President Donald Trump often refers to the affordability crisis as a hoax. His White House may not agree.
Trump called the crisis a “fake” Democrat-created issue on the first night of the Republican National Committee’s first-ever midterm convention this week in Dallas. But the remark sits awkwardly beside months of White House messaging that has treated affordability as one of Trump’s central economic promises.
In his speech, Trump blamed former President Joe Biden for runaway inflation and said affordability concerns were fake “because I’m bringing the prices way down.” In the same speech, he promised that every adult US citizen would receive a $5,000 dividend from tariff revenue if Republicans won the midterms — a form of stimulus which economists expect would further exacerbate inflation.
Trump claimed that “food prices and almost every other item are rapidly going down,” even as consumer prices have increased by 4.3% since January 2025, with groceries up 3.4% and gasoline up 31% amid the ongoing crisis in Iran. This isn’t the first time Trump has brushed off affordability concerns, as the administration has at times taken a deal-with-it stance on high prices.
In November 2025, Trump told Fox News that Democrats “have this new word called ‘affordability,’ and [Republicans] don’t talk about it enough.” Days later, he called affordability a “con job,” adding that his party “did a great job on groceries and affordability,” and were “victors on affordability.”
By December, Trump was trying to have it both ways. In a speech in Pennsylvania, he said, “I have no higher priority than making America affordable again,” but also described affordability as Democrats’ “new word” and said, “they always have a hoax.”
The White House’s own messaging has told a different story Just a few days later in December, it acknowledged in a post that affordability is “finally trending in the right direction.” As part of the affordability push, the administration pledged to cap credit card interest rates at 10%, open “Trump accounts” that allot $1,000 to children born between 2025 and 2028, and ban institutional investors from purchasing single-family homes.
Trump’s State of the Union address also outlined ways to relieve pressure on US households, such as tax incentives for American-made cars and no tax on tips or overtime. In April, Trump signed an executive order expanding access to retirement savings by offering up to $1,000 in matching contributions for lower-income workers without employer-sponsored plans. A White House press release in August outlined how major retailers, energy companies, drug companies, and automakers have slashed prices on thousands of goods.
That mix of messages captures the tension in Trump’s economic pitch heading into the midterms: He wants credit for bringing prices down while rejecting the premise that affordability remains a crisis.
For voters still feeling squeezed, that may be a hard balance to sell.
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