The latest findings from the Freedom Economy Index survey, a collaborative effort between PublicSquare and RedBalloon, underscore a troubling economic reality for many Americans. With 70.5% of respondents feeling financially worse off than a year ago, the data suggests a personal recession is affecting a majority of the population. This sentiment is especially acute in swing states, where residents report being 'much worse off' at a rate 7 points higher than those in red states.
Financial instability is widespread, with 44% of survey participants unable to cover daily expenses, a situation exacerbated in blue states and among Baby Boomers. Rising costs are a universal concern, with 93% noting higher food prices, 74% facing increased gas costs, and 69% dealing with elevated utility rates in the past month. The job market offers little relief, as 63% find employment increasingly difficult to secure, and 40% of job seekers have been unemployed for over a year.
The survey also sheds light on the mismatch between education and employment, with fewer than half of college graduates working in fields related to their degrees. Workplace culture issues, particularly around DEI policies, are divisive, with 74.7% of employees reporting that such initiatives have fostered contention. Andrew Crapuchettes of RedBalloon describes the current economic climate as a unique form of recession, marked by a people shortage that leaves many employed but financially strained.
With the November election on the horizon, these economic challenges could significantly influence voter behavior. The survey's findings, particularly the heightened distress in swing states, may pose considerable obstacles for the incumbent party. As Michael Seifert of PublicSquare notes, the economy often dictates electoral outcomes, and the current data does not favor those in power. The Freedom Economy Index survey, based on responses from over 100,000 individuals, presents a clear picture of the economic anxieties that could shape the political landscape in the coming months.
