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During the previous presidential campaign, the former president wooed voters with pledges to lower prices immediately upon taking office. However, once he assumed office, he seemed to pay precious little focus to the cost of living. This shifted following inflation-weary voters expressed dissatisfaction at the polls. Within days, the Trump administration initiated a slapdash effort to tackle affordability. Unfortunately, this initiative is a disorganized endeavor—filled with illogical claims, contradictions, unrealistic expectations, blame-shifting, and Trumpian dishonesty.

Detached Claims and Grocery Store Truth

Just two days post-election, the president began his cost-reduction push with a poorly received statement: “Food prices are way down. Everything is way down… So I don’t want to hear about the cost of living.” These words from billionaire Trump—who frequently associates with other ultra-rich individuals—demonstrated utter contempt for millions of Americans facing difficulties when visiting the grocery store. Essentially, he dismissed their concerns as trivial, suggesting they were mistaken about actual costs.

His assertion about declining prices was highly misleading and dishonest. In what way could every price be falling when the taxes he imposed were pushing up prices? Recent data show banana prices increased nearly 7% in the last twelve months, the price of beef went up 14.7%, and coffee prices surged 18.9%—in part because of import taxes on Brazil’s coffee and beef. In the first three quarters, prices rose in the majority of food categories monitored by the government’s price index, such as meats, poultry, and fish (rising over 4%), non-alcoholic beverages (increasing nearly 3%), and fruits and vegetables (up 1.3%).

Contradictions and Falsehoods in Financial Claims

In spite of these numbers, the president persists in repeating his big lie about lower costs. After the vote, he has stated there is “virtually no inflation,” insisted “costs have fallen significantly,” and argued “it is far less expensive under Trump than it was under his predecessor.” Such remarks contradict the reality that general costs have unarguably risen since Biden left office. Currently, inflation is running at a 3% annual rate, which is 50% higher than the central bank’s 2% goal. Adding to the inaccuracies, he boasted that fuel costs had dropped to nearly $2 a gallon, even though official data indicate they are over three dollars.

Faced with reality and lower approval ratings, advisers apparently warned that his “costs are falling” rhetoric portrayed him as dangerously out of touch from ordinary people. A lot of voters are frustrated about rising costs following assurances of reductions. In response, advisers proposed a simple solution: reduce some of Trump’s beloved tariffs. This sensible idea clashed with Trump’s absurd assertion that new tariffs wouldn’t raise prices for American shoppers.

Suggested Fixes and Their Possible Effects

As some tariffs reduced on coffee, beef, tomatoes, and bananas, the administration will likely announce that he has lowered costs once these products start declining in price. That would be similar to a firestarter taking credit for putting out a fire that he had started. In another instance, while speaking McDonald’s executives, Trump declared that “we are in the golden age of America” and assured listeners that “costs are decreasing and all of that stuff.” Such statements come naturally for a wealthy individual to make, but they ring hollow to countless households facing hardships—particularly when millions risk cuts to nutrition assistance or skyrocketing health premiums.

Per a recent poll conducted last fall, 74% of Americans believe economic conditions are mediocre or bad, while just a quarter rate them positive. Another poll found that 61% of Americans say the administration’s actions have “worsened economic conditions” in the country.

Economic Truth and Suggested Measures

The treasury secretary, the president’s top economic official, lately contradicted claims of a prosperous era. He noted that instead of thriving, certain sectors of the American economy “have contracted.” Industrial production—a priority for the administration—seems to have shrunk for eight months in a row and shed around 33,000 jobs this year. Pointing to this weakness, Bessent urged the Federal Reserve to cut interest rates—a move that could ease financial pressure.

In response to public dismay about affordability, Trump proposed a direct payment of “a payout of at least $2,000 a person” excluding “high income people.” To numerous households in need, this sounds like manna from heaven, but it is unlikely that Congress—already alarmed about huge budget deficits—will approve the proposal. The scheme could raise government expenditure, increase interest rates, and possibly drive prices higher by putting more money into consumers’ pockets.

Another proposed solution for affordability involved creating 50-year mortgages, based on the idea that this would reduce monthly mortgage payments. However, the truth is that 50-year mortgages have minimal impact to reduce installments—often reducing them by a small amount each month. The downside is that these loans could significantly increase the overall cost borrowers pay and slow their accumulation of equity.

Faulting the Previous Administration and Financial Outlook

As part of their cost-cutting effort, the administration have once more pointed fingers at 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 inaccurate allegations. In reality, the former president left a robust economic situation, with low price growth, solid expansion, and unemployment low. But, Trump’s policies—particularly his tariffs—have resulted in an difficult situation, driving costs higher and reducing economic output.

Per Mark Zandi, chief economist at Moody’s Analytics, 22 states are experiencing economic decline, with their economies damaged by Trump’s tariffs. He worries that if large states like California and New York enter a downturn, the nation could slide into a widespread recession. In downturns, people generally possess reduced funds to spend, and inflation usually declines. Sadly, with Trump’s much-ballyhooed affordability campaign likely to do little to hold down prices, his primary method for improving living standards might end up triggering an economic contraction—a scenario that hard-pressed households really can’t afford.