Research

2025 Economy Survey

June 26, 2025

In late May through early June, Galvanize Action conducted a survey of 599 ideologically-moderate white women in order to understand how they feel about current economic concerns such as tariffs, inflation, and discussion about federal budget cuts. This survey also solicited reactions to statements about the economy made by President Donald Trump.

QUESTION #1 | CURRENT FINANCIAL SITUATION
Which of the following best describes your current financial situation?

I can’t cover basic expenses and am in a financial crisis	9%
I’m falling behind or relying on credit	13%
I can cover basic expenses, but can’t save	37%
I’m living comfortably and saving a little	30%
I’m financially secure, saving easily, and can afford extras	11%

While 78% of moderate white women were able to cover their basic expenses, 22% reported being unable to make ends meet.

QUESTION #2 | FEELINGS ABOUT CURRENT FINANCIAL SITUATION
Which of the following words best describe how you feel about your current economic situation? Please select all that apply.

Worried	57%
Concerned	48%
Uncomfortable	37%
Overwhelmed	35%
Frustrated	34%
Skeptical	30%
Optimistic	22%
Conflicted	22%
Hopeful	21%
Angry	20%
Confused	15%
Supportive	7%
Proud	6%
Indifferent	5%
Compassionate	4%

A majority (57%) of moderate white women reported feeling worried about the economy, with concerned (48%) and uncomfortable (37%) being the next-most-selected feelings.

QUESTION #3 | BIGGEST SOURCE OF FINANCIAL STRESS
Over the past month, which of the following has been the BIGGEST source of financial stress for you, personally?

Price increases	51%
Your income level	15%
Housing costs	11%
Medical expenses	9%
Costs associated with caring for a dependent	5%
Credit cards	5%
Student loans	4%

A majority (51%) of moderate white women report that price increases have been the biggest source of financial stress for them.

QUESTION #4 | EMOTIONAL RESPONSES TO TRUMP INTERVIEW CLIPS
Which of the following words best describe how you feel about the following video? Please select all that apply.

Video Transcripts

Tariff Pain
Trump: “We may have, short-term, a little pain, and people understand that. But long-term, the United States has been ripped off by virtually every country in the world. We have deficits with almost every country. Not every country, but almost. And we’re gonna change it; it’s been unfair.”

Dolls
Trump: “Maybe the children will have two dolls instead of thirty dolls, and maybe the two dolls will cost a couple of bucks more than they would normally.”

The Good Parts Are Mine
Interviewer: “When does it become the Trump economy?” Trump: “It partially is right now. And I really mean this, I think the good parts are the Trump economy, and the bad parts are the Biden economy.”

	Video
Response	*Tariff Pain*	*Dolls*	*The Good Parts Are Mine*
Optimistic	22%	10%	11%
Angry	29%	38%	36%
Proud	7%	6%	8%
Skeptical	43%	26%	29%
Worried	38%	34%	23%
Compassionate	3%	3%	4%
Confused	13%	13%	11%
Conflicted	20%	17%	13%
Uncomfortable	23%	25%	22%
Overwhelmed	13%	14%	10%
Supportive	15%	13%	18%
Indifferent	4%	8%	8%
Concerned	35%	35%	26%
Hopeful	16%	12%	11%
Frustrated	30%	35%	33%

Moderate women reported feeling skeptical (43%), worried (38%), and concerned (35%) about the Tariff Pain clip.
Moderate women reported feeling angry (38%), concerned (35%), and frustrated (35%) about the Dolls clip.
Moderate women reported feeling angry (36%), frustrated (33%), and skeptical (29%) about the The Good Parts are Mine clip.

QUESTION #5 | ALTERNATIVE MESSAGING
Galvanize Action created three educational messages that address the same economic themes as the three Donald Trump quotes included above, as well as one additional message intentionally imbued with an authoritarian tone to gauge its appeal among moderate white women. The text of those messages is below.

Message #1 / “Tariff Pain” Alternative:
Donald Trump says he wants to stand up to China — but the people who end up paying the price for his tariffs are American families. Tariffs are essentially a tax on consumers. When they go up, so do the prices of everyday goods: clothes, appliances, toys, even groceries. And when that happens, it’s not billionaires who feel the pinch, it’s working people.
There’s a better way to support American workers. We need smart trade policies that actually bring jobs home, invest in innovation, and protect our supply chains — without punishing families in the checkout line. Leadership means solving problems without making people’s lives harder just to score political points.

Message #2 / “Dolls” Alternative:
Of course we should support American manufacturing. That’s part of building a strong economy. But telling parents to just buy fewer toys for their kids? That’s not a real solution. Working families deserve policies that make life more affordable, not more stressful. We need leadership that meets this moment with practical, forward-thinking ideas — the kind that strengthen our economy and make it easier for families to thrive.

Message #3 / “The Good Parts Are Mine” Alternative:
Look, I get it. People are working hard and still feel like they’re falling behind. Prices have gone up, housing is tough, and it’s harder than it should be to feel financially secure. But the truth is, there’s no magic wand, and going back to chaos and self-serving politics won’t fix it.
What we need is steady leadership that actually invests in working people, not just talks about it. That means lowering healthcare costs, protecting Social Security, and making corporations pay their fair share so families aren’t carrying the whole burden.
We’re making real progress: job growth, manufacturing coming back, clean energy jobs. But we’ve got to build on that, not burn it all down. The future should be about all of us getting ahead… not just the loudest guy in the room taking credit.

