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Throughout the previous presidential campaign, Donald Trump wooed voters with promises to lower costs starting on day one. However, after he assumed office, there was precious little attention to the cost of living. This shifted following inflation-weary citizens expressed dissatisfaction at the ballot box. Within days, his team launched a slapdash campaign to tackle affordability. Regrettably, this initiative is a hot mess—filled with absurdity, inconsistencies, magical thinking, scapegoating, and Trumpian dishonesty.

Detached Claims and Grocery Store Reality

Just two days after the election, the president began 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.” These words from billionaire Trump—who frequently associates with other ultra-rich individuals—demonstrated utter contempt for everyday citizens who struggle every time they go the grocery store. In effect, he dismissed their concerns as trivial, suggesting they were mistaken about actual costs.

This statement about declining prices was absurdly obtuse and inaccurate. How could every price be falling when his cherished tariffs were pushing up prices? Recent data show banana prices rose 6.9% over the past year, the price of beef went up almost 15%, and the cost of coffee surged 18.9%—in part because of punitive tariffs on Brazil’s coffee and beef. In the first three quarters, costs increased in the majority of food categories tracked by the Consumer Price Index, including meats, poultry, and fish (up 4.5%), non-alcoholic beverages (up 2.8%), and produce (rising slightly).

Inconsistencies and Inaccuracies in Financial Claims

Despite the evidence, Trump persists in repeating his big lie about affordability. Since election day, he has stated there is “virtually no inflation,” insisted “costs have fallen significantly,” and asserted “it is far less expensive under Trump than it was under his predecessor.” Such remarks contradict the reality that general costs have clearly increased since Biden left office. Currently, inflation is running at a 3% annual rate, which is 50% higher than the Federal Reserve’s 2% goal. In another falsehood, he boasted that fuel costs had fallen to nearly $2 a gallon, even though government figures indicate they average $3.19.

Faced with actual conditions and lower approval ratings, advisers apparently warned that his “costs are falling” message portrayed him as disconnected from ordinary people. Many voters are angry about rising costs after promises of decreases. In response, advisers proposed one quick fix: roll back certain import taxes. The logical move contradicted Trump’s absurd assertion that additional taxes wouldn’t raise prices for US consumers.

Proposed Fixes and Their Potential Effects

With some tariffs reduced on several food items, the administration will probably claim that he has cut prices once those foods start declining in price. That would be similar to a firestarter taking credit for putting out a fire that he ignited. On another occasion, while speaking fast-food leaders, Trump declared that “this is the golden age of America” and assured the audience that “costs are decreasing and all of that stuff.” Such statements come naturally for a wealthy individual to make, but seem insincere to millions of Americans facing hardships—especially when many face losing food stamps or rising insurance costs.

Per a recent poll conducted last fall, 74% of Americans think economic conditions are mediocre or bad, while only 26% consider them good or excellent. A separate survey found that a majority of citizens feel Trump’s policies have “worsened economic conditions” in the country.

Financial Reality and Proposed Steps

Scott Bessent, Trump’s chief financial officer, lately disputed assertions of a prosperous era. He stated that instead of thriving, some parts of the US economy “are in recession.” Industrial production—a priority for the administration—seems to have shrunk for eight months in a row and lost approximately 33,000 jobs since January. Citing these challenges, the secretary urged the central bank to reduce borrowing costs—an action that could ease financial pressure.

Reacting to widespread concern about living costs, the president proposed a direct payment of “a dividend of at least $2,000 a person” excluding “high income people.” For many households in need, this sounds like a financial lifeline, but the prospects are dim that lawmakers—concerned about huge budget deficits—will approve such a plan. This idea could increase federal spending, increase interest rates, and potentially fuel inflation by putting more money into the economy.

Another proposed solution for affordability centered on introducing 50-year mortgages, based on the idea that they could lower housing costs. However, reality is that such lengthy loans have minimal impact to lower monthly payments—often cutting them by a small amount per month. The downside is that these mortgages could significantly increase the total interest homeowners pay and slow their accumulation of equity.

Faulting the Past Government and Financial Outlook

As part of their affordability campaign, Trump and his team have again blamed Biden for financial challenges, including rising prices. Officials stated they “inherited a disaster from Joe Biden” and were “cleaning up the prior administration’s price hikes.” This is unfounded and untruthful claims. In reality, Biden left a strong economy, with inflation way down, economic growth strong, and unemployment low. However, the current administration’s actions—especially import taxes—have resulted in an economic mess, pushing up prices and slowing GDP growth.

According to Mark Zandi, chief economist at a research firm, 22 states are already in recession, with their economies damaged by the administration’s trade policies. Zandi fears that if large states such as California and New York enter a downturn, the nation could slide into a widespread recession. During recessions, people typically have reduced funds to spend, and price increases usually declines. Sadly, with the highly-touted cost initiative probably ineffective to control costs, his primary method for achieving increased affordability might end up triggering an economic contraction—a scenario that hard-pressed households cannot handle.