The economy was one of the biggest talking points in Donald Trump's return to the White House. But days before the midterm elections, it is threatening to cost Republicans control of Congress.

NBC News’ final poll, presented on Sunday’s ‘Meet the Press,’ put the president’s approval rating at 40%. Some 73% of respondents expressed dissatisfaction with affordability. More strikingly, 51% were dissatisfied with their own finances, the first majority recorded on that question in more than three decades of NBC polling.

Steve Kornacki, the network’s political analyst, contrasted those findings with 2018, when nearly 70% of voters were satisfied with the economy before Trump’s first midterms. Economic confidence once protected Republicans against dissatisfaction with the president. This time, household budgets appear to be reinforcing it.

Democrats have also narrowed Republicans’ former advantage on inflation, holding a one-point lead in the poll. But discontent has not translated into much affection for the opposition, as just 29% viewed Democrats favorably. This leaves the party approaching Election Day with an opening, but little evidence that voters are enthusiastic about the alternative it offers to Republican rule.

The danger Republicans face Tuesday is that voters increasingly associate the party with rising monthly costs. A record of winning arguments about economic management offers precious little protection so long as households remain unhappy with their finances. The party must now defend its performance in office…

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Losing either chamber substantially narrows Trump’s flexibility to govern. A Democratic House will almost certainly obstruct spending priorities and legislation while subjecting the administration to investigations. Losing the Senate could also complicate judicial and executive appointments. The election therefore concerns both the president’s standing and his ability to carry out the rest of his agenda.

While it’s a rough spot for Republicans, Democrats' poor favorability complicates any foregone conclusion of a decisive Republican defeat. Voters can dislike the administration without trusting its opponents to deliver better results. Such a conundrum has both sides trying to persuade dissatisfied households that a vote for them will somehow improve their daily lives.

While the poll suggests Republicans have lost much of their economic cushion, Democrats have yet to offer a convincing alternative.

Voters can remove a congressional majority more easily than they can reverse a rise in living costs. Even if inflation slows, the higher prices already absorbed into rent, groceries, and insurance will linger. Relief requires paychecks catching up, something neither party can deliver by changing the committee chairs.

It’s an important dynamic to remember when weighing the promises that follow this election. Sure, tax relief can leave households with more to spend, but that does little to make scarce housing more available. Spending cuts may improve the government’s accounts while squeezing families that depend on federal benefits. Each remedy has a constituency; each has a bill.

The danger is that an election fought over affordability produces another round of subsidies and tax breaks without addressing what makes essentials expensive. For voters, the question is whether Washington can actually make their money go further once campaigning ends.