Why Republicans are losing voters on the economy

Oct 09, 2026

High gas and oil prices, rising borrowing costs, and the Iran war are turning voters against Trump, and the pain is showing up in evictions and people living in their cars.

  • Oil sits above $100 and one top crude trader won't rule out $200 a barrel, pushing the cost of everything up.
  • Government bond yields could hit 6% for the first time since 2000, making loans and mortgages more expensive.
  • Polls in Ohio and Iowa show cost of living is the top issue, and about three in four voters say Trump's policies made costs worse.
  • Young men who backed Trump in 2024 now favor Democrats by a wide margin in the midterms, and the White House is sending JD Vance to win them back.
  • Energy prices have doubled since the start of the year while the Iran war drains money, with evictions and people living in cars spreading.

Outlook: With the war grinding on and energy costs high, the squeeze on ordinary Americans looks set to keep deepening into the November midterms.

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