President Donald Trump's policy approval has hit a record low, with a new CNN/SSRS poll showing that 77% of Americans believe his policies have raised their cost of living. The survey, conducted from April 30 to May 4 among 1,499 adults, paints a grim picture for the White House as midterm elections loom.

Disapproval of Trump's handling of healthcare reached 65% — the highest level recorded for any president this century, surpassing the previous peaks of 63% for both Barack Obama and George W. Bush. Overall, 70% of respondents disapprove of Trump's handling of the economy, 74% disapprove of his handling of inflation, and 79% disapprove of his handling of gas prices. His overall approval rating stands at just 35%.

The economy and cost of living were identified as the top issues by 55% of respondents, up from 42% in January. That's a big jump, and it's not hard to see why: even as Wall Street celebrates, Main Street is feeling the pinch.

On party trust, Americans give Democrats a slight edge on the economy, 35% to 33%, and a larger lead on healthcare costs, 43% to 24%. As of May 15, polling averages show Trump with negative approval ratings across major trackers: RealClearPolitics reports 40.3% approval and 56.5% disapproval, while Silver Bulletin shows 38.5% approval and 58.3% disapproval.

Here's the weird part: the S&P 500 is up 8.02% year to date, the Dow Jones has gained 2.36%, and the Nasdaq has surged 15.55%. But voter sentiment on the economy remains deeply negative. With midterm elections less than six months away, that disconnect between Wall Street gains and public sentiment presents a defining challenge for the president.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.