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Throughout last year's race for the White House, the former president courted the electorate with promises to lower costs starting on day one. But, after he assumed office, he seemed to pay minimal focus to the cost of living. All that changed following inflation-weary voters delivered a rebuke at the polls. Within days, the Trump administration initiated a hastily assembled effort to address living costs. Regrettably, the drive is a hot mess—filled with illogical claims, contradictions, magical thinking, blame-shifting, and Trumpian dishonesty.

Out-of-Touch Assertions and Supermarket Reality

Just two days post-election, Trump kicked off his cost-reduction push with a poorly received remark: “Our groceries are way down. All items is way down… So I don’t want to hear about affordability.” This comment from the wealthy leader—often associates with other ultra-rich individuals—demonstrated a lack of empathy for everyday citizens facing difficulties every time they go the grocery store. Essentially, he dismissed their concerns as unimportant, suggesting they had it wrong about actual costs.

This statement about declining prices was absurdly obtuse and dishonest. In what way could all costs be decreasing when his cherished tariffs were increasing costs? Recent data indicate the cost of bananas increased 6.9% in the last twelve months, the price of beef went up almost 15%, and the cost of coffee surged by nearly 19%—in part because of import taxes on Brazil’s coffee and beef. In the first three quarters, prices rose in five of the six food categories tracked by the Consumer Price Index, including meats, poultry, and fish (up 4.5%), drinks (increasing nearly 3%), and fruits and vegetables (up 1.3%).

Contradictions and Falsehoods in Economic Statements

Despite the evidence, the president continues to push his misleading narrative about lower costs. Since election day, he has stated there is “virtually no inflation,” insisted “costs have fallen significantly,” and asserted “living is cheaper under Trump than it was under his predecessor.” These statements ignore the fact that general costs have unarguably risen since Biden left office. At present, price growth is running at a 3% annual rate, that’s half again as much than the central bank’s target of 2 percent. In another falsehood, Trump claimed that fuel costs had fallen to around two dollars, despite official data show they are over three dollars.

Confronted by actual conditions and lower approval ratings, advisers apparently warned that his “prices are down” message portrayed him as dangerously out of touch from typical Americans. Many citizens are angry about rising costs after promises of reductions. As a result, advisers suggested one quick fix: roll back some of Trump’s beloved tariffs. This sensible idea clashed with Trump’s absurd assertion that additional taxes wouldn’t raise prices for US consumers.

Suggested Fixes and Their Possible Effects

With certain taxes reduced on several food items, Trump will likely claim 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 blaze that he ignited. On another occasion, while speaking McDonald’s executives, Trump stated that “we are in the golden age of America” and assured listeners that “prices are coming down and all of that stuff.” Such statements come naturally for a wealthy individual to make, but seem insincere to millions of Americans facing hardships—particularly when many face losing food stamps or rising insurance costs.

According to a recent poll from October, three-quarters of respondents believe economic conditions are fair or poor, while only 26% consider them good or excellent. A separate survey found that 61% of Americans feel Trump’s policies have “worsened economic conditions” in the country.

Financial Truth and Suggested Measures

Scott Bessent, the president’s chief financial officer, lately contradicted assertions of a golden age. He noted that instead of thriving, certain sectors of the US economy “are in recession.” The manufacturing sector—which Trump vowed to save—seems to have shrunk for multiple consecutive months and shed around 33,000 jobs this year. Citing this weakness, Bessent called on the central bank to reduce borrowing costs—a move that could ease financial pressure.

In response to widespread concern about living costs, Trump suggested a direct payment of “a payout of at least $2,000 a person” excluding “high income people.” For many struggling Americans, it seems like manna from heaven, but it is unlikely that lawmakers—concerned about large shortfalls—will approve such a plan. This idea could increase federal spending, increase borrowing costs, and possibly drive prices higher by putting more money into the economy.

A further proposed solution for affordability centered on creating half-century home loans, with the notion that this would reduce monthly mortgage payments. However, the truth is that 50-year mortgages have minimal impact to lower monthly payments—often reducing them by just $100 or $200 each month. The drawback is that these mortgages could more than double the total interest borrowers pay and slow building home value.

Blaming the Previous Administration and Financial Prospects

As part of their cost-cutting effort, Trump and his team have once more pointed fingers at the previous president for financial challenges, including rising prices. Spokespeople stated they “faced a mess from Joe Biden” and were “addressing Biden’s inflation.” This is unfounded and inaccurate allegations. In reality, Biden left a strong economy, with low price growth, economic growth strong, and minimal joblessness. However, Trump’s policies—particularly import taxes—have created an difficult situation, pushing up prices and slowing GDP growth.

Per an economist, chief economist at Moody’s Analytics, 22 states are already in recession, with their conditions worsened by the administration’s trade policies. Zandi worries that if key regions like major economies enter a downturn, the US could slide into a widespread recession. In downturns, people generally possess reduced funds to spend, and inflation usually declines. Sadly, given the highly-touted cost initiative likely to do little to hold down prices, his most effective “tool” for improving living standards might prove to be triggering an economic contraction—something that struggling Americans cannot handle.