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Throughout the previous race for the White House, the former president courted voters with promises to lower prices immediately upon taking office. But, once he assumed office, there was precious little focus to the cost of living. All that changed following inflation-weary voters delivered a rebuke at the ballot box. Within days, the Trump administration launched a slapdash campaign to tackle living costs. Regrettably, this initiative is a disorganized endeavor—filled with absurdity, contradictions, magical thinking, blame-shifting, and Trumpian dishonesty.

Detached Claims and Supermarket Truth

Just two days after the election, Trump kicked off his affordability drive with a poorly received statement: “Food prices are way down. All items is way down… So I don’t want to hear about affordability.” This comment from billionaire Trump—often associates with other ultra-rich individuals—revealed a lack of empathy for everyday citizens who struggle when visiting supermarkets. Essentially, he ignored their struggles as unimportant, implying they were mistaken about price levels.

This statement that everything was “way down” proved highly misleading and dishonest. How could every price be decreasing when his cherished tariffs were pushing up prices? Official statistics indicate the cost of bananas rose 6.9% in the last twelve months, beef prices climbed almost 15%, and coffee prices jumped by nearly 19%—partly due to punitive tariffs on Brazil’s coffee and beef. Between January and September, costs increased in five of the six food categories monitored by the government’s price index, including meats, poultry, and fish (up 4.5%), non-alcoholic beverages (increasing nearly 3%), and fruits and vegetables (up 1.3%).

Inconsistencies and Inaccuracies in Economic Statements

In spite of these numbers, the president continues to push his big lie about lower costs. Since election day, he has stated there is “virtually no inflation,” declared “prices are way down,” and asserted “it is far less expensive under Trump than it was under sleepy Joe Biden.” These statements contradict the fact that prices overall have clearly increased since Biden left office. Currently, price growth is running at a 3% annual rate, which is half again as much than the Federal Reserve’s 2% goal. Adding to the inaccuracies, Trump claimed that gas prices had dropped to around two dollars, despite official data indicate they are over three dollars.

Confronted by actual conditions and declining opinion polls, some Trump aides evidently cautioned that his “prices are down” rhetoric portrayed him as disconnected from typical Americans. Many citizens are frustrated about rising costs after assurances of reductions. In response, aides suggested a simple solution: reduce some of Trump’s beloved tariffs. This sensible idea contradicted Trump’s absurd assertion that additional taxes would not increase costs for US consumers.

Proposed Fixes and Their Possible Impact

With certain taxes being rolled back on several food items, the administration will probably announce that he has lowered costs once those foods begin to fall in price. This would be like an arsonist boasting for putting out a fire that he had started. On another occasion, while speaking McDonald’s executives, Trump stated that “this is the golden age of America” and told listeners that “prices are coming down and all of that stuff.” Such statements are easy for a wealthy individual to make, but they ring hollow to millions of Americans who are struggling—particularly when millions face losing food stamps or rising insurance costs.

According to a survey from October, 74% of Americans think economic conditions are fair or poor, while just a quarter consider them positive. A separate survey found that 61% of Americans say Trump’s policies have “worsened economic conditions” in the country.

Economic Truth and Proposed Steps

Scott Bessent, Trump’s chief financial officer, lately contradicted claims of a golden age. He noted that instead of thriving, certain sectors of the US economy “are in recession.” Industrial production—which Trump vowed to save—seems to have shrunk for multiple consecutive months and shed approximately 33,000 jobs since January. Citing these challenges, the secretary urged the Federal Reserve to cut interest rates—a move that could ease financial pressure.

Reacting to public dismay about living costs, the president proposed a cash handout of “a payout of at least $2,000 a person” not for “high income people.” For many households in need, it seems like manna from heaven, but the prospects are dim that lawmakers—already alarmed about large shortfalls—will approve the proposal. The scheme would likely increase federal spending, increase interest rates, and potentially drive prices higher by putting more money into the economy.

Another proposed solution for affordability centered on introducing half-century home loans, based on the idea that they could reduce monthly mortgage payments. 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 downside is that these loans could significantly increase the total interest borrowers pay and slow their accumulation of equity.

Faulting the Past Government and Financial Outlook

In their affordability campaign, Trump and his team have once more blamed the previous president for financial challenges, such as rising prices. Spokespeople claimed they “inherited a disaster from Joe Biden” and were “addressing Biden’s inflation.” This is unfounded and inaccurate allegations. Actually, the former president handed over a robust economic situation, with low price growth, solid expansion, and minimal joblessness. But, Trump’s policies—particularly his tariffs—have resulted in an difficult situation, driving costs higher and slowing GDP growth.

According to Mark Zandi, chief economist at a research firm, 22 states are experiencing economic decline, with their economies damaged by Trump’s tariffs. He fears that if key regions such as major economies tumble into recession, the nation could slide into a widespread recession. During recessions, consumers generally possess less money to spend, and price increases usually declines. Unfortunately, with the highly-touted cost initiative likely to do little to hold down prices, his most effective “tool” for achieving increased affordability might prove to be pushing the nation into recession—something that hard-pressed households cannot handle.