A top pollster is warning that Republicans may face a wipeout in the midterms if voter concerns over affordability are not addressed. Scott Rasmussen, founder and president of RMG Research and the founder of Rasmussen Reports, warned Wednesday morning that the GOP could lose not only the House of Representatives but also the Senate due to discontent over the party’s handling of inflation and the economy.

“If the numbers that we’re seeing today were the same in November, the Democrats would not only win the House, they would almost certainly win control of the Senate,” Rasmussen cautioned, urging Republicans to act fast because “the window is rapidly closing” for an opportunity to change voters’ minds. “Now, any improvement from this baseline begins to give the Republicans a better chance of holding the Senate, but right now they’re starting in a pretty deep hole, and it’s going to take a while to dig out of it.”

According to Rasmussen, only 24% of voters reported that their personal finances are improving, while 39% reported that their personal finances are worsening. He observed that voters immediately began to show improvement in polling regarding the economy after President Donald Trump was elected in 2024, but that the numbers have shifted sharply in recent weeks. The current statistics are “the worst numbers we have seen since Trump was elected,” Rasmussen said. “Obviously, part of this is tied to the situation in Iran and the increase in gas prices. The reality is, most Americans live paycheck to paycheck. When the price of gas goes up, they have less money for groceries, less money for entertainment. They feel the pinch right away.”

“Here’s the kicker. When bad news comes in, people’s confidence falls almost immediately. When good news returns, it takes a while,” the veteran pollster noted. “For example, if the fighting ended tomorrow and if the price of gas went back to where it was just before the fighting began, it would take about six months, normally, before the American people begin to get their confidence back to where it had been,” Rasmussen continued. “Six months from now is mid-September, right on the eve of the midterms. What this means is the window is rapidly closing. The Republicans need people to start feeling better about their finances quickly. They need to get a situation stabilized and begin moving the trend in that direction quickly, or else it’s going to be a really ugly election night.”

CNN analyst Harry Enten reached a similar conclusion in a Thursday broadcast, reporting that Trump is currently 41 points underwater on cost of living issues. Among Independent voters, Trump is 60 points underwater. “I would say that this is the most troublesome sign that I have seen for the president of the United States and the Republican Party so far,” Enten warned. “This, my dear friends, is just a political nightmare waiting to happen for the Republican Party come the midterm election,” he continued. “Simply put, I am saying this loud and proud: You cannot win an election when you are the incumbent party and the top issue is the cost of living — and your net approval rating on it is 41 points underwater!”

The CNN statistics guru added, “You cannot win. If you’re the president and you’re the Republican Party and you’re not addressing this issue, wave adios, amigos, goodbye, see you later to your House majority and may very well be your Senate majority as well.”

In comments to The Washington Stand, FRC Action Director Matt Carpenter said, “With the midterm elections less than eight months away, voters are still telling pollsters they view affordability as a top concern.” He observed, “The affordability issue was also a top concern for voters during the 2024 election and a big reason why President Trump won the biggest victory for a Republican presidential candidate in decades and was also rewarded with unified Republican control of Congress.”

“Republicans should be focused on addressing voters’ concerns about the cost of things like groceries, housing, healthcare, etc.,” Carpenter emphasized. “They should not take it lightly that after a year of full Republican control of Washington, D.C. that voters still express concern about the cost of living.”