It's Sunday, May 3rd, and a new poll released overnight has a lot of troubling results for Donald Trump and Republicans.

This poll from Washington Post, ABC News, and Ipsos shows that support for Donald Trump isn't dropping, it's cratering,

driven largely by deep disapproval ratings

over his handling of his top issues. I'm going to get to the poll details in a minute.

You're going to want to see this. But first, let's talk about the reasons behind the fall in support,

and let's start with the Strait of Hormuz. Its effective closure has caused a huge oil shock

and supply chain issues globally that is affecting

people's pocketbooks worldwide. Today, the average cost of a gallon of regular gasoline in the

United States is $4.45. That's up again by a couple of cents from yesterday. Gas prices, by the way,

are not at record highs, but the rate at which they are rising is unprecedented. The Wall Street Journal

estimates that Americans spent $125 million more on gas this past Friday, May 1st, than it did

the previous Friday, April 24th, when the average price of gas was about $4.6 a gallon, right? So two comparative weeks,

$125 million more. The World Bank is also forecasting that a commodity prices will increase

by 16% this year, driven by the rising cost of transportation and the shortage of fertilizer.

A lot of fertilizer goes through the Strait of Hormuz. And at a congressional hearing last week, the California congressman Ro Khanna said that he had done

the math on what the war would cost Americans.

He came up with an extra $5,000 a year spent on food and gas per household.

That's not the military cost of the war. A Pentagon official told Congress

last week that the government has already spent $25 billion in your money, taxpayer money,

in just the first two months of the war. That's munitions, by the way. That's the expendables.

There's a lot of other costs that haven't been calculated into that. Bottom line,

prices are going to continue to go up or at least maintain their elevated levels for the near future.

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