President Donald Trump is venturing beyond the confines of the White House to confront the economic challenges facing the nation. It’s anticipated that he’ll not only speak but also engage with people directly.
He clearly needs to grab attention. Calling the Democrats’ remarks about “affordability” a “con job” risks giving the impression that they are indifferent to people’s struggles.
It’s important to grasp that he suggests the Democratic Party bears responsibility for the country’s current economic state. They can’t convincingly argue they’re accountable for robust economic growth, but, surprisingly, that seems to be the only way out of this situation.
His mission in Pennsylvania on Tuesday, and in subsequent speeches across the country early next year, will focus on addressing public dissatisfaction related to rising prices and stagnating wages.
Trump can and should provide some convincing arguments, though I have to say, I’m feeling a bit let down. A recent Fox News poll revealed that a significant three-quarters of Americans view the economy negatively.
It’s a stark contrast, really—down from 70% who felt similarly at the end of Joe Biden’s presidency.
Interestingly, while only about 15% of people felt Trump’s policies negatively affected the economy, similarly, just that percentage said they had a positive impact.
Trump needs to clarify the chaos he inherited and lay out his policies clearly. But when people are hurting, they don’t appreciate being told they’re mistaken.
We saw Biden & Co. face this reality, and it was tough.
Moreover, although the consumer price index has decreased from its peak of 9.1% during the Biden administration, prices remain high, with inflation around 3%. Wage increases have also been sluggish, particularly for lower-income earners.
Tariffs implemented during Trump’s term contribute to the situation. For instance, new car prices are heavily affected by import fees, leading to an average cost of around $50,000, as reported by Kelley Blue Book.
The president might argue about how the tariffs could eventually be beneficial, but voters expect presidents to tackle problems, and progress has been elusive thus far.
That said, Trump has some positive economic news to present. Average gas prices recently dipped below $3 for the first time since May 2021. Perhaps this is just an early indication of the potential impact of his energy policies on multiple sectors, including manufacturing, which typically sees higher wages.
Moreover, his policies are seemingly contributing to a decent, if not stellar, GDP growth of 3%.
By directly addressing public concerns—connecting with voters on what’s usually their top priority—he has a chance to make a significant impact.
This indicates a shift from his usual foreign policy focus, where he’s often traveling globally and engaging with world leaders, to prioritizing economics.
While ending wars is commendable, it doesn’t directly address domestic economic issues.
With the midterm elections just 11 months away, President Trump can’t overlook the saying made famous by James Carville in 1992: “It’s the economy, you idiot.”
