Trump says car prices, inflation falling fast in prime-time speech

In his first address to the nation on Wednesday, President Donald Trump described how former President Joe Biden’s economic policies following his term in office pulled America “from the brink of destruction.”

“Here at home, we are bringing our economy back from the brink of destruction,” Trump said Thursday. he said. “The last administration and their allies in Congress looted our Treasury of trillions of dollars, raising prices and everything else to levels never seen before. I’m bringing these high prices down, and I’m bringing them down very quickly.”

Trump said that under “Democrat rule” under the Biden administration, car prices have increased by at least 22 percent, gasoline has increased by 30 percent to 50 percent, hotel prices have increased by 37 percent and airline tickets have increased by 31 percent, and mortgage prices have increased by $15,000.

“Now under our leadership they’re all coming down and going down fast,” Trump continued. “Democratic politicians also caused food prices to skyrocket, but we’re fixing that, too.”

AS AMERICANS REPORT ECONOMIC STRAIGHT, TRUMP PREPARES TO ADDRESS THE NATION IN WHITE HOUSE PRIMETIME SPEECH

The president announced his prime-time speech Tuesday in which he focused on his administration’s economic messaging after Democrats focused on “affordability,” a winning campaign strategy, while criticizing Trump and Republicans for allegedly implementing policies that have worsened the housing crisis and increased costs at the coffers.

Following a series of high-profile elections in November that gave victories to Democrats who campaigned on the platform, Trump has ratcheted up tensions over how the Biden administration’s policies continue to plague the current economy.

Trump said at the beginning of his speech: “11 months ago I inherited a mess. And I’m fixing it. When I took office, inflation was the worst in 48 years. And some would say that caused prices to be higher than they had ever been in the history of our country, making life unaffordable for millions of Americans. This happened during a Democratic administration, and that’s when we first started hearing the word unaffordability.”

TRUMP PRESENTED ACHIEVEMENTS SINCE TAKING OFFICE AT PRIMETIME ADDRESS

Former President Joe Biden on Sunday, July 7, 2024, at Mt. He speaks at a church service at the Airy Church of God. (Manuel Balce Ceneta/Associated Press)

While costs have risen under the Biden administration, Trump has touted the savings Americans have achieved under his leadership.

“The price of a Thanksgiving turkey dropped 33% last year under Biden,” Trump said. “The price of eggs is down 82 percent since March, and everything else is falling fast. And it hasn’t been done yet. But are we making progress? Nobody can believe what’s happening.”

“Under Biden, real wages are down $3,000. Under Trump, we’re seeing a $1,300 wage increase for the typical factory worker. For construction workers, it’s $1,800. For miners, bringing back clean, beautiful coal is $3,300. And for the first time in years, wages are rising much faster than inflation.”

GAS PRICES ARE FALLING – SO WHY DON’T TRUMP FILL OIL RESERVES FASTER? WHO IS BLAMED FOR THE ‘DAMAGE’ OF THE BIDEN ERA?

President Donald Trump announced that US soldiers will receive “warrior dividends” in honor of the 250th anniversary of the founding of the country. (Doug Mills/The New York Times/AP)

Trump’s speech also included the announcement that “Warrior Dividends” will be distributed to all US military members in honor of the 250th anniversary of the founding of the United States in 1776.

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“We’re sending $1,776 to every soldier. Think about that,” he said. “And the checks are already on the way.”