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During the previous presidential campaign, the former president courted voters with pledges to lower costs immediately upon taking office. But, once his inauguration, he seemed to pay precious little focus to affordability issues. This shifted after price-fatigued citizens delivered a rebuke at the polls. Within days, the Trump administration initiated a hastily assembled effort to address affordability. Unfortunately, this initiative has proven a hot mess—filled with absurdity, inconsistencies, unrealistic expectations, scapegoating, and misleading statements.

Detached Assertions and Grocery Store Truth

Merely 48 hours after the election, the president kicked off his affordability drive with a disastrous remark: “Food prices are way down. All items is way down… So I don’t want to hear about the cost of living.” This comment from the wealthy leader—often associates with other ultra-rich individuals—revealed utter contempt for everyday citizens who struggle when visiting supermarkets. Essentially, he dismissed their struggles as trivial, suggesting they were mistaken about price levels.

His assertion about declining prices proved highly misleading and inaccurate. How could every price be falling when his cherished tariffs were pushing up costs? Recent data indicate the cost of bananas rose 6.9% over the past year, the price of beef went up 14.7%, and the cost of coffee surged by nearly 19%—partly due to import taxes applied to Brazilian products. In the first three quarters, prices rose in the majority of main grocery groups tracked by the government’s price index, including animal proteins (up 4.5%), non-alcoholic beverages (increasing nearly 3%), and fruits and vegetables (rising slightly).

Inconsistencies and Falsehoods in Economic Statements

In spite of the evidence, the president continues to push his misleading narrative about lower costs. After the vote, he has stated there is “almost no price increases,” declared “prices are way down,” and asserted “living is cheaper under Trump than it was under sleepy Joe Biden.” Such remarks ignore the fact that general costs have unarguably risen since Biden left office. At present, price growth is running at a 3% annual rate, which is 50% higher than the central bank’s 2% goal. In another falsehood, he boasted that gas prices had dropped to nearly $2 a gallon, even though government figures show they average $3.19.

Confronted by reality and declining opinion polls, some Trump aides apparently cautioned that his “prices are down” rhetoric portrayed him as dangerously out of touch from ordinary people. A lot of citizens are frustrated about prices continuing to climb after assurances of reductions. In response, aides suggested a simple solution: reduce certain import taxes. This sensible idea contradicted Trump’s absurd assertion that additional taxes wouldn’t raise prices for American shoppers.

Suggested Solutions and Their Potential Impact

With some tariffs reduced on several food items, the administration will likely claim that he has lowered costs once those foods start declining in price. This would be like an arsonist taking credit for putting out a blaze that he had started. On another occasion, while speaking McDonald’s executives, Trump stated that “this is the golden age of America” and told the audience that “costs are decreasing and all of that stuff.” These comments are easy for a wealthy individual to make, but they ring hollow to millions of Americans facing hardships—especially when many risk cuts to nutrition assistance or rising insurance costs.

Per a recent poll from October, three-quarters of respondents believe the state of the economy are mediocre or bad, while only 26% consider them good or excellent. Another poll found that 61% of Americans feel Trump’s policies have “made the economy worse” in the country.

Economic Reality and Suggested Measures

The treasury secretary, the president’s top economic official, lately disputed claims of a prosperous era. He stated that instead of thriving, some parts of the American economy “are in recession.” Industrial production—a priority for the administration—seems to have shrunk for multiple consecutive months and lost around 33,000 jobs this year. Citing this weakness, Bessent called on the Federal Reserve to cut interest rates—a move that could help affordability.

In response to widespread concern about living costs, the president suggested a cash handout of “a dividend of at least $2,000 a person” not for “the wealthy.” To numerous households in need, it seems like manna from heaven, but the prospects are dim that lawmakers—concerned about huge budget deficits—will enact the proposal. The scheme could raise government expenditure, push up interest rates, and possibly drive prices higher by injecting cash into the economy.

Another proposed solution for affordability centered on creating 50-year mortgages, with the notion that they could lower housing costs. However, the truth is that 50-year mortgages would do little to lower monthly payments—often reducing them by just $100 or $200 per month. The drawback is that these loans could significantly increase the total interest homeowners pay and slow their accumulation of equity.

Faulting the Previous Administration and Financial Outlook

In their cost-cutting effort, Trump and his team have once more pointed fingers at the previous president for economic problems, including rising prices. Spokespeople stated they “inherited a disaster from Joe Biden” and were “cleaning up Biden’s inflation.” These are absurd and inaccurate claims. In reality, the former president handed over a strong economy, with low price growth, economic growth strong, and minimal joblessness. However, the current administration’s actions—especially his tariffs—have resulted in an difficult situation, pushing up prices and slowing GDP growth.

Per an economist, chief economist at a research firm, numerous regions are already in recession, with their economies damaged by the administration’s trade policies. He worries that if key regions like California and New York enter a downturn, the nation could slide into a broad economic slump. In downturns, consumers generally possess less money to spend, and inflation often falls. Unfortunately, given the highly-touted cost initiative likely to do little to control costs, his primary method for improving living standards might end up triggering an economic contraction—something that hard-pressed households really can’t afford.