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Throughout the previous presidential campaign, Donald Trump wooed voters with promises to reduce prices immediately upon taking office. But, once he assumed office, there was precious little attention to affordability issues. This shifted following inflation-weary citizens delivered a rebuke at the polls. Within days, the Trump administration initiated a hastily assembled campaign to tackle living costs. Regrettably, this initiative is a disorganized endeavor—filled with illogical claims, contradictions, magical thinking, blame-shifting, and Trumpian dishonesty.

Detached Claims and Supermarket Truth

Merely 48 hours after the election, the president kicked off his cost-reduction push with a disastrous remark: “Our groceries are way down. All items is way down… So I don’t want to hear about the cost of living.” These words from the wealthy leader—who frequently associates with fellow billionaires—demonstrated utter contempt for millions of Americans who struggle when visiting the grocery store. In effect, he ignored their concerns as trivial, suggesting they had it wrong about price levels.

This statement about declining prices proved absurdly obtuse and dishonest. In what way could every price be falling when his cherished tariffs were increasing prices? Official statistics show the cost of bananas increased 6.9% over the past year, beef prices climbed almost 15%, and coffee prices jumped by nearly 19%—partly due to import taxes on Brazil’s coffee and beef. Between January and September, costs increased in the majority of main grocery groups monitored by the Consumer Price Index, such as animal proteins (rising over 4%), drinks (up 2.8%), and produce (up 1.3%).

Inconsistencies and Inaccuracies in Financial Claims

Despite these numbers, Trump continues to push his big lie about affordability. After the vote, he has claimed there is “virtually no inflation,” insisted “prices are way down,” and asserted “living is cheaper under Trump than it was under sleepy Joe Biden.” These statements contradict the fact that general costs have clearly increased since Biden left office. Currently, price growth is running at a 3% annual rate, that’s half again as much than the central bank’s 2% goal. In another falsehood, Trump boasted that gas prices had fallen to nearly $2 a gallon, despite government figures show they are $3.19.

Confronted by actual conditions and lower approval ratings, some Trump aides apparently warned that his “costs are falling” rhetoric made him sound disconnected from typical Americans. Many citizens are angry about rising costs following promises of reductions. As a result, advisers suggested one quick fix: reduce certain import taxes. This sensible idea clashed with the president’s unrealistic claim that additional taxes wouldn’t raise prices for American shoppers.

Suggested Fixes and Their Potential Effects

With certain taxes reduced on several food items, the administration will likely announce that he has cut prices once those foods start declining in price. This would be like an arsonist boasting for extinguishing a blaze that he ignited. On another occasion, while speaking McDonald’s executives, Trump stated that “this is the peak period of America” and assured listeners that “prices are coming down and all of that stuff.” Such statements are easy for a billionaire to make, but seem insincere to millions of Americans who are struggling—particularly when millions risk cuts to nutrition assistance or skyrocketing health premiums.

Per a recent poll from October, 74% of Americans think economic conditions are mediocre or bad, while only 26% rate them good or excellent. Another poll showed that 61% of Americans say Trump’s policies have “made the economy worse” in the country.

Financial Reality and Proposed Steps

The treasury secretary, the president’s chief financial officer, recently disputed assertions of a golden age. He stated that instead of thriving, certain sectors of the American economy “are in recession.” The manufacturing sector—a priority for the administration—seems to have shrunk for multiple consecutive months and lost approximately 33,000 jobs since January. Pointing to these challenges, the secretary called on the central bank to cut interest rates—an action that could ease financial pressure.

Reacting to public dismay about affordability, Trump proposed a cash handout of “a dividend of at least $2,000 a person” excluding “the wealthy.” For many struggling Americans, it seems like manna from heaven, but the prospects are dim that lawmakers—concerned about large shortfalls—will enact the proposal. This idea could raise government expenditure, push up interest rates, and potentially fuel inflation by injecting cash into the economy.

Another proposed solution for affordability centered on creating 50-year mortgages, based on the idea that this would lower housing costs. However, the truth is that 50-year mortgages would do little to reduce installments—frequently cutting them by a small amount per month. The drawback is that these loans could significantly increase the total interest borrowers pay and hinder building home value.

Blaming the Previous Administration and Economic Outlook

In their cost-cutting effort, Trump and his team have once more blamed the previous president for financial challenges, including increasing costs. Spokespeople claimed they “faced a mess from Joe Biden” and were “cleaning up the prior administration’s price hikes.” These are absurd and inaccurate allegations. Actually, Biden left a strong economy, with inflation way down, solid expansion, and unemployment low. However, Trump’s policies—especially his tariffs—have resulted in an economic mess, driving costs higher and slowing GDP growth.

Per an economist, chief economist at Moody’s Analytics, numerous regions are experiencing economic decline, with their economies damaged by Trump’s tariffs. He worries that if large states like major economies enter a downturn, the US could face a broad economic slump. In downturns, people generally possess less money to spend, and price increases often falls. Unfortunately, with the highly-touted cost initiative likely to do little to hold down prices, his most effective “tool” for achieving increased affordability might end up pushing the nation into recession—something that hard-pressed households really can’t afford.