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As the holidays approach, Thanksgiving becomes Trump’s economic test
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Americans are heading into the holidays uneasy about the economy, even as inflation slowly cools.
As the holidays approach, Thanksgiving has become a kind of national check-in on President Donald Trump‘s economic stewardship and whether voters believe his affordability promises are finally paying off.
That uncertainty is reflected in how consumers are approaching the holidays, cautious about big purchases but still willing to spend selectively when they find value. That mix of caution and compromise is something Joanne Hsu, director and chief economist of the University of Michigan’s Surveys of Consumers, has been tracking closely.
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«Our interviews reveal that consumers believe that now is a very unfavorable time for major purchases for multiple reasons, including high prices and high borrowing costs,» Hsu told Fox News Digital. «It is possible, however, that consumers may still be willing to spend on smaller-ticket items. That said, it is likely that consumers will be looking for value and the best way to stretch their dollars given that they generally do not feel confident about the economy at this time,» Hsu added.
President Donald Trump faces a key economic test this holiday season. (Win McNamee/Getty Images)
That disconnect between improving data and persistent pessimism poses a political challenge for Trump, who rode promises of affordability back to the White House but is now confronting voter doubts about whether that promise is being met.
According to a Fox News national survey, 76% of voters rate the economy negatively, compared with 67% in July and 70% at the close of former President Joe Biden’s tenure. Voters largely blame Trump for the downturn, with about twice as many holding him responsible for the current economy as Biden, and three times as many saying his policies have hurt them personally.
At the same time, approval of Trump’s handling of the economy has dropped to a new low, while disapproval of his overall job performance has climbed to record highs, even among some of his core supporters.
Democrats leaned heavily on affordability themes in state and local elections this fall and it paid off.
In places like Virginia, New York and New Jersey, where voters have been squeezed by high housing costs and utility bills, Democratic candidates seized on Trump’s early economic moves, including his trade policy, to argue that his policies were worsening the affordability crisis rather than easing it.
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New York City Mayor-elect Zohran Mamdani placed affordability at the center of his campaign to helm America’s largest city. (Christian Monterrosa/Bloomberg/Getty Images)
They promised to rein in energy costs, expand affordable housing and protect middle-class wages, a message that resonated with voters and analysts say, reflects a broader trend: in an economy where many still feel stretched thin, the party that speaks most directly to people’s pocketbooks often wins.
«I think they made a real strategic blunder back in January and February and that is that the president ran on inflation and promised to lower prices and then his very first and most prominent policy moves were to enact policies that were going to increase prices,» Scott Lincicome, the vice president of general economics at Cato’s Herbert A. Stiefel Center for trade policy studies, told Fox News Digital.
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President Donald Trump has previously said tariffs are a key part of his national security agenda. (Chip Somodevilla/Getty Images)
«Americans aren’t stupid, and they can put two and two together. If the guy who promised you lower prices then suddenly promises to raise prices and prices go up, well, guess what? That guy is going to get blamed,» Lincicome added.
For Trump, the real test may come not from economic data but from dinner-table conversations. If Americans don’t yet feel the relief he promised, this Thanksgiving could reveal just how far affordability remains out of reach.
economy,trade,inflation,joe biden,donald trump,economy
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Welcome to the Fox News Politics newsletter, with the latest updates on the Trump administration, Capitol Hill and more Fox News politics content. Here’s what’s happening…
-Washington officials blast conservatives for Minnesota-style day care fraud claims in new state
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Israel accuses Mamdani of pouring ‘antisemitic gasoline’ after he revokes Adams executive orders
Israel tore into New York City Mayor Zohran Mamdani after he revoked a pair of executive orders signed by former Mayor Eric Adams that supported the Jewish state.
«On his very first day as New York City mayor, Mamdani shows his true face: He scraps the IHRA definition of antisemitism and lifts restrictions on boycotting Israel,» Israel’s Foreign Ministry wrote in a post on X.
«This isn’t leadership. It’s antisemitic gasoline on an open fire.»…READ MORE.
Mamdani is sworn in as mayor on a pair of family Qurans. (Amir Hamja/Pool via Reuters)
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Get the latest updates on the Trump administration and Congress, exclusive interviews and more on FoxNews.com.
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At least seven explosions could be heard in Venezuela’s capital city of Caracas early Saturday morning, according to reports.
Low-flying aircraft were seen flying over Caracas at about 2 a.m. local time on Saturday, according to The Associated Press.
The Federal Aviation Administration issued a Notice to Air Missions at 1 a.m. EST on Saturday prohibiting all U.S. aircraft from operating «at all altitudes within Venezuelan airspace.»
