Economic Woes in Purple States Could Impact Election Outcome

The latest Freedom Economy Index survey results paint a grim picture of the American economic landscape, with potential implications for the November election. The survey, conducted by RedBalloon and PublicSquare, indicates that 70.5% of respondents consider their financial situation to be "worse" or "much worse" than a year ago, with purple "swing" states reporting even more severe economic strain.

Andrew Crapuchettes, CEO of RedBalloon, stated, "The latest Freedom Economy survey numbers look like most Americans have been in a personal recession for the past year." This sentiment is particularly pronounced in politically crucial swing states, where respondents are 7 percentage points more likely to report being "much worse off" compared to those in red states.

The survey's findings reveal a range of economic challenges facing Americans. Notably, 44% of respondents report insufficient income to cover daily expenses, with this figure being 6 points higher in blue states compared to red states. Baby Boomers appear to be losing financial ground at the fastest rate among demographic groups.

Rising costs of living are a significant concern, with 93% of respondents noting increased food prices in the last 30 days, 74% reporting higher gas prices, and 69% experiencing increased utility rates. The job market also appears to be tightening, with 63% of respondents stating that finding employment is much harder now than six months ago. Alarmingly, 4 in 10 job seekers report being unemployed for over a year.

The survey also sheds light on the mismatch between education and employment, revealing that less than half of employees with a college degree are working in fields related to their studies. Additionally, the survey touches on workplace culture issues, with a majority of job seekers avoiding companies that emphasize DEI (Diversity, Equity, and Inclusion) policies, and 74.7% of employees reporting that DEI has caused division in the workplace.

Michael Seifert, CEO of PublicSquare, emphasized the potential political impact of these economic trends: "Elections are won or lost on the economy. Asking the question 'are you better off than 4 years ago' is pretty standard in American politics. Based on our results, this doesn't bode well for the incumbent party."

The survey, now in its second year, sampled over 100,000 active employees and job seekers from RedBalloon's national database. With 765 respondents, the survey has a 4% margin of error at a 95% confidence level.

As the election approaches, these economic indicators could play a crucial role in shaping voter sentiment. The widespread financial distress, particularly in swing states, may become a central issue in campaign narratives and voter decision-making processes.

The Freedom Economy Index provides valuable insights into the economic realities facing American voters, offering a snapshot of financial well-being that could significantly influence the political landscape in the coming months.