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President Trump touts economic turnaround in national address, criticizes Biden-era policies for price increases
President Donald Trump addressed the nation in a primetime speech Wednesday, declaring his administration has pulled the American economy “back from the brink of ruin” following what he characterized as damaging policies under former President Joe Biden.
Speaking from the Diplomatic Reception Room of the White House, Trump pointed to specific economic improvements during his eleven months in office while contrasting them with price increases during the previous administration.
“When I took office, inflation was the worst in 48 years. And some would say in the history of our country, which caused prices to be higher than ever before, making life unaffordable for millions and millions of Americans,” Trump said. “This happened during a Democrat administration, and it’s when we first began hearing the word affordability.”
The president cited several statistics to illustrate economic hardships under the Biden administration, claiming car prices rose by at least 22%, gasoline increased 30% to 50%, hotel rates jumped 37%, and airfares climbed 31%. He also stated mortgage costs increased by $15,000 during “Democrat rule.”
“Now, under our leadership, they are all coming down and coming down fast,” Trump asserted. “Democrat politicians also sent the cost of groceries soaring, but we are solving that too.”
The timing of Trump’s address appears strategic, coming after Democrats gained ground in November elections with candidates who campaigned on “affordability” issues. Democratic candidates have accused Trump and Republicans of implementing policies that worsened the housing crisis and increased consumer costs.
In response, the Trump administration has intensified messaging that blames current economic challenges on Biden-era policies while highlighting recent improvements. The president specifically touted falling food prices as evidence of his administration’s success.
“The price of a Thanksgiving turkey was down 33% compared to Biden’s last year,” Trump said. “The price of eggs is down 82% since March, and everything else is falling rapidly. And it’s not done yet. But boy, are we making progress. Nobody can believe what’s going on.”
Trump also emphasized wage growth under his leadership, contrasting it with the previous administration. “Under Biden, real wages plummeted by $3,000. Under Trump, the typical factory worker, we’re seeing a wage increase of $1,300. For construction workers, it’s $1,800. For miners, we’re bringing back clean, beautiful coal, it’s $3,300,” he claimed.
The president highlighted that “for the first time in years, wages are rising much faster than inflation,” positioning this as evidence that his economic approach is working.
Beyond economic policy, Trump used the address to announce a new initiative for military personnel. In recognition of the upcoming 250th anniversary of American independence, the president revealed what he called “Warrior Dividends” for U.S. service members.
“We are sending every soldier $1,776. Think of that,” Trump said. “And the checks are already on the way.”
Economic analysts note that while some price decreases are indeed occurring, debate continues about how much credit current policies deserve versus market corrections that would have happened regardless of administration. Consumer sentiment indicators suggest Americans remain concerned about affordability despite recent improvements in specific sectors.
The address reflects the administration’s determination to control the economic narrative heading into 2026, particularly as affordability issues have proven politically potent for Democrats in recent elections. Trump’s focus on tangible price decreases demonstrates his team’s understanding that everyday costs remain top of mind for voters, regardless of broader economic indicators.
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7 Comments
Interesting claims from President Trump. I’d like to see the full economic data to compare the before and after periods he describes. Curious to hear more details on how specific policies may have impacted prices and affordability.
I appreciate Trump highlighting the economic challenges faced by Americans under the previous administration. However, I think it’s important to examine the full context and look at the nuances, not just cherry-picked statistics.
This is an important economic discussion, but I’m cautious about accepting the president’s narrative without seeing the underlying data. I’d encourage a thorough, nonpartisan evaluation of the economic changes since the Biden administration.
The president’s figures on price increases seem quite high. I wonder how these compare to historical trends and other factors like supply chain disruptions. It would be good to get a more balanced analysis from independent economists.
The president’s claims about price increases in key sectors like autos, fuel, and travel seem plausible, but I’d want to verify the specific numbers and understand the broader economic factors at play. A more in-depth analysis would be helpful.
As someone invested in the mining and commodities space, I’m closely following these economic trends. Trump’s speech highlights some concerning price increases, but I’d like to see a more comprehensive assessment from independent sources.
As an investor in mining and energy stocks, I’m closely watching the economic shifts since the Biden administration. Trump’s commentary on inflation and affordability is concerning, but I’d prefer data-driven assessments from reliable sources.