Is the economy better than before Trump retook office? See the data

Key Points:

• Former President Donald Trump urged voters to act as if he were on the ballot in the 2026 midterm elections, arguing that Republican candidates perform better when associated with him, despite mixed public approval of his economic handling.
• Economic indicators during Trump's second term show mixed results: consumer sentiment remains low, inflation persists with rising shelter and food costs, and gas prices have surged due to geopolitical conflicts, contradicting Trump's promises to lower the cost of living and gas prices.
• Job growth has slowed compared to previous years, with manufacturing employment slightly declining but showing some gains in durable goods; meanwhile, GDP growth has been steady but unremarkable, and the federal deficit has increased, reaching nearly $2 trillion in fiscal year 2026.
• Trump's trade policies, including tariffs, have not significantly reduced the U.S. trade deficit, which fluctuated but remained high; tax refunds increased modestly, benefiting higher-income earners more, while mortgage rates rose, worsening housing affordability despite a slight drop in median home prices.
• Despite Trump's pledge to protect Medicaid and Medicare, the "One Big Beautiful Bill" enacted under his administration includes cuts and new eligibility rules projected to increase the number of uninsured Americans by millions over the next decade.