Trump uses White House address to insist he has the economy humming

In a wide-ranging address to the nation from the White House on Wednesday night, President Donald Trump sought to tout the wins of his time back in office while also blaming Democrats for problems that continue to plague the country under his administration — especially the cost-of-living crisis. 

The president teased one-time bonuses for members of the military and vague plans around housing and health care as he at times breathlessly raced through other favorite themes.

“Eleven months ago I inherited a mess and I’m fixing it,” Trump said from behind a lectern, his voice quickly rising at the start of a roughly 20-minute speech that amounted to a remarkable display of defiance of public opinion.

Polling has repeatedly shown the president facing disapproval from a majority of Americans, especially on the economy. A new PBS News/NPR/Marist poll released Wednesday found that Trump’s approval rating on the economy is at its lowest point ever — 36% — and more than 60% of Americans say the economy is not working well for them. 

Instead of acknowledging those sentiments, Trump painted a picture of an administration achieving what he repeatedly called historic successes and characterized persistent challenges as leftover struggles of the Biden administration. 

“We’re bringing our economy back from the brink of ruin,” he said. 

Trump touted real drops in the prices of eggs, Thanksgiving turkeys and gasoline, as well as cost-cutting deals he made with prescription drug companies. Other claims, though, were inflated, lacking context or unsupported by evidence. 

For example, Trump said gasoline “is now under $2.50 a gallon in much of the country” — but the average price nationally as of Wednesday was $2.91 a gallon, according to AAA.

He also claimed “inflation has stopped,” and on Thursday morning, the Bureau of Labor Statistics seemed to support the idea that inflation has at least slowed, releasing a delayed Consumer Price Index report concluding it rose 2.7% in November compared to a year earlier, down from 3% in September. That November figure was lower than expected, but the bureau noted that it had no data from October and only the back half of November due to the government shutdown. That, economists warned, means Black Friday sales could have pulled the overall inflation figure down.

Much like Vice President JD Vance during his own speech on the economy Tuesday in Pennsylvania, Trump urged Americans to stay patient, pledging they would see more cash “in your wallets and bank accounts in the new year” thanks to both tariffs and the “Big Beautiful Bill.”

But the reality is more complex. Trump’s tariffs have cut into profits and have caused financial difficulty for both producers, who have raised prices to offset the impact of tariffs, and consumers, who have paid more for goods as a result. A Yale Budget Lab analysis estimated tariffs will cost average households $1,700.

Since his initial “Liberation Day” announcement of massive tariffs back in April, the inflation rate has climbed from 2.3% to 3%. Food prices are also up, and were 3.2% higher this August compared to a year before. 

When it comes to the “Big Beautiful Bill,” Trump pledged it will lead to “the largest tax cuts in American history.” But experts have said that the refunds will not impact all families equally, and the “Big Beautiful Bill” enacted historic cuts to both Medicaid and the Supplemental Nutrition Assistance Program, which many low-income families rely on to afford health care and groceries.

Trump also mentioned a housing policy announcement to come in the new year that echoed arguments Vance has made, alleging that undocumented immigrants are responsible for rising housing costs. 

“A major factor in driving up housing costs was the colossal border invasion,” Trump said. 

Economists and housing experts reject that notion, pointing instead to housing shortages and elevated mortgage rates as the primary drivers of rising costs. Some have also warned that mass deportations could worsen the problem by further delaying the construction of new homes, given the crucial role immigrants play in the construction industry. 

Trump also derided the Affordable Care Act but did not directly acknowledge looming spikes in health insurance premiums for enrollees. With Congress failing to extend Affordable Care Act subsidies before departing for the holiday recess, enrollees’ monthly premiums are expected to increase by more than 100%, to an average of $1,900, according to the health policy organization KFF. 

“It’s their fault. It is not the Republicans’ fault. It’s Democrats’ fault!” he asserted, attempting to counter a likely 2026 campaign plank from the opposing party, which forced the recent government shutdown when Republicans refused to extend the expiring subsidies.

The closest Trump got to actually putting more money in Americans’ pockets was the announcement of what he called a “warrior dividend” of $1,776 — “in honor of our nation’s founding in 1776,” he said — to be paid out to more than 1.45 million service members. 

“The checks are already on the way,” he said. 

Apart from the economy, Trump also sought to cast himself as restoring law and order — without acknowledging that, on his first day back in office, he pardoned 1,500 people who stormed the Capitol on Jan. 6, 2021, including people who inflicted violence on police officers.

“For the last four years, the United States was ruled by politicians who fought only for insiders, illegal aliens, career criminals, corporate lobbyists, prisoners, terrorists and above all foreign nations which took advantage of us at levels never seen before,” he said.

Trump did not directly reference U.S. forces’ repeated attacks on small boats the administration claims are ferrying drugs from Venezuela — preemptive strikes that have killed dozens, called Defense Secretary Pete Hegseth’s job security into question and driven a wedge between the U.S. and some key allies.

But barely half an hour before Trump began speaking, U.S. Southern Command announced it had taken out another boat, killing four people.

Trump claimed his administration has “decimated the bloodthirsty foreign drug cartels” that were “poisoning and destroying our population.”

Yet just this month, Trump abruptly pardoned ex-Honduran President Juan Orlando Hernández, who was serving a 45-year sentence for working with cartels to traffic hundreds of tons of cocaine to the U.S.

Beyond the elements of revisionist history, Trump sprinkled his speech about his first year back in office with promises that America will finally be great again — soon.

“When the world looks at us next year,” Trump concluded, “let them see a nation that is loyal to its citizens, faithful to its workers, confident to its identity, certain to its destiny and the envy of the entire globe.”

Sydney Carruth contributed to this report.