“One year into President Trump’s administration, we’re experiencing a robust economy. Incomes are on the rise, investments are significantly increasing, and inflation seems to be under control.”
This judgment came directly from President Trump during a speech in Iowa, where he shared his perspective on the perceived successes of his presidency.
It’s a bit uncertain if he thinks that referring to himself in the third person truly resonates with his audience the way he believes it does.
As the 2024 presidential race heats up, Trump keeps insisting he will tackle the affordability issues stemming from what he describes as “Bidenflation.”
He didn’t miss a chance to poke fun at Democrats in Iowa, suggesting they had invented the term “affordable.”
“I first heard it, well, a few months ago,” he remarked. “It’s not something you hear much now… mainly because prices have fallen so drastically.”
On November 29, President Trump also proclaimed on Truth Social: “I’m the president of affordability.” Yet, just weeks later in Detroit, he dismissed affordability as just a “false term” used by Democrats.
For Trump, the topic of affordability seems to fluctuate like some whimsical character from “Alice in Wonderland.”
The crowd at the Iowa rally waved signs created by the campaign that boldly declared “low prices.”
While gas prices have indeed dropped from last year, refilling the tank can still feel like an exercise in financial pain.
In August 2024, Trump promised to “cut energy and electricity prices by half within a year or maybe 18 months.”
However, the reality is that natural gas prices saw a significant increase last year. Overall energy costs have gone up nearly 6% since he took office.
As winter approaches, many consumers are looking at record heating bills due to the ongoing frigid temperatures across much of the country.
During the same campaign address, Trump claimed that “the price of everything, not just insurance…will drop rapidly.”
To put this into perspective, auto insurance premiums have risen by 12% since 2024, while homeowners insurance has seen a 9% increase.
Health insurance rates are also expected to jump by 18% this year, largely as a result of changes to Affordable Care Act subsidies.
While President Trump said that food prices are “decreasing very quickly” in Iowa, this is only partially true—especially if you’re primarily eating eggs, which have become more expensive due to an avian flu outbreak.
White House Press Secretary Caroline Levitt pointed to a DoorDash report claiming that the cost of a breakfast consisting of three eggs, a glass of milk, a bagel, and an avocado has dropped by 14%.
Yet, it’s doubtful that many Trump supporters are getting those avocado breakfasts delivered.
That DoorDash statistic hardly eases the sting for those reeling from a more than 30% increase in coffee prices and an 18% hike in orange prices since he took office.
In general, food prices have risen about 3% over the past year—outpacing overall inflation and accelerating at a rate exceeding the latter years of the Biden administration.
Trump makes grand claims about tackling drug and medical supply prices, asserting that there have been “unprecedented” price drops. Yet, he has not explained how prices can fall by more than 100%. Meanwhile, drug prices are, in fact, continuing to rise.
In Iowa, Trump praised tariffs almost reverently, as if they are miraculous solutions.
However, that’s costing Iowans approximately $100 million each month; tariff costs have surged 304% since he assumed office.
Documents indicate that tariffs have inflated the price of some fertilizers and parts, leading to increased costs for farming equipment.
These tariffs have also adversely affected agricultural exports, with the U.S. experiencing its largest agricultural trade deficit ever last year.
Iowa farmers reported a steep decline in crop receipts last year, along with rising bankruptcy rates.
Despite falling gasoline prices, filling up can still feel burdensome, as many have noted.
Polls suggest that about 70% of Americans believe Trump’s tariffs are contributing to rising costs.
When Amazon publicly acknowledged its obligations under U.S. tariffs, Trump personally called Jeff Bezos to voice his displeasure.
Team Trump’s denials can’t hide the impact of his unpopular tariffs on consumers.
Between November 2024 and November 2025, reports show minimal changes in real disposable income, with figures hovering around $52,324 to $52,557.
Estimates suggest that the average household is losing around $1,800 a year due to Trump’s tariffs.
Trump frequently boasts about his economic accomplishments as if he deserves accolades alongside those for peace. But consumer confidence has dipped to its lowest point since 2014.
Many voters say that they are struggling to make ends meet, with a significant number expressing that “living expenses” have become unmanageable for their families.
Can President Trump really dictate how Americans perceive the economy?
Labeling people as naïve or irresponsible for not feeling wealthy isn’t good politics.
The president’s proclamations can’t overshadow the daily challenges that millions of Americans face.
Questionable claims from DoorDash won’t shield Trump from a potential political fall.
James Bovard said, “Lost Rights: The Destruction of American Freedom.”
