A CNBC survey reveals that a significant portion of Americans are prepared to back Trump and his agenda.

A CNBC survey reveals that a significant portion of Americans are prepared to back Trump and his agenda.
A CNBC survey reveals that a significant portion of Americans are prepared to back Trump and his agenda.

While Americans are prepared to back President-elect Trump in his second term and some of his campaign promises have been approved, the CNBC All-America Economic Survey reveals that the public is issuing caution signals on certain aspects of the Trump agenda.

Despite winning the popular vote in the 2020 election, Trump takes office for the second time with less net support in the poll compared to 2016. Specifically, 54% of the public are comfortable and prepared to support him as president, down two points from when he took office in 2016. On the other hand, 41% are not comfortable, up five points from 2016.

"In 2016, a few individuals expressed uncertainty and adopted a wait-and-see approach, according to Jay Campbell, partner at Hart Research, the Democratic pollster for the survey. However, the numbers have significantly decreased by half or more, as people now have a clearer understanding of what to expect with Donald Trump as president."

A nationwide survey of 1,000 individuals was conducted from Dec. 5 to Dec. 8. The survey has a margin of error of +/- 3.1%.

The survey reveals that 60% of respondents believe that deploying the military to the border to stop illegal drugs and human trafficking should be a top priority for the new administration, with an additional 13% saying it should be done later in the term. However, only 24% of people oppose the proposal outright, including 51% of Democrats, 12% of independents, and 3% of Republicans. Furthermore, majorities of Americans support cutting individual taxes, increasing deportation of undocumented immigrants, reducing the size of government, drilling for more oil on federal lands, and cutting taxes and regulation for businesses.

The most contentious issue for President-elect Trump's plans is his plans to pardon those convicted of crimes from the Jan. 6 protest, with only 43% supporting it and 50% opposing it, including 87% of Democrats, 46% of independents, and 18% of Republicans. This is the issue with the single largest Republican opposition. Additionally, support for tariffs is lukewarm, with only 27% backing them outright and 24% saying it can be done later in the term. This is opposed by 42% of respondents.

The majority of Americans believe their personal financial situation and the overall U.S. economy will improve during the second Trump presidency, with 51% expecting each to improve, compared to 41% in 2016.

The percentage of people believing they would be worse off under Trump has increased, indicating that he is currently more polarizing than during his first term.

As President Biden departs from office, Americans are generally pessimistic about the economy. Only 25% of Americans believe the economy is excellent or good, while 73% say it's fair or poor. Biden's final economic approval rating is 36%, with 58% disapproving. His net positive rating of -22 is an improvement from his worst numbers in 2022 but is still deeply negative and far from the +5 he had at the start of his term.

The economic outlook among Americans has improved significantly, with 46% expecting the economy to improve in the next year, up from 37% in October. This shift is largely due to the enthusiasm of Republicans following the election, while Democrats' views have become more pessimistic.

According to Micah Roberts, partner at Public Opinion Strategies, the Republican pollster for the survey, Trump is entering his second term with a more pessimistic outlook on the current economy but a more optimistic attitude about the future.

Since 2019, the most positive Americans have been on stocks, with 40% saying now is a good time to invest, compared to 27% who say it's a bad time. This represents a massive swing from last quarter and the past 3 1/2 years when Americans were neutral to deeply negative on stocks. The change was driven by a complete about-face by Republicans on the stock market after the election, with them now 56 points more positive on whether this is a good time to invest in stocks compared to August.

While cryptocurrencies are currently popular on Wall Street, they are not yet widely owned or considered the best investment on Main Street. The survey found that only 13% of the public owns crypto and 15% says it's the best investment right now. This is an increase of 4 points since the last survey in 2022, but it still lags behind other investment options such as real estate, stocks, gold, and savings accounts. Only 7% of the public would accept their wages in crypto, while another 22% might consider it in the future. However, more than three in five, or over 61%, will never accept their wages in crypto.

The youngest age group, aged 18 to 34, accounts for one-third of crypto owners, while only 9% are aged 65 and older.

by Steve Liesman

Markets