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During last year's race for the White House, the former president wooed voters with pledges to lower costs immediately upon taking office. However, once he assumed office, he seemed to pay precious little attention to affordability issues. This shifted after inflation-weary voters delivered a rebuke at the polls. Within days, his team launched a hastily assembled effort to address affordability. Regrettably, this initiative has proven a disorganized endeavor—filled with illogical claims, inconsistencies, magical thinking, scapegoating, and misleading statements.

Out-of-Touch Assertions and Grocery Store Truth

Just two days 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 billionaire Trump—who frequently associates with fellow billionaires—revealed utter contempt for everyday citizens facing difficulties every time they go the grocery store. In effect, he ignored their struggles as unimportant, implying they were mistaken about price levels.

His assertion about declining prices was absurdly obtuse and dishonest. How could every price be falling when his cherished tariffs were increasing costs? Official statistics show banana prices rose nearly 7% over the past year, beef prices climbed almost 15%, and the cost of coffee surged by nearly 19%—partly because of punitive tariffs 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 meats, poultry, and fish (rising over 4%), non-alcoholic beverages (increasing nearly 3%), and produce (up 1.3%).

Inconsistencies and Falsehoods in Financial Statements

In spite of the evidence, the president persists in repeating his misleading narrative about affordability. After the vote, he has stated there is “almost no price increases,” insisted “prices are way down,” and asserted “it is far less expensive under Trump than it was under sleepy Joe Biden.” These statements ignore the reality that prices overall have unarguably risen after the previous administration. Currently, price growth is at a 3 percent per year, that’s 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 average over three dollars.

Faced with reality and lower approval ratings, advisers evidently warned that his “prices are down” rhetoric portrayed him as dangerously out of touch from ordinary people. Many voters are frustrated about rising costs following assurances of decreases. As a result, aides suggested one quick fix: roll back some of Trump’s beloved tariffs. The logical move contradicted the president’s unrealistic claim that new tariffs wouldn’t raise prices for US consumers.

Proposed Fixes and Their Possible Effects

With certain taxes reduced on coffee, beef, tomatoes, and bananas, Trump will probably announce that he has lowered costs once these products start declining in price. That would be like an arsonist boasting for putting out a fire that he ignited. On another occasion, when addressing McDonald’s executives, Trump stated that “we are in the golden age of America” and told listeners that “costs are decreasing and all of that stuff.” Such statements are easy for a wealthy individual to make, but seem insincere to countless households who are struggling—particularly when many risk losing food stamps or skyrocketing health premiums.

Per a recent poll from October, 74% of Americans believe the state of the economy are fair or poor, while just a quarter consider them good or excellent. A separate survey showed that a majority of citizens say the administration’s actions have “made the economy worse” in the country.

Economic Truth and Suggested Steps

The treasury secretary, Trump’s chief financial officer, lately contradicted claims of a prosperous era. He stated that instead of thriving, some parts of the American economy “have contracted.” The manufacturing sector—which Trump vowed to save—seems to have shrunk for eight months in a row and shed approximately tens of thousands of positions since January. Citing these challenges, Bessent urged the central bank to reduce borrowing costs—an action that could ease financial pressure.

In response to widespread concern about affordability, the president suggested a cash handout of “a dividend of at least $2,000 a person” excluding “the wealthy.” To numerous struggling Americans, it seems like manna from heaven, but the prospects are dim that lawmakers—already alarmed about large shortfalls—will enact the proposal. The scheme could increase federal spending, increase interest rates, and possibly fuel inflation by injecting cash into the economy.

A further supposed fix for affordability involved creating half-century home loans, with the notion that they could lower housing costs. However, reality is that such lengthy loans would do little to reduce installments—frequently cutting them by a small amount per month. The downside is that these mortgages could significantly increase the overall cost homeowners pay and hinder building home value.

Faulting 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 economic problems, including rising prices. Officials stated they “inherited a disaster from Joe Biden” and were “addressing the prior administration’s price hikes.” These are unfounded and untruthful claims. Actually, the former president handed over a robust economic situation, with low price growth, economic growth strong, and unemployment low. But, Trump’s policies—particularly his tariffs—have created an difficult situation, pushing up prices and slowing GDP growth.

According to an economist, lead analyst at Moody’s Analytics, 22 states are experiencing economic decline, with their conditions worsened by Trump’s tariffs. He fears that if large states like California and New York tumble into recession, the nation could slide into a widespread recession. During recessions, consumers generally possess reduced funds to spend, and price increases usually declines. Sadly, with the highly-touted cost initiative probably ineffective to control costs, his most effective “tool” for achieving increased affordability might end up pushing the nation into recession—a scenario that hard-pressed households cannot handle.