A majority of Americans, including Republicans, say they do not have enough income to lead the life they want, Pew Research Center reports in a new study.
The analysis, based on a survey taken in advance of the high-stakes midterm elections, finds that most Americans, regardless of political party, are struggling with rising costs.
Prices are up 3.7% in the past year and about 30% since January 2020
.Nearly two-thirds of Democrats and Democratic-leaning Americans said they don’t currently have sufficient income to “lead the kind of life they want,” according to the Pew report. A slender majority of Republicans and Republican-leaners – 52% – agreed with the statement.
The survey found Republicans more optimistic than Democrats about their finances,
but not by much:
- 51% of Republicans, and 45% of Democrats, said they have enough savings to cover three months of living expenses.
- 43% of Democrats, and 51% of Republicans, said they were able to save for the future in the past year.
- 78% of Republicans, and 69% of Democrats, said they can typically pay all of their bills in full every month.
The Pew Research report, released Oct. 14, draws from a survey conducted from July 20 to Aug. 9. Pew Research is a nonpartisan think tank.
“We wanted to go beyond the talk of affordability,” said Juliana Horowitz, senior associate director of research at Pew Research. “We wanted to zoom in on what’s happening in families and in people’s homes. . . . What we found is that many Americans are experiencing economic instability.”
Many Republicans now say Trump has hurt the economy
Republicans are increasingly joining Democrats in criticizing President Donald Trump on the economy, a trend documented in another recent Pew Research report.
The share of Republicans and Republican-leaning Americans who said economic conditions in the United States are “excellent” or “good” dropped from 49% in January 2026 to 36% in October, Pew found. About 21% of all Americans think the economy is excellent or good, as of October, Pew found.
Three-quarters of Americans said they are “very concerned” about the price of gasoline, food and consumer goods in a survey conducted from Sept. 28 to Oct. 4.
Fewer than half of Republicans and Republican-leaners now credit Trump’s economic policies with making the economy better. That quotient dropped from 57% in January to 39% in October. Thirty-five percent said his policies "have made things worse," up from 18% in January.
Overall, 19% of Americans now say Trump’s policies have made the economy better.
Americans are struggling to afford necessities
The latest Pew Research report delves into household finances. It finds that 44% of all Americans had trouble affording one or more basic necessity in the past year. Here’s a breakdown:
- 28% of adults had trouble paying for medical care
- 22% struggled with daily transportation costs
- 21% struggled to pay their rent or mortgage
- 20% got food from a food bank or pantry
Americans are worrying more about their finances. Nearly four in 10 adults said they worry every day or almost every day about being able to save for retirement. One third said they worry regularly about the cost of health care. The same share said they worry frequently about how much debt they have.
The Pew study’s finding, that Americans feel they don’t have enough income to live as they wish, cut broadly across gender, race, age and political party.
Pew identified just three demographic groups with majorities saying they have enough income for the life they want: Americans 65 and older, upper-income Americans and adults with bachelor’s degrees.
In another sign of the economic times, Pew found that 7 in 10 Americans said they have cut back on “extras,” forgoing little extravagances like eating out or subscribing to a streaming service.
The impulse to cut back cuts across every demographic group, Pew found, including the wealthy.
This article originally appeared on USA TODAY: Most Republicans say they don't have the income for the life they want
