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Throughout the previous presidential campaign, Donald Trump wooed the electorate with promises to lower prices starting on day one. However, once he assumed office, there was precious little attention to the cost of living. All that changed after price-fatigued voters expressed dissatisfaction at the ballot box. Shortly thereafter, his team launched a hastily assembled campaign to tackle living costs. Regrettably, the drive is a hot mess—characterized by absurdity, contradictions, unrealistic expectations, blame-shifting, and misleading statements.

Detached Claims and Grocery Store Truth

Just two days after the election, the president kicked off his cost-reduction push with a disastrous statement: “Food prices are way down. All items is way down… So I don’t want to hear about affordability.” These words from the wealthy leader—often mingles with fellow billionaires—demonstrated a lack of empathy for millions of Americans facing difficulties every time they go supermarkets. In effect, he dismissed their concerns as unimportant, implying they were mistaken about actual costs.

His assertion that everything was “way down” was highly misleading and dishonest. How could all costs be falling when the taxes he imposed were pushing up costs? Recent data indicate the cost of bananas increased 6.9% in the last twelve months, the price of beef went up 14.7%, and the cost of coffee surged 18.9%—partly because of import taxes applied to Brazilian products. In the first three quarters, prices rose in the majority of food categories monitored by the government’s price index, including animal proteins (rising over 4%), non-alcoholic beverages (increasing nearly 3%), and produce (rising slightly).

Inconsistencies and Inaccuracies in Financial Statements

Despite the evidence, Trump continues to push his big lie about lower costs. Since election day, he has claimed there is “virtually no inflation,” declared “prices are way down,” and argued “living is cheaper under Trump than it was under sleepy Joe Biden.” These statements ignore the fact that prices overall have unarguably risen since Biden left office. 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 boasted that gas prices had dropped to nearly $2 a gallon, despite official data show they average $3.19.

Faced with reality and declining opinion polls, advisers apparently cautioned that his “costs are falling” rhetoric portrayed him as disconnected from ordinary people. A lot of citizens are frustrated about rising costs after assurances of reductions. As a result, advisers proposed one quick fix: reduce certain import taxes. This sensible idea clashed with Trump’s absurd assertion that additional taxes wouldn’t raise prices for US consumers.

Suggested Solutions and Their Potential Effects

With some tariffs reduced on several food items, the administration will likely claim that he has lowered costs once these products begin to fall in price. That would be like an arsonist boasting for extinguishing a fire that he ignited. In another instance, while speaking McDonald’s executives, Trump stated 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 seem insincere to countless households facing hardships—especially when many face cuts to nutrition assistance or skyrocketing health premiums.

Per a recent poll from October, 74% of Americans believe economic conditions are fair or poor, while just a quarter consider them good or excellent. A separate survey showed that a majority of citizens feel Trump’s policies have “worsened economic conditions” in the country.

Economic Reality and Proposed Measures

Scott Bessent, the president’s top economic official, recently contradicted claims of a golden age. He noted that far from booming, some parts of the US economy “have contracted.” Industrial production—a priority for the administration—appears to have contracted for eight months in a row and lost around 33,000 jobs since January. Pointing to these challenges, the secretary urged the central bank to reduce borrowing costs—an action that could ease financial pressure.

Reacting to public dismay about living costs, the president proposed a cash handout of “a dividend of at least $2,000 a person” not for “the wealthy.” To numerous households in need, this sounds like manna from heaven, but the prospects are dim that Congress—concerned about large shortfalls—will enact such a plan. This idea could increase federal spending, increase interest rates, and potentially drive prices higher by putting more money into consumers’ pockets.

Another proposed solution for affordability involved introducing 50-year mortgages, based on the idea that they could reduce monthly mortgage payments. However, reality is that 50-year mortgages have minimal impact to lower monthly payments—frequently cutting them by just $100 or $200 per month. The downside is that these loans could more than double the overall cost borrowers pay and slow building home value.

Blaming the Previous Administration and Financial Outlook

In their cost-cutting effort, Trump and his team have again pointed fingers at the previous president for economic problems, including increasing costs. Spokespeople claimed they “inherited a disaster from Joe Biden” and were “addressing the prior administration’s price hikes.” This is unfounded and inaccurate claims. Actually, the former president handed over a robust economic situation, with low price growth, economic growth strong, and unemployment low. However, the current administration’s actions—particularly his tariffs—have resulted in an economic mess, pushing up prices and reducing economic output.

According to Mark Zandi, chief economist at Moody’s Analytics, numerous regions are experiencing economic decline, with their economies damaged by Trump’s tariffs. Zandi worries that if large states like California and New York tumble into recession, the nation could slide into a broad economic slump. During recessions, consumers typically have less money to spend, and price increases usually declines. Sadly, with the highly-touted cost initiative probably ineffective to hold down prices, his most effective “tool” for improving living standards might end up triggering an economic contraction—something that struggling Americans cannot handle.