Authoritarian Message:
The time for weakness is over. The nation stands at the brink – not because of enemies abroad, but because of traitors within. For too long, chaos has reigned in the name of ‘freedom.’ But we know the truth: freedom without order is ruin. Only through strength, unity, and unwavering loyalty can we restore greatness.
There is no room for dissent in the face of survival. Those who speak against the state speak against the people. We will not allow lies to divide us. We will cleanse the institutions of corruption, silence the agents of disorder, and return honor to our flag. One voice, one nation, one destiny. Stand with us… or stand aside.

If a public leader said the following, how likely would you be to support them or want to hear more from them?

	Not at all likely	Slightly likely	Very likely	Extremely likely
Message #1 / Tariff Pain Alternative	16%	28%	35%	21%
Message #2 / Dolls Alternative	12%	26%	33%	28%
Message #3 / The Good Parts Are Mine Alternative	9%	26%	40%	26%
Message #4 / Authoritarian Message	30%	29%	26%	16%

Moderate white women were most likely to want to hear more from a public leader making statement #3, with 92% saying they were at least slightly likely to want to know more.
Moderate white women were least likely to want to hear more from a public leader making statement #4, with 30% saying “not at all likely.”

QUESTION #6 | RESPONSIBILITY FOR STATE OF ECONOMY
Many people are frustrated with the current state of the U.S. economy. How much responsibility do you think each of the following deserves for the state of the economy? Please indicate the level of responsibility you believe each holds.

	Not at all responsible	Slightly responsible	Mostly responsible	Completely responsible
Tech companies automating jobs	13%	53%	23%	11%
Lobbying and influence of big money in politics	5%	29%	37%	29%
The current presidential administration	17%	27%	20%	36%
Decline in work ethic or personal responsibility	17%	43%	26%	13%
Federal government spending	6%	26%	41%	27%
Dependence on foreign manufacturing	14%	47%	29%	10%
Immigrants impacting American job opportunities	35%	33%	21%	11%
Large corporations prioritizing profits over workers	6%	21%	41%	33%
Companies outsourcing jobs overseas	10%	43%	31%	16%
People who rely too much on government support	25%	39%	23%	13%
The previous presidential administration	22%	34%	23%	20%
Rising cost of living compared to wages	6%	22%	39%	34%
Tax policies that benefit the wealthy	9%	22%	32%	37%
Wall Street and the financial sector	12%	46%	30%	12%

Respondents felt that large corporations prioritizing profits over workers were most responsible for the current state of the economy, with 74% saying those corporations are completely or mostly responsible.
The next most “responsible” factors were the rising cost of living compared to wages (73%), tax policies that benefit the wealthy (69%), federal government spending (68%), lobbying and influence of big money in politics (66%), and the current presidential administration (56%). Other responses were all below 50%.

QUESTION #7 | OPINIONS ON THE ECONOMY
To what extent do you agree or disagree with the following statements?

	Strongly disagree	Somewhat disagree	Somewhat agree	Strongly agree
Tariffs are harmful to the economy and to consumers	5%	21%	34%	41%
The country should accept short-term economic hardship if it leads to long-term economic stability and growth	9%	30%	47%	14%
I am willing to accept short-term price increases if it results in a stronger economy in the future	9%	24%	50%	17%
Short-term government interventions, such as price controls or additional taxes on corporations, are worth it if they help lower costs in the long run	6%	19%	53%	22%

A majority of moderate white women agree with each of these statements.
Agreement was highest (75% each) for the statements “Tariffs are harmful to the economy and to consumers.” and “Short-term government interventions, such as price controls or additional taxes on corporations, are worth it if they help lower costs in the long run.”

QUESTION #8 | WILLINGNESS TO ENDURE FINANCIAL PAIN
Would you be willing to endure short-term economic pain (higher prices, job instability, etc.) if you believed it would lead to any of the following? Please select all that apply.

Lower healthcare costs	57%
Greater income equality	47%
A fairer tax system	44%
Increased American manufacturing	36%
Reduced reliance on foreign countries	32%
I would not be willing to endure economic hardship for any of these outcomes	25%

A majority (57%) of women in this survey would be willing to endure short-term economic pain if they believed it would lead to lower healthcare costs.
A quarter of respondents would not be willing to endure economic hardship for any of the above.

QUESTION #9 | POTENTIAL RESOURCES
How helpful would each of the following resources be for you and your household as you navigate the current economy?

	Not at all helpful	Slightly helpful	Very helpful	Extremely helpful
How to apply for government aid resources	27%	30%	28%	15%
Tips for budgeting on a fixed income	24%	37%	28%	12%
Information on how to talk with kids or family members about money stress	35%	31%	25%	8%
Mental health resources related to financial anxiety	24%	34%	29%	13%
Real-life stories from others navigating economic hardship	32%	38%	21%	8%
Short videos with economic guidance	32%	41%	20%	8%
Text messages with tips or reminders about personal finance	46%	31%	15%	7%
Tips for managing credit card debt and your budget	32%	35%	22%	11%
Tools to understand how government policies affect your finances	16%	39%	35%	10%

Respondents say the most helpful resources on this list would be tools to understand how government policies affect their finances (45% say this is very or extremely helpful), information about how to apply for government aid resources, (43%), mental health resources related to financial anxiety (42%), tips for budgeting on a fixed income (40%), and tips for managing credit card debt and their budget (33%).