FIRST: Donald Trump promised to “end inflation” and lower prices on “Day One.”
Trump in 2024: “Starting on day one, we will end inflation and make America affordable again, to bring down the prices of all goods.”
THEN: Trump started a reckless trade war and a deadly and costly war with Iran, driving up prices on everything from groceries to gas to housing.
Prices overall are up 3.7% compared to last year, as Trump’s war with Iran is projected to cost American taxpayers as much as $100 billion and consumers nearly $150 billion — approximately $1,100 per household since the war started. Americans have already spent $60 billion more on gas since the start of the war. To top it off, Americans are struggling in a historically unaffordable housing market, as existing home prices are up 54% since 2020 and are nearly five times median incomes.
As prices continue to climb, Trump’s job market is also in the gutter. The July jobs report revealed that the economy shed 23,000 jobs in July, and numbers for May and June were sharply revised down by a combined -103,000 jobs.
NOW: Trump and Republicans are facing historically low approval ratings as voters increasingly disapprove of their handling of the economy.
New reporting reveals that Republicans are losing their edge with voters on the economy, as Americans overwhelmingly disapprove of Trump’s economic agenda. Multiple polls show that voters now trust Democrats more than Republicans on the economy, including one survey showing Democrats up nine points.
In response, DNC Rapid Response Director Kendall Witmer released the following statement:
“Donald Trump’s tariffs and his war with Iran sent prices skyrocketing — it’s no wonder voters are fed up: Trump promised to lower prices on ‘Day One,’ and instead drove costs through the roof. Working families are pinching pennies as they struggle to keep up with high prices of gas, groceries, and medicine — and Trump can’t be bothered to lift a finger to help them. In Trump’s economy, it’s billionaires and big corporations who reap the rewards of Trump’s presidency, while everyday Americans are left in the dust.”
