Source: Fortune
Summary
President Trump told a crowd in Marietta, Georgia, that “affordability” is a term made up by Democrats, despite the term being widely used to describe the rising cost of living. Trump blamed his predecessor Joe Biden and “radical left Democrats” for the worst inflation in 48 years, citing a Treasury Secretary as his source. Trump also claimed that oil prices will come down, despite a recent surge in prices due to conflict in the Middle East. The president’s comments were met with skepticism, with some pointing out that the stock market’s gains have not translated into lower prices for everyday Americans.
Our Reading
The numbers tell one story. Trump’s economic narrative is accurate in pieces, but misleading in sum. The stock market has hit 73 all-time highs since the election, but consumer confidence is near historic lows. The president’s comments on affordability and oil prices are at odds with the reality of rising costs and conflict in the Middle East. Trump’s tendency to blame others for economic problems is a familiar refrain. The affordability squeeze weighing on voters is real, and Trump’s dismissal of it as a “made-up word” is unlikely to resonate with those feeling the pinch.
Trump’s comments on affordability are a signal that he is out of touch with the concerns of everyday Americans.
Author: Evan Null
