Most Democrats, Republicans agree cost of living is a big challenge facing families: study

By Leonardo Blair, Senior Reporter Friday, February 07, 2025

For the primary time within the final decade, most Democrats and Republicans agree that the price of residing is without doubt one of the most essential points dealing with American households right now, in response to the outcomes of the not too long ago launched American Household Survey.

The annual nationwide research of three,000 People began in 2015 by the Deseret Information and the Middle for the Research of Elections and Democracy at Brigham Younger College highlighted a big shift within the considerations of households in 2024.

Household construction considerations are pushed primarily by People apprehensive about “mother and father not instructing or disciplining their youngsters sufficiently” and have outpaced financial or cultural considerations over the past decade till final 12 months. 

“Extra American households now fear about financial points,” the researchers wrote. “In 2015, simply over half of survey respondents selected an merchandise in that class. However financial stresses steadily elevated within the ensuing decade.”

In 2024, over 71% selected no less than one financial concern, in comparison with the over 70% who chosen a structural concern. The “prices of elevating a household,” “excessive work calls for” and “stress on mother and father” had been of particular concern to oldsters, the report notes. 

“In 2024, for the primary time ever, majorities of each events stated financial considerations are probably the most essential points dealing with households,” it reads. 

The findings align with exit ballot outcomes from the 2024 presidential election, which discovered that almost all voters weren’t proud of the economic system.

Some two-thirds of voters described the economic system as dangerous, and those that felt that method voted overwhelmingly for President Donald Trump.

Current information collected by Pew Analysis Middle’s Spring 2024 International Attitudes Survey discovered that American adults and adults from 35 different nations maintain a bleak view of what the long run holds for his or her youngsters economically. Greater than half predict that children right now will probably be worse off than their mother and father amid rising revenue inequality.

“Evidently, many People have concluded that the dynamics of the present economic system usually are not particularly household pleasant. When COVID was dominating the information and other people had been involved about jobs and placing meals on their tables, it was potential to see this pattern as a response to that disaster. However we are actually so removed from that occasion that it’s clearly not the primary purpose economics dominates the considering of increasingly People,” American Household Survey researchers stated.

The information means that Democrats constantly expressed extra concern in regards to the financial challenges dealing with households than Republicans. Whereas researchers spotlight a 25 percentage-point hole between the priority over financial challenges dealing with households between Republicans and Democrats in 2015, concern about this space has elevated over time for each events.

Concerning the financial worries of respondents within the survey, respondents highlighted a number of issues they’re “very apprehensive” about. Greater than half, 55% of the general public stated they’re very apprehensive about inflation; 43% pointed to rising tax payments; 35% flagged pursuits; 33% listed the nationwide debt, whereas 25% pointed to unemployment and the dearth of presidency help, respectively.

“Should you mix the ‘very apprehensive’ and ‘considerably apprehensive’ classes, 88% of the general public is apprehensive. That is as near common as issues get in survey analysis. The opposite points simply don’t see the identical stage of concern,” researchers famous.

“That is, in most respects, a mirrored image of the particular economic system. Although the speed of inflation has decreased considerably, costs are nonetheless excessive. Different considerations like rates of interest and unemployment are much less prone to be areas of concern, and public attitudes mirror that.”

No matter elements corresponding to race, church attendance, gender, or household standing, inflation was discovered to be a “common concern” with simply two exceptions.

Households with incomes over $100,000 had been discovered to be least apprehensive, and Republicans had been discovered to be extra probably than Democrats to fret about inflation. Some 68% of Republicans stated they’re very apprehensive about inflation in comparison with simply 41% of Democrats.

“It’s not that inflation is by some means concentrating on Republicans; they’re simply extra motivated to provide this response. And it’s clear that the GOP was responding to this within the election by harping on inflation at a document tempo,” researchers stated.

“The Wesleyan Media Mission reported that inflation was among the many most talked about points: ‘[Trump] has talked about the economic system, inflation, and fuel costs in practically all of his 40,000 advert airings (as of early September).’ That was a far increased fee than he mentioned immigration, as a degree of comparability.”