US President Donald Trump tried desperately to defend his stewardship of the nation’s economy in a primetime address Wednesday night as prices continued to rise, unemployment jumped to a level not seen since the Covid-19 pandemic, and job growth slowed to a halt.
Consistent with his administration’s recent efforts to downplay negative economic data and opinion polling, Trump falsely declared in his televised address that he is bringing “high prices down and bringing them down very fast,” blaming his predecessor for economic pain that voters—including a growing share of the president’s—have increasingly pinned on the current occupant of the Oval Office.
Trump had fact-checkers working furiously to keep up as he repeated lie after lie, claiming grocery prices—which are up this year—are “falling rapidly,” a narrative sure to anger Americans who are skipping meals and tapping into their dwindling savings to make ends meet.
The president also asserted that he has pushed down drug prices by up to 600% as many Americans skip doses of their medications and cut pills in half to save money. Trump went on to decry the “steep increase in [health insurance] premiums being demanded by the Democrats,” a false description of premium hikes stemming from Republicans’ refusal to extend enhanced Affordable Care Act tax credits.
In an effort to bolster Trump’s distorted depiction of the US economy, the White House reportedly provided major television networks with graphics designed to give the president’s claims about falling prices the sheen of legitimacy. But the networks, with the predictable exception of Fox News, rebuffed White House pressure to use the slides because the data they showed was not clearly sourced.
“No matter how he tries to spin it, everything is getting more expensive and the American people are hurting,” said Rep. Pramila Jayapal (D-Wash.). “Our government should be working to lower costs, not pointing fingers and making excuses.”
Rep. Mark Pocan (D-Wis.) characterized the speech as further evidence that Trump is unfit for office.
“25th Amendment, folks,” Pocan wrote on social media. “This is pathetic.”
Very bizarre to give a victory lap speech when your numbers look like this pic.twitter.com/tW8bXYcjRj
— Alex Jacquez (@AlexSJacquez) December 18, 2025
With his economic approval rating at a new low, Trump tried to assuage angry Americans with promises of economic rewards in the near future, including a $1,776 “warrior dividend” for some military service members, purportedly funded by revenue from tariffs—which have driven up prices for US consumers.
A Joint Economic Committee analysis released this week estimates that “in just 10 months, the average American family has already paid nearly $1,200 in tariff costs, with the costs climbing steadily since the beginning of President Trump’s second term.”
Trump also celebrated the sprawling budget package that he signed into law over the summer, enacting the largest cuts to Medicaid and nutrition assistance in US history while delivering more tax breaks to the rich.
“Next year, you will also see the results of the largest tax cuts in American history that were really accomplished through our great Big, Beautiful Bill, perhaps the most sweeping legislation ever passed in Congress,” Trump boasted.
Bloomberg noted earlier this week that “most taxpayers will likely see only a modest boost that will do little to assuage their pocketbook concerns,” and that “wealthy taxpayers in high-tax states like California, New York, and New Jersey are the biggest winners.”
Ken Martin, chair of the Democratic National Committee, said in a statement following the president’s address that “Donald Trump tried to sell us all a shit sandwich, desperate to convince the American people (and even convince himself) that he isn’t a complete and utter failure.”
“Let’s summarize Trump’s first year back in office: He skyrocketed prices with his chaotic trade war, triggered mass layoffs, and priced millions out of healthcare—all while digging through the pockets of taxpayers to give massive tax cuts to CEOs and billionaires,” said Martin. “All he seems to care about is his $400 million ballroom to entertain his ultrawealthy donors.”
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