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Throughout the previous presidential campaign, the former president courted the electorate with promises to reduce prices starting on day one. However, after he assumed office, there was minimal focus to the cost of living. This shifted following inflation-weary voters expressed dissatisfaction at the ballot box. Within days, the Trump administration initiated a hastily assembled effort to address living costs. Regrettably, this initiative is a disorganized endeavor—characterized by illogical claims, inconsistencies, magical thinking, scapegoating, and Trumpian dishonesty.

Out-of-Touch Claims and Grocery Store Reality

Merely 48 hours post-election, the president kicked off his cost-reduction push 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—who frequently mingles with other ultra-rich individuals—revealed utter contempt for everyday citizens facing difficulties when visiting supermarkets. Essentially, he ignored their concerns as trivial, suggesting they were mistaken about price levels.

This statement about declining prices proved highly misleading and inaccurate. In what way could all costs be decreasing when the taxes he imposed were increasing prices? Recent data indicate the cost of bananas rose nearly 7% in the last twelve months, beef prices climbed almost 15%, and the cost of coffee surged 18.9%—partly due to punitive tariffs on Brazil’s coffee and beef. In the first three quarters, prices rose in five of the six main grocery groups tracked by the government’s price index, including animal proteins (up 4.5%), drinks (up 2.8%), and fruits and vegetables (up 1.3%).

Inconsistencies and Inaccuracies in Financial Statements

In spite of these numbers, Trump continues to push his big lie about lower costs. After the vote, he has claimed there is “almost no price increases,” insisted “costs have fallen significantly,” and asserted “living is cheaper under Trump than it was under sleepy Joe Biden.” Such remarks contradict the fact that prices overall have clearly increased after the previous administration. Currently, price growth is at a 3 percent per year, that’s 50% higher than the central bank’s target of 2 percent. In another falsehood, Trump boasted that gas prices had dropped to nearly $2 a gallon, despite government figures indicate they average over three dollars.

Confronted by actual conditions and declining opinion polls, some Trump aides evidently cautioned that his “prices are down” message portrayed him as disconnected from ordinary people. Many citizens are angry about prices continuing to climb after promises of reductions. As a result, advisers suggested one quick fix: roll back certain import taxes. This sensible idea clashed with Trump’s absurd assertion that new tariffs wouldn’t raise prices for US consumers.

Suggested Fixes and Their Potential Impact

As some tariffs being rolled back on coffee, beef, tomatoes, and bananas, the administration will likely announce that he has cut prices once these products start declining in price. This would be like an arsonist taking credit for putting out a blaze that he ignited. On another occasion, when addressing fast-food leaders, he declared that “this is the golden age of America” and told listeners that “prices are coming down and all of that stuff.” These comments come naturally for a billionaire to make, but they ring hollow to millions of Americans who are struggling—especially when millions risk cuts to nutrition assistance or skyrocketing health premiums.

According to a survey from October, 74% of Americans think economic conditions are mediocre or bad, while just a quarter rate them good or excellent. A separate survey 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 chief financial officer, recently disputed claims of a golden age. He stated that far from booming, certain sectors of the American economy “have contracted.” Industrial production—which Trump vowed to save—appears to have contracted for eight months in a row and shed around tens of thousands of positions since January. Citing these challenges, the secretary called on the central bank to reduce borrowing costs—a move that could help affordability.

In response to public dismay about living costs, the president proposed a direct payment of “a payout of at least $2,000 a person” excluding “high income people.” For many households in need, it seems like manna from heaven, but it is unlikely that Congress—already alarmed about huge budget deficits—will enact the proposal. This idea would likely raise government expenditure, push up borrowing costs, and potentially drive prices higher by injecting cash into consumers’ pockets.

Another supposed fix for affordability centered on creating 50-year mortgages, with the notion that they could reduce monthly mortgage payments. But, reality is that such lengthy loans have minimal impact to reduce installments—frequently reducing them by just $100 or $200 each month. The drawback is that these loans could more than double the total interest borrowers pay and hinder their accumulation of equity.

Faulting the Past Government and Financial Prospects

As part of their affordability campaign, Trump and his team have once more blamed the previous president for financial challenges, such as rising prices. Officials stated they “faced a mess from Joe Biden” and were “cleaning up Biden’s inflation.” These are unfounded and untruthful claims. Actually, the former president handed over a robust economic situation, with inflation way down, solid expansion, and unemployment low. However, Trump’s policies—particularly his tariffs—have resulted in an economic mess, driving costs higher and reducing economic output.

According to an economist, lead analyst at Moody’s Analytics, 22 states are already in recession, with their conditions worsened by Trump’s tariffs. He fears that if key regions such as California and New York enter a downturn, the nation could slide into a widespread recession. During recessions, people typically have less money to spend, and price increases usually declines. Sadly, with the highly-touted cost initiative likely to do little to control costs, his most effective “tool” for improving living standards might prove to be pushing the nation into recession—a scenario that hard-pressed households cannot handle.