Recent trends reveal growing economic anxiety among the American populace, as evidenced by a surge in searches for "bankruptcy lawyer," which reached the highest levels since 2004 in June, according to Google Trends data. Although there was a slight decrease in searches during September and October, they rose again in November, indicating persistent financial concerns.

The Federal Reserve Bank of New York’s Center for Microeconomic Data reported an increase in the average probability of individuals being unable to make minimum debt payments, rising from 12.6 percent in September to 13.7 percent in November. Concurrently, optimism about future financial conditions has waned, with only 4 percent of respondents believing they will be "much better off" in a year. An AP-NORC poll further highlighted that 68 percent of U.S. adults view the economy as "poor," marking a significant decline in confidence in economic management, particularly under President Donald Trump, whose approval rating for handling the economy fell from 40 percent in March to 31 percent in December.

In the political arena, the influence of economists in U.S. policymaking has diminished, as both major parties increasingly adopt policies that diverge from traditional economic principles. President Biden has been criticized for ignoring inflation warnings from economists, while Trump has dismissed economic arguments against tariffs. This shift has led to the endorsement of policies such as price controls, which many economists argue are counterproductive. The rise of populism on both sides of the political spectrum has fueled skepticism towards established economic advice, complicating the development of effective solutions to address economic challenges.

As the 2026 midterm elections approach, affordability concerns are becoming a focal point for voters. Representative Alexandria Ocasio-Cortez expressed optimism about potential Democratic gains, particularly in Republican-held districts, citing the financial pressures faced by constituents. Polling data indicates that nearly half of respondents are struggling with essential costs, such as groceries and healthcare, with significant portions reporting they have skipped medical appointments or medications due to financial constraints.

On the healthcare front, the impending expiration of expanded Affordable Care Act (ACA) subsidies is expected to lead to substantial increases in health insurance premiums for over 20 million Americans. Despite growing public support for the ACA, which stands at 57 percent, the Republican Party has voted to allow these subsidies to expire, potentially jeopardizing their electoral prospects. The ACA was designed to expand coverage while maintaining the employer-based insurance model, yet the GOP's ongoing resistance to healthcare expansion may prove politically detrimental as millions benefit from its provisions.

Overall, the current economic landscape, characterized by rising costs and declining public confidence, poses significant challenges for policymakers. The sidelining of economists and the failure to address pressing economic issues may hinder the development of effective solutions that meet the needs of the American populace.