May 19, 2025

Permission to republish original opeds and cartoons granted.

Poll: 51 Percent Say U.S. Economy ‘Strong’ For The First Time Since July 2021 As Financial Pessimism Plunges 

By Robert Romano 

51 percent of Americans say the U.S. economy is “strong” for the first time since July 2021, according to the latest Harvard-Harris poll taken May 12-15. That was about the time that inflation had crossed over 5 percent in former President Joe Biden’s first year in office, and the time when Biden’s approval rating began to go underwater, never to return. 

The Harvard-Harris poll also similarly shows that the percent of Americans saying their financial situation is improving is up to 34 percent, the highest it has been since the summer of 2021. And the percent saying it was getting worse was down to 39 percent, the lowest it has been since the summer of 2021. 

In addition, the number of Americans saying inflation was the worst problem was down 4 points from April to its current level of 34 percent. It’s still the most important issue. But the decrease in worry comes as consumer inflation measured by the Bureau of Labor Statistics (BLS) has slowed to 2.3 percent in April, the lowest it has been since February 2021. 

As inflation eases in 2025, as gas and food prices get lower, the American people are feeling more upbeat about the economy — meaning the actual numbers, not just those reported by BLS, but those experienced by households are what will ultimately matter towards public attitudes.  

Which makes sense. During the Biden administration, after inflation peaked at 9.1 percent in June 2022, Biden tried to make the case that inflation was getting “lower,” and it was that incomes had not yet caught up to the price increases, and so when asked if they were better off than the four years earlier, most said no. 

And that was true for Gerald Ford, Jimmy Carter and George H.W. Bush, too. All experienced periods of time where inflation outpaced incomes, and all including Biden were one-term presidents.  

And so it will be with President Trump. If inflation were to start rising again dramatically, Trump and whoever succeeds him in 2028 would get blamed.  

As James Carville was fond of saying in the successful Bill Clinton presidential campaign in 1992, “It’s the economy, stupid.” And he was right. For H.W. Bush, inflation had peaked at 6.4 percent in October 1990 and in the recession that followed, unemployment peaked at 7.8 percent in June 1992. The damage was done. Confidence, once lost, is difficult to regain. 

But if things actually improve — from the perspective of the American people this can be measured by whether nominal earnings stay ahead of inflation — the political and media class in Washington, D.C. should expect Trump and whoever succeeds him to get credit for it.  

In other words, to see where approval is going to go — which will have implications for example for the Congressional midterms, where Democrats only lead by 2 points, much lower than usual for a cycle that should favor them — the thing to follow is the actual economic data. If things get better or worse, the American people will notice. 

Robert Romano is the Executive Director of Americans for Limited Government.   

To view online: https://dailytorch.com/2025/05/poll-51-percent-say-u-s-economy-strong-for-the-first-time-since-july-2021-as-financial-pessimism-plunges/ 

ALG Urges Congress To Work Through Member Concerns On Budget Bill 

May 16, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano urged President Donald Trump, House and Senate leaders to work through individual member concerns on the tax cut and border security budget bill so that it has the votes needed for passage: 

“The first draft of the One, Big Beautiful Bill extends the 2017 Trump tax cuts, ends the income tax on tips and overtime and provides tax relief for seniors who are collecting Social Security. It secures the border by finishing the border wall. It ends Medicaid for illegal aliens and has other cost savings that are passed on to the American people. But not all members are happy and some want more spending cuts to reduce deficits, while others have disagreements over the state and local tax deduction and other provisions. 

“At the end of the day, nothing will be perfect, and so Americans for Limited Government urges President Trump, House and Senate leaders to confer carefully with individual members to work through specific lingering concerns. If more spending cuts are needed to reduce deficits, then get more cuts. If more tax relief is needed, then provide more tax relief. Those are two things that the American people support. The less we spend, the less we should be taxed. Because the bill must be done under budget reconciliation, it cannot achieve every single goal, but by working deliberatively with members it will get across the finish line and only become an even Better, Big Beautiful Bill in the process. 

“Politically, the consequences of not getting the legislation done would be Congressional Republicans despite winning the popular vote, the White House, the House and the Senate could not deliver on their promises to the American people, disenfranchising 77 million voters. Making matters worse, on Dec. 31, if nothing is done, taxes will automatically increase on most Americans. If the American people had wanted taxes to go up, they could have voted for Kamala Harris. They were promised if President Trump won and Republicans had elected majorities that would not happen. If that’s the record members want to run on in 2026, then do nothing. But if members want to run on tax cuts, border security and fiscal sanity, then come together, make the compromises that are necessary, be mindful that it will never be perfect — and then pass it!” 

To view online: https://getliberty.org/2025/05/alg-urges-congress-to-work-through-member-concerns-on-budget-bill/