'Financial insecurity is widespread and runs deep' in Trump economy: report

U.S. President Donald Trump vowed to immediately bring down inflation upon taking office, but a Thursday report from the Century Foundation finds that Americans' finances are still in a very precarious condition.

The Century Foundation commissioned a survey last month with polling firm Morning Consult and found that roughly 6 in 10 Americans say that Trump's policies are to blame for their current financial struggles. However, the report also emphasized that Americans' "financial insecurity is widespread and runs deep," and that their concerns stretch back well before Trump's second term.

"More than 4 in 5 Americans (83%) are concerned about the price of groceries, with nearly half (46%) saying they are very concerned," writes the Century Foundation. "Nearly half (47%) of Americans are worried about their current ability to pay their rent or mortgage. And nearly two-thirds (64%) worry about their ability to pay an unexpected medical expense if one should arise. Nearly half of all Americans (48%) believe they would have difficulty paying an unexpected $500 bill without borrowing."

These anxieties were particularly strong among younger Generation Z voters, as well as among Black and Latino voters across all age demographics.

Even more troubling, the survey found that Americans are increasingly using financially risky strategies to keep up with paying their bills.

"More than a third of Americans are turning to high-cost debt to cover their bills," writes the Century Foundation. "Significant shares have also had to turn to credit cards (37%) or take on debt (29%) to afford the bills. This is consistent with the larger trends in use of credit products, like the notable shift in use of 'buy now, pay later' products for groceries. The rates of families using credit card debt to cover expenses is all the more concerning as credit card delinquencies continue to rise."

Roughly 2 in 5 Americans reported dipping into their personal savings at least once in the last year in order to pay their bills, while 1 in 4 Americans reported skipping out on meals to make ends meet, the survey found.

When it comes to what Americans see as the major obstacle to having a lower cost of living, the survey found that they considered unchecked corporate power to be the main culprit.

"Across party lines, Americans believe that tamping down corporate power will help them," writes the Century Foundation. "According to most Americans, actions that hold the wealthy and powerful accountable would help them and people like them. That includes reducing the influence of money in politics (60%), prosecuting companies that cheat workers and consumers (60%), and raising taxes on the rich (57%)."

The Century Foundation's poll isn't the only one to release this week to show Americans are highly anxious about the economy. A poll conducted by YouGov on behalf of U.K.-based newspaper The Timesfound that 50% of Americans believed the economy was getting worse under Trump's watch while just 24% said it was improving.

This poll similarly found that Americans are concerned about the cost of living and the impacts that Trump's tariffs will have on their ability to afford basic necessities such as groceries.

"The honeymoon at the beginning has gone: Inflation and jobs are still the leading issues and there is not a perception of anything improving," explained YouGov analyst Mark Blumenthal. "The survey suggests that Trump's two flagship economic initiatives—his tariffs and the One Big Beautiful Bill—are not perceived as helping the economy."

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