President Donald Trump walks to the residence after bidding farewell to Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia after a dinner in the Prince’s honor, Tuesday, November 18, 2025, at the South Portico of the White House.

Axios reporter Mike Allen sounds a "big red alert" for the Republican party, saying that they "aren't only losing elections, they're consistently losing support on prices [and] the economy," and that their "issues run deeper than many in MAGA realized."

Allen and Jim VandeHei write that "everywhere Republicans look, they see big political trouble," noting that they "got cooked" in the top November election races and see "rising internal MAGA drama and division."

Recent polling data from November indicates that President Donald Trump's approval ratings have experienced a significant decline, with multiple surveys reporting a second-term low. His net approval rating is currently negative across most major polls and the party is taking note.

"They increasingly see it in private and public polls showing President Trump's persistently plummeting popularity on key issues," the authors write.

"Republicans aren't only losing elections, they're consistently losing support on prices and the economy, in all polls, big or small, Republican or Democrat, over a several-month period. You can't spin yourself out of reality," they say.

"People are depressed," a Trump loyalist told them.

Five new polls that came out this week "show Republicans' problems might be even deeper and more worrisome than many fear," they write.

In a Fox News poll released Wednesday night, "voters said the White House is doing more harm than good on the economy: 46 percent said they've been hurt by the administration's economic policies, 15 percent say they've been helped and 39 percent said Trump has made no difference."

Edelman shows that "Americans are deeply fearful and distrustful of the Trump administration's top domestic fixation: accelerating AI."

"In Wisconsin, the swingiest of swing states, a new Marquette Law School Poll shows Democrats are more motivated and more popular heading into the 2026 elections," they write.

"Voters are flunking Trump on the economy and inflation. These numbers are brutal: 36 percent approve of the Trump economy, and 28 percent approve of his handling of inflation and the cost of living. Looking to the future, 60 percent think Trump will drive prices even higher. Just 27 percent believe he'll lower them," they explain.

A Marist Poll found Democrats have a 14-point lead over Republicans on the midterm generic ballot, and Fox Business featured a Reuters/Ipsos poll showing Trump's approval rating falling to 38 percent — "the poll's lowest since his return to power, weighed down by his handling of the cost of living, and by the Epstein fracas," they write.

The authors say that while Trump knows he needs to "shift this perception dramatically," the optics aren't in his favor.

"Big, lavish black-tie dinners with the Saudis or gold-plated White House renovations make it harder to convince voters Trump is on the case," they say.

There are also signs, they write, of Republicans' "rock-solid unity starting to fracture," pointing to the "House revolt on the Epstein files," the Senate's "refusal to yield to Trump's demand to scrap the filibuster" and roadblocks to Trump's redistricting pushes.

"If the economy goes south — or perceptions of it remain in the cellar — Trump will have the same problem President Biden did: telling people their feelings and perceptions are wrong," they add.

And things don't look too promising for Trump and his MAGA Republicans right now.

"The chances of a fast, decisive economic surge aren't high. Most forecasts project modest growth and continued pricing pressure for many household goods. Toss in Al and its possibility to gut new white-collar jobs, and you can clearly see the GOP risk — and angst," they write.