. Six months later, Newsom said "democracy is under assault" by Trump after the president sent National Guard troops and U.S. Marines into Los Angeles without Newsom's consent following protests after immigration raids by federal authorities.
Political Battlegrounds and Economic Anxiety
California Democratic Party Chair Rusty Hicks said, "Trump treats California like his personal political punching bag—right up until he needs someone to write a check. He may hit up a few billionaire donors who bankroll his political operation, but the people of California have already made it clear: they want nothing to do with his chaos and corruption."
Newsom also noted, "Welcome to the world's fourth-largest economy — growing faster than Texas and Florida combined."
Nevada, where Trump visits Wednesday, is led by Republican governor Joe Lombardo, who faces Democratic Attorney General Aaron Ford in a battle for reelection in November. The contest is considered one of the most competitive governor's races in the country. The Nevada State Democratic Party is putting up billboard signs about Trump's visit that tie him to Lombardo and higher costs. The state is grappling with a shortage of affordable housing, exploding energy demand from artificial intelligence data centers and federal cuts to key state programs.
Structural Economic Challenges
Trump has tried for several months to sell voters on his income tax cuts and claims of a manufacturing renaissance. But interest rates are high, a gallon of gasoline costs more because of the Iran war, tariffs are still reshaping the economy and, by the White House's own estimates, there's a national shortage of housing. The president called his own housing bill a "yawn," and past speeches advertised as being about the economy, including one he delivered at a General Motors facility in Michigan last week, gave way to what he calls Trumpian weaves about his political enemies and construction projects in the nation's capital.
A Reuters commentary said the U.S. economy is overstimulated, with fiscal largesse, loose financial conditions, booming business investment and near-zero real interest rates fueling a strong growth engine, raising concerns about overheating and bond-market fears. Meanwhile, a Reuters/Ipsos poll showed Democrats hold a slight edge over Republicans on economic messaging, with 37% of voters preferring Democrats' approach to the economy.
Why This Matters:
The disconnect between Trump's economic messaging and voters' lived experience reveals a fundamental challenge for policymakers: stock market gains and low unemployment don't ease the burden when families can't afford rent, groceries, or gas. With 69% of Americans calling the economy poor, the political stakes are enormous heading into November's midterms. Nevada's affordable housing crisis and California's wildfire survivors still waiting for promised aid illustrate how economic policy failures have real human consequences. The overstimulated economy that worries bond markets reflects policy choices that prioritized certain outcomes over stability and affordability. As Democrats gain ground on economic messaging, voters are signaling they want leaders who'll address the structural problems making everyday life unaffordable, not just tout abstract indicators of growth.