Americans are united.
For the first time in a decade, both major political parties in the U.S. have identified the rising cost of living as one of the most pressing issues facing American families, according to the latest American Family Survey. This nationwide study, which has been conducted annually since 2015, shows a significant shift in concerns between 2023 and 2024. Previously, issues related to family structure, such as parental discipline and guidance, were dominant. However, economic concerns have now surpassed these issues, with over 71% of respondents in 2024 citing economic worries.
The survey revealed that economic stress has grown consistently over the past decade, with parents particularly concerned about the costs of raising a family, high work demands, and the overall stress on parents. In contrast, concerns about family structure, while still significant, have slightly declined in comparison. This shift is reflective of broader public sentiment about the economy, which is also mirrored in exit poll results from the 2024 presidential election, where a majority of voters expressed dissatisfaction with the state of the economy.
Among economic issues, inflation emerged as the top concern, with 55% of Americans expressing high levels of worry about rising prices. Other concerns included rising taxes (43%), interest rates (35%), and national debt (33%). Despite a decrease in inflation rates, prices remain high, leading to sustained public anxiety. The survey noted that these economic concerns were nearly universal, with 88% of respondents indicating at least some level of worry about these issues.
The survey also highlighted that while inflation is a major concern across the board, it is especially pronounced among Republicans, with 68% of them expressing significant concern about inflation, compared to 41% of Democrats. This difference likely reflects the way inflation has been emphasized in political rhetoric, particularly during Donald Trump’s campaign, where he frequently addressed the issue in advertisements. The study suggests that concerns about inflation and the economy in general are central to current political debates, shaping voter behavior and priorities.
Overall, the findings underscore the increasing importance of economic issues for American families, with a particular focus on inflation, rising costs, and economic instability. As these issues continue to dominate public discourse, both political parties will likely need to address the economic anxieties of voters to maintain support, especially as families feel the impact of financial stress on their daily lives.
