Podcast Summary: The Daily

Episode Title: Trump 2.0: The President’s Affordability Problem
Date: January 30, 2026
Host: Natalie Kitroeff (with interviews and analysis by Nate Cohn, Chief Political Analyst, NYT)
Guests: Voters Marcus Vila and Kelsey
Producers: Olivia Natt and Stella Tan

Episode Overview

This episode delves into the economic anxieties facing Americans one year into Donald Trump’s second term as president. Despite campaign promises to improve affordability and restore economic stability, many of the voters who propelled him to victory in 2024 now feel disappointed and frustrated. NYT’s Nate Cohn explains new polling data that reveals a dramatic reversal in Trump’s political fortunes, especially among the key demographics that swung the 2024 election, and what that means for both parties going forward.

Key Discussion Points & Insights

1. 2024 Election Context & Changing Coalitions

• Trump’s 2024 victory was achieved with support from atypical Republican demographics: young people, nonwhite voters, lower-income, less engaged, and infrequent voters (04:48).
• As Nate Cohn explains, “Trump made enormous gains in 2024 among young, non white, less educated, lower income voters. Voters who traditionally had voted for Democrats and who Democrats had often taken for granted.” (04:48)

2. Polling One Year In: A Dramatic Turnaround

• Trump’s approval rating has plummeted from above 50% to 40% (05:13).
• Much of the coalition that supported him in 2024 has “mostly reversed,” with young, nonwhite, and lower-income voters retreating from him (05:13).
• “In almost every respect, it looks like a poll that you could have done during Trump’s first term,” Cohn observes (05:55).

3. Central Role of the Economy & Affordability

• The top concern for voters in 2024—and their main cause of disillusionment now—remains the economy and affordability (06:43).
• Of those defecting from Trump, 44% cite economic issues, nearly double the rate of other voters (08:00).
• “He was elected to make things more affordable. They think it’s less affordable,” notes Cohn (08:57).

4. What ‘Affordability’ Means to Voters

• Poll data reveals most Americans worry about big-ticket, middle-class essentials: healthcare, housing, education, and raising children (11:17).
• Regular expenses like food and utilities are top concerns primarily for lower-income Americans, but for the middle class the anxiety centers on achieving “life goals” (11:30).
• “Only about a fifth of people said that [monthly expenses] was what they worried most about affording.” (11:17)

5. Generational Divide & Middle-Class Aspiration Gap

• Young people are especially anxious: Only 24% of 18–29-year-olds feel they can afford the life they expect, versus 63% of those over 65 (19:01).
• “It’s a really big difference.… And I think it’s pretty easy to explain why—young people are much more anxious about this. They haven’t yet bought that middle class life.” (19:03)
• Many see a middle-class lifestyle (homeownership, family, retirement saving) as increasingly out of reach (17:09, 17:50).

6. Political Implications: Neither Side Inspires Confidence

• Democratic gains are likely in midterms as dissatisfaction with Trump grows, but Democrats lack credibility on affordability too (23:08).
• “They don’t enter with much credibility on affordability either,” says Cohn. “It’s not obvious to me that they are teed up to fare exceptionally well...” (23:44)
• More people still identify as Republicans than Democrats, and many still blame Joe Biden for persistent woes (23:58).
• Despite Trump’s low ratings on affordability, perceptions of the economy are improving compared to the 2022 nadir: “The proportion of voters who say the economy is good or excellent has gone up seven points since the election.” (25:39)

7. Voter Disillusionment and Political Volatility

• Many swing voters are now “up for grabs,” dissatisfied with both parties (28:54).
• Deep, systemic problems persist (affordability, stagnant prospects), fueling a cycle of instability and the appeal of outsider or “change” candidates on both left and right (30:15).

Notable Quotes & Memorable Moments

• On expectations and disappointment:
  Kelsey: “I felt confident that he was going to come and help us. But now that we’re just one year into it, I feel bamboozled. I feel like I was stupid to vote for him.” (02:02)
• On cost of living reality:
  Marcus Vila: “Drowning. I can barely afford to survive, and I’m making a lot of money.” (16:18)
  “If I’m receiving promotions and getting a better paycheck, I should be feeling like I’m succeeding. I drive a 2001 Ford Focus. I shouldn’t be driving a car from 2001.” (17:09)
• On generational anxiety:
  Nate Cohn: “Only 24% of our 18 to 29-year-old respondents said they thought they could afford the life…. compared to 63% of people over age 65.” (19:01)
  Natalie Kitroeff: “You sort of said this, but what you’re seeing is that people are having a really hard time feeling like they can’t achieve what they expected they would be able to achieve.” (19:41)
• On the affordability problem itself:
  Cohn: “A majority say that his policies have made life less affordable. So he was elected to make things more affordable. They think it’s less affordable.” (08:57)

Important Timestamps

• 00:42–01:25: Voters share their immediate economic concerns and expectations heading into Trump’s second term.
• 04:03–04:48: Discussion of Trump’s uniquely broad 2024 coalition.
• 05:13–05:56: Poll results show a dramatic reversal of fortune for Trump, especially among key swing groups.
• 06:43–08:41: In-depth poll data on voter disapproval of Trump’s handling of economic issues and the central role of affordability.
• 11:17–13:44: Breakdown of what Americans mean by “affordability” in poll responses.
• 16:04–17:50: Interviews with voters about their financial realities.
• 19:01–19:41: Generational differences in economic outlook and struggle to achieve middle-class life.
• 23:08–25:39: Political implications for Democrats and Republicans; neither party commands strong trust on affordability.
• 26:28–30:15: Exploration of why widespread dissatisfaction persists, leading to political instability and “change” candidates.

Tone & Language

The episode blends the analytical rigor of pollster Nate Cohn with raw, first-person accounts from frustrated voters. The tone is clear-eyed and often somber, reflecting the seriousness of the affordability crisis and the mounting skepticism of both major parties. As Natalie Kitroeff remarks, both sides seem unable to offer a “compelling case” for solving these deep, structural issues (26:32). Cohn suggests America may remain locked in cycles of “change” elections so long as fundamental economic anxieties remain unaddressed (30:15).

Conclusion

One year into Trump’s second term, affordability has not improved for many Americans—and for a majority, it’s worsened. The voters who turned to Trump for relief now feel let down, fueling a renewed political volatility and deep distrust in both parties. The episode ends with Nate Cohn observing that, “as long as these deep, simmering problems continue to exist in American society, we’re going to keep having voters looking for something very different from what they’ve had before.” (30:15)

Listen to this episode for a deeply reported, personal look at why economic frustration is reshaping the American political landscape, and how promises of renewed prosperity are running into the realities of cost-of-living and lost faith in traditional politics.