- Personal finances stagnated even pre-pandemic, survey finds
- It’s now more difficult to climb wealth ladder, economist says
The “Trump Bump” hasn’t benefited most Americans, with fewer than one in six saying their personal finances have improved since Donald Trump became president, according to a survey commissioned by Bankrate.com.
Almost twice as many respondents said they’re worse off since Trump moved into the White House in January 2017, while about half of the U.S. adults polled, 45%, said their financial situation has stayed about the same.
Groups likely to report doing better under Trump included men, those identifying as white, and those earning $80,000 or more annually.
Covid-19 is only partly to blame. Three out of five of those surveyed said they failed to see any improvement in their personal wealth during Trump’s presidency, even before the coronavirus slammed the U.S., cratered the economy, and ate into stock market gains of the past three years.