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During the previous presidential campaign, the former president courted voters with promises to lower costs starting on day one. However, once his inauguration, there was precious little attention to affordability issues. This shifted following inflation-weary voters expressed dissatisfaction at the polls. Shortly thereafter, his team initiated a slapdash campaign to address living costs. Regrettably, this initiative is a hot mess—filled with illogical claims, contradictions, magical thinking, scapegoating, and misleading statements.

Detached Claims and Supermarket Reality

Merely 48 hours post-election, the president kicked off his affordability drive with a disastrous remark: “Food prices are way down. All items is way down… So I don’t want to hear about the cost of living.” This comment from billionaire Trump—who frequently associates with fellow billionaires—revealed a lack of empathy for everyday citizens facing difficulties every time they go the grocery store. Essentially, he dismissed their struggles as unimportant, implying they were mistaken about actual costs.

This statement about declining prices was highly misleading and dishonest. In what way could every price be decreasing when his cherished tariffs were pushing up costs? Official statistics show banana prices rose nearly 7% over the past year, the price of beef went up almost 15%, and coffee prices jumped by nearly 19%—partly due to punitive tariffs on Brazil’s coffee and beef. Between January and September, costs increased in the majority of food categories tracked by the Consumer Price Index, such as meats, poultry, and fish (rising over 4%), non-alcoholic beverages (increasing nearly 3%), and fruits and vegetables (rising slightly).

Inconsistencies and Inaccuracies in Financial Statements

In spite of these numbers, the president persists in repeating 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 “it is far less expensive under Trump than it was under sleepy Joe Biden.” These statements contradict the fact 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 central bank’s 2% goal. Adding to the inaccuracies, Trump claimed that gas prices had fallen to around two dollars, despite official data indicate they are $3.19.

Confronted by reality and lower approval ratings, advisers evidently cautioned that his “prices are down” message portrayed him as disconnected from ordinary people. A lot of citizens are angry about prices continuing to climb after assurances of reductions. In response, advisers suggested one quick fix: reduce certain import taxes. This sensible idea contradicted Trump’s absurd assertion that additional taxes would not increase costs for American shoppers.

Proposed Fixes and Their Possible Effects

As certain taxes reduced on several food items, Trump will likely claim that he has lowered costs once those foods begin to fall in price. This would be like an arsonist boasting for putting out a blaze that he had started. In another instance, while speaking McDonald’s executives, he stated that “this is the peak period of America” and told the audience that “prices are coming down and all of that stuff.” Such statements come naturally for a billionaire to make, but seem insincere to countless households who are struggling—especially when millions risk losing food stamps or skyrocketing health premiums.

Per a recent poll from October, three-quarters of respondents think the state of the economy are fair or poor, while just a quarter consider them good or excellent. Another poll found that 61% of Americans say Trump’s policies have “worsened economic conditions” in the country.

Financial Truth and Suggested Steps

Scott Bessent, Trump’s chief financial officer, recently disputed claims of a golden age. He noted 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 multiple consecutive months and lost approximately 33,000 jobs this year. Pointing to these challenges, Bessent called on the central bank to cut interest rates—an action that could ease financial pressure.

In response to widespread concern about living costs, Trump proposed a cash handout of “a dividend of at least $2,000 a person” excluding “high income people.” To numerous households in need, this sounds like a financial lifeline, but the prospects are dim that Congress—concerned about huge budget deficits—will approve the proposal. This idea would likely increase federal spending, push up borrowing costs, and possibly fuel inflation by injecting cash into the economy.

A further supposed fix for cost issues centered on introducing 50-year mortgages, with the notion that this would reduce monthly mortgage payments. But, reality is that such lengthy loans have minimal impact to lower monthly payments—often reducing them by just $100 or $200 per month. The downside is that these loans could significantly increase the total interest homeowners pay and slow their accumulation of equity.

Faulting the Previous Administration and Economic Outlook

In their affordability campaign, the administration have again pointed fingers at Biden for economic problems, such as rising prices. Officials claimed they “faced a mess from Joe Biden” and were “cleaning up the prior administration’s price hikes.” This is absurd and untruthful claims. Actually, the former president left a robust economic situation, with low price growth, economic growth strong, and unemployment low. However, Trump’s policies—particularly his tariffs—have created an difficult situation, pushing up prices and reducing economic output.

Per Mark Zandi, chief economist at a research firm, numerous regions are experiencing economic decline, with their conditions worsened by Trump’s tariffs. He worries that if large states like major economies enter a downturn, the US could face a broad economic slump. During recessions, people typically have reduced funds to spend, and price increases often falls. Unfortunately, with the highly-touted affordability campaign likely to do little to control costs, his most effective “tool” for improving living standards might end up pushing the nation into recession—a scenario that hard-pressed households really can’t afford.