Brittany Bernstein writes for National Review Online about the president’s latest economic message.
President Trump attempted to take control of the narrative around the rising cost of living in the U.S. during a triumphant address from the White House on Wednesday evening, in which he blamed the Biden administration for leaving him with a “mess” and cited several ways his administration has improved the economy.
“I inherited a mess, and I’m fixing it,” Trump said, taking shots at his predecessor over inflation and immigration.
“Over the past 11 months, we have brought more positive change to Washington than any administration in American history. There’s never been anything like it,” Trump said in his 18-minute end-of-year address to the nation. …
… While the president is correct that many prices increased during the Biden administration, he seemed to inflate several of those figures. According to the Consumer Price Index data published by the government, new and used car prices rose 26 percent, gasoline prices rose 22 percent, hotel rates rose 20 percent, and airfare rose 3.5 percent under Biden.
Several of those categories are down under Trump, according to NBC News.
Under President Biden, inflation hit a peak of 9.1 percent in 2022; that figure dropped to 3 percent year-over-year in September. However, that means consumer prices have continued to rise, though the rate of increase has slowed.
Trump’s speech comes just one month after Democrats had a strong showing on Election Day in several states, thanks to voter concerns over the cost of living. Roughly three-quarters of Americans say their incomes are not keeping pace with inflation, according to a new CBS News poll. Just 32 percent of respondents said the condition of the economy is good.
Trump aimed to rewrite a more positive narrative about the country’s financial state.
“Much of this success has been accomplished by tariffs, my favorite word, tariffs, which for many decades have been used successfully by other countries against us, but not anymore,” Trump said of his perceived economic success.
