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During last year's presidential campaign, Donald Trump wooed the electorate with promises to reduce prices immediately upon taking office. However, after his inauguration, there was precious little attention to the cost of living. This shifted after inflation-weary voters delivered a rebuke at the polls. Shortly thereafter, the Trump administration initiated a slapdash effort to tackle living costs. Unfortunately, the drive has proven a disorganized endeavor—characterized by absurdity, contradictions, magical thinking, scapegoating, and Trumpian dishonesty.

Out-of-Touch Assertions and Supermarket Truth

Merely 48 hours after the election, the president kicked off his affordability drive with a poorly received statement: “Our groceries are way down. All items is way down… So I don’t want to hear about affordability.” This comment from billionaire Trump—who frequently mingles with other ultra-rich individuals—revealed utter contempt for everyday citizens who struggle every time they go the grocery store. In effect, he ignored their concerns as unimportant, implying they were mistaken about price levels.

His assertion that everything was “way down” proved absurdly obtuse and inaccurate. In what way could every price be decreasing when the taxes he imposed were increasing prices? Official statistics show banana prices rose 6.9% over the past year, the price of beef climbed almost 15%, and coffee prices jumped 18.9%—in part because of punitive tariffs on Brazil’s coffee and beef. In the first three quarters, costs increased in five of the six main grocery groups monitored by the Consumer Price Index, including animal proteins (rising over 4%), drinks (up 2.8%), and fruits and vegetables (up 1.3%).

Contradictions and Falsehoods in Financial Claims

In spite of the evidence, the president persists in repeating his misleading narrative about affordability. Since election day, he has stated there is “virtually no inflation,” declared “prices are way down,” and asserted “living is cheaper under Trump than it was under his predecessor.” Such remarks ignore the reality that general costs have unarguably risen after the previous administration. At present, inflation is at a 3% annual rate, which is 50% higher than the Federal Reserve’s 2% goal. In another falsehood, Trump boasted that fuel costs had dropped to around two dollars, even though official data show they are $3.19.

Confronted by reality and lower approval ratings, some Trump aides evidently warned that his “prices are down” rhetoric portrayed him as dangerously out of touch from typical Americans. Many voters are angry about rising costs following assurances of reductions. In response, advisers suggested one quick fix: roll back certain import taxes. This sensible idea clashed with Trump’s absurd assertion that new tariffs would not increase costs for American shoppers.

Proposed Solutions and Their Potential Impact

As some tariffs being rolled back on coffee, beef, tomatoes, and bananas, Trump will likely claim that he has cut prices once these products begin to fall in price. That would be like an arsonist boasting for extinguishing a blaze that he ignited. On another occasion, when addressing McDonald’s executives, he declared that “this is the golden age of America” and assured the audience that “costs are decreasing and all of that stuff.” Such statements are easy for a billionaire to make, but they ring hollow to millions of Americans who are struggling—especially when many face losing food stamps or rising insurance costs.

According to a recent poll from October, three-quarters of respondents think economic conditions are mediocre or bad, while just a quarter consider them positive. Another poll showed that a majority of citizens feel Trump’s policies have “worsened economic conditions” in the country.

Financial Truth and Suggested Measures

The treasury secretary, the president’s top economic official, lately contradicted assertions of a golden age. He noted that instead of thriving, some parts of the US economy “have contracted.” Industrial production—which Trump vowed to save—appears to have contracted for multiple consecutive months and shed around 33,000 jobs since January. Pointing to these challenges, Bessent called on the central bank to reduce borrowing costs—an action that could help affordability.

Reacting to public dismay about affordability, the president suggested a direct payment of “a dividend of at least $2,000 a person” excluding “the wealthy.” For many struggling Americans, this sounds like manna from heaven, but it is unlikely that Congress—already alarmed about large shortfalls—will enact the proposal. This idea could increase federal spending, increase interest rates, and potentially drive prices higher by putting more money into consumers’ pockets.

Another supposed fix for affordability centered on introducing half-century home loans, based on the idea that they could lower housing costs. But, the truth 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 mortgages could more than double the overall cost borrowers pay and slow building home value.

Blaming the Previous Administration and Economic Outlook

In their affordability campaign, Trump and his team have once more pointed fingers at Biden for financial challenges, including rising prices. Spokespeople stated they “inherited a disaster from Joe Biden” and were “cleaning up the prior administration’s price hikes.” This is unfounded and inaccurate allegations. Actually, the former president handed over a strong economy, with inflation way down, economic growth strong, and unemployment low. But, Trump’s policies—particularly import taxes—have created an economic mess, driving costs higher and slowing GDP growth.

Per Mark Zandi, chief economist at a research firm, numerous regions are experiencing economic decline, with their conditions worsened by the administration’s trade policies. Zandi worries that if large states like major economies enter a downturn, the US could slide into a widespread recession. In downturns, consumers typically have less money to spend, and inflation usually declines. Unfortunately, with Trump’s much-ballyhooed affordability campaign likely to do little to control costs, his most effective “tool” for improving living standards might prove to be triggering an economic contraction—something that struggling Americans cannot handle.