NATIONAL SECURITY EXPERT PREDICTS VENEZUELAN LEADER MADURO IS ‘GOING TO BE GONE’ UNDER TRUMP PRESSURE
Venezuela’s President Nicolas Maduro looks on during a meeting at the National Assembly in Caracas, Aug. 22, 2025. (Juan Barreto/AFP via Getty Images)
The report comes as the U.S. military has been targeting alleged drug-smuggling boats in the Caribbean and Eastern Pacific.
Venezuelan President Nicolás Maduro said Thursday that his government was open to negotiating an agreement with the United States after months of American military pressure targeting drug trafficking networks tied to his government.
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The Associated Press Contributed to this report.
This is a breaking news story. Check back for updates.
venezuelan political crisis,world,conflicts
En 1991, U2 presentó “One” como parte del álbum Achtung Baby. La banda irlandesa, integrada por Bono, The Edge, Adam Clayton y Larry Mullen Jr., grabó la canción en Berlín, Alemania, durante el proceso de reunificación del país. El tema nació mientras el grupo atravesaba tensiones internas severas y una búsqueda de renovación artística. La primera interpretación pública de “One” ocurrió ese mismo año, en medio de expectativas marcadas por éxitos previos.
En la década anterior, U2 alcanzó reconocimiento mundial mediante álbumes como The Joshua Tree y Rattle and Hum. La banda realizó giras internacionales y obtuvo premios importantes. Sin embargo, de acuerdo con la crónica publicada por American Songwriter, las críticas a Rattle and Hum dejaron al grupo en una situación delicada, con dudas sobre su identidad musical. El ánimo dentro de la banda reflejaba incertidumbre, a pesar del éxito comercial.
Según varios testimonios citados por el medio, U2 eligió Berlín y los legendarios Hansa Studios para iniciar una nueva etapa. Los integrantes pretendían capturar el espíritu del cambio europeo, inspirados por la caída del Muro de Berlín. Pero el ambiente en el estudio era tenso. Bono y The Edge exploraban sonidos nuevos de la escena europea, mientras que Adam Clayton y Larry Mullen Jr. tenían posturas diferentes respecto a la dirección musical.
En el transcurso de una sesión de grabación, el grupo encontró una progresión de acordes diferente mientras trabajaba en otra canción. Ese descubrimiento cambió el clima en el estudio. Impulsados por la inspiración, finalizaron la estructura básica de “One”—acordes, melodía y las primeras letras—en solo quince minutos. Daniel Lanois, coproductor del álbum, colaboró para grabar la primera versión demo del tema.
Brian Eno, otro de los productores participantes, sugirió varios cambios al llegar semanas después. El proceso requirió meses de revisiones antes de obtener la versión finalizada en septiembre de 1991. De acuerdo con American Songwriter, la canción sirvió como punto de inflexión y permitió a la banda reencontrar cohesión artística.
La melodía de “One” alterna un verso melancólico con un estribillo luminoso. Según el análisis de la publicación mencionada, Bono aportó letras que reflejaban emociones contradictorias: resentimiento, dependencia mutua, unidad y desacuerdo. Estas sensaciones estaban presentes tanto entre los miembros del grupo como en la ciudad de Berlín en aquel momento.
Bono declaró a la prensa que el mensaje central de la canción no radica en una unidad idealizada, sino en la necesidad de convivir a pesar de las diferencias. El cantante afirmó: “Es una canción sobre unirse, pero no en un sentido utópico. Expresa que debemos aprender a convivir para sobrevivir, ya que no existe otra opción”.
En el libro autobiográfico del grupo, Bono amplió esa idea. Expresó su frustración porque algunas personas interpretan la frase “we get to carry each other” como una imposición. Explicó que la línea refleja la única salida posible: “La manera de seguir adelante depende de que nos ayudemos mutuamente”.
“One” no solo narra las diferencias que separan a las personas, sino el deber de cooperar para superar desafíos comunes. Estas interpretaciones generaron debate y múltiples lecturas a lo largo de los años. Diversos críticos apuntan que la complejidad emocional de la canción ha favorecido su permanencia en el repertorio de la banda y su vigencia cultural.
La versión definitiva de “One”, incluida en Achtung Baby, es considerada por especialistas como uno de los puntos altos de la discografía de U2. El tema se destaca por una interpretación vocal intensa de Bono, especialmente en el segmento final, cuando alcanza notas agudas características de su estilo.
En 2006, Mary J. Blige realizó una versión que aportó matices distintos. Sin embargo, para la crítica, la grabación original mantiene un lugar privilegiado en la música contemporánea. De acuerdo con American Songwriter, U2 defendió “One” como una declaración sobre la resiliencia colectiva y la importancia de elegir la unidad frente a la adversidad.
La influencia de “One” trasciende su época. La canción permanece como símbolo de reconciliación y entendimiento, atributos reconocidos tanto por la industria musical como por su base de seguidores. U2 consolidó su lugar en la historia del rock con este tema, que nació de la crisis y se proyectó como un himno universal sobre la convivencia.
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