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Throughout last year's presidential campaign, Donald Trump wooed the electorate with pledges to reduce prices immediately upon taking office. However, after his inauguration, he seemed to pay precious little attention to the cost of living. All that changed following price-fatigued citizens expressed dissatisfaction at the polls. Shortly thereafter, the Trump administration launched a hastily assembled effort to tackle living costs. Regrettably, the drive is a disorganized endeavor—characterized by illogical claims, inconsistencies, magical thinking, blame-shifting, and Trumpian dishonesty.

Detached Claims and Grocery Store Truth

Merely 48 hours after the election, Trump kicked off his affordability drive with a poorly received remark: “Food prices are way down. All items is way down… So I don’t want to hear about affordability.” These words from the wealthy leader—who frequently mingles with fellow billionaires—revealed a lack of empathy for everyday citizens who struggle when visiting the grocery store. Essentially, he ignored their struggles as trivial, implying they were mistaken about price levels.

This statement that everything was “way down” proved absurdly obtuse and inaccurate. In what way could every price be decreasing when the taxes he imposed were pushing up costs? Official statistics show the cost of bananas rose nearly 7% over the past year, the price of beef went up 14.7%, and the cost of coffee surged 18.9%—in part because of punitive tariffs applied to Brazilian products. In the first three quarters, prices rose in the majority of food categories monitored by the Consumer Price Index, including animal proteins (up 4.5%), drinks (up 2.8%), and produce (rising slightly).

Inconsistencies and Falsehoods in Financial Statements

Despite these numbers, the president continues to push his misleading narrative about lower costs. After the vote, he has stated there is “almost no price increases,” insisted “prices are way down,” and argued “living is cheaper under Trump than it was under sleepy Joe Biden.” These statements ignore the fact that general costs have clearly increased since Biden left office. At present, price growth is running at a 3% annual rate, which is half again as much than the Federal Reserve’s target of 2 percent. In another falsehood, he boasted that fuel costs had dropped to around two dollars, even though official data show they are over three dollars.

Confronted by reality and lower approval ratings, some Trump aides apparently cautioned that his “prices are down” rhetoric portrayed him as dangerously out of touch from typical Americans. A lot of citizens are angry about rising costs after promises of reductions. As a result, aides suggested one quick fix: roll back certain import taxes. The logical move clashed with the president’s unrealistic claim that additional taxes wouldn’t raise prices for American shoppers.

Proposed Fixes and Their Possible Impact

With some tariffs reduced on several food items, Trump will likely announce that he has lowered costs once these products begin to fall in price. This would be similar to a firestarter taking credit for putting out a fire that he had started. On another occasion, while speaking McDonald’s executives, Trump declared 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 billionaire to make, but they ring hollow to millions of Americans who are struggling—especially when many face losing food stamps or rising insurance costs.

Per a survey from October, three-quarters of respondents believe economic conditions are fair or poor, while only 26% rate them good or excellent. Another poll found that 61% of Americans feel the administration’s actions have “worsened economic conditions” in the country.

Economic Truth and Proposed Steps

Scott Bessent, the president’s top economic official, recently contradicted assertions of a golden age. He noted that instead of thriving, certain sectors of the US economy “have contracted.” Industrial production—which Trump vowed to save—appears to have contracted for multiple consecutive months and shed around 33,000 jobs since January. Pointing to these challenges, the secretary urged the Federal Reserve to reduce borrowing costs—a move that could help affordability.

Reacting to widespread concern about affordability, Trump proposed a direct payment of “a payout of at least $2,000 a person” excluding “the wealthy.” To numerous households in need, this sounds like manna from heaven, but it is unlikely that lawmakers—already alarmed about large shortfalls—will enact the proposal. The scheme could raise government expenditure, increase borrowing costs, and potentially fuel inflation by injecting cash into the economy.

A further supposed fix for affordability centered on introducing half-century home loans, based on the idea that they could lower housing costs. But, reality is that 50-year mortgages would do little to lower monthly payments—frequently reducing them by just $100 or $200 per month. The downside is that these loans could more than double the overall cost borrowers pay and hinder building home value.

Blaming the Previous Administration and Economic Prospects

As part of their affordability campaign, Trump and his team have again blamed Biden for economic problems, such as rising prices. Officials claimed they “faced a mess from Joe Biden” and were “cleaning up Biden’s inflation.” This is unfounded and untruthful allegations. In reality, the former president left a strong economy, with inflation way down, solid expansion, and minimal joblessness. However, the current administration’s actions—particularly his tariffs—have resulted in an economic mess, pushing up prices and slowing GDP growth.

According to an economist, lead analyst at a research firm, numerous regions are experiencing economic decline, with their economies damaged by Trump’s tariffs. He worries that if key regions like California and New York enter a downturn, the US could slide into a widespread recession. In downturns, consumers generally possess reduced funds to spend, and inflation usually declines. Sadly, given the highly-touted cost initiative probably ineffective to hold down prices, his most effective “tool” for improving living standards might end up triggering an economic contraction—something that struggling Americans cannot handle.