URGENT UPDATE: President Donald Trump has pivoted to an ‘affordability’ message in response to significant Republican losses in the recent elections. Following a devastating drop for GOP candidates from Virginia to California, Trump is attempting to co-opt the successful messaging that propelled Zohran Mamdani, a democratic socialist, to victory as New York City’s next mayor.
In a surprising turn, Trump, who had never mentioned ‘affordability’ during his decade-long presence on social media, claimed on November 2, 2023, that Democrats’ focus on affordability was detrimental to them. “They have this new word called affordability,” he stated, suggesting Republicans have failed to address it. He asserted, “2025 Thanksgiving dinner under Trump is 25% lower than 2024 Thanksgiving dinner under Biden, according to Walmart,” despite data contradicting his claims.
Trump’s recent statements about affordability come on the heels of a wave of victories for Democrats, as they dominated critical races nationwide. With inflation and the cost of living as key voter concerns, Trump’s shift aims to reclaim support from those disillusioned with rising expenses under his watch.
However, his rhetoric clashes with reality, as inflation remains high. The most recent data shows a 2.9% yearly inflation rate as of August 2023. Under Trump’s administration, energy prices have surged by 10%, and the average gas price currently exceeds $3 per gallon, contrary to his claims of nearing $2.
Trump’s affordability claims are further undermined by the ongoing government shutdown, which has led to rising health insurance premiums for over 22 million Americans, as critical subsidies are at risk. If negotiations fail, premiums could more than double by 2026, according to the Kaiser Family Foundation (KFF).
Moreover, the Trump administration’s policies have negatively impacted food assistance for 42 million Americans eligible for the Supplemental Nutritional Assistance Program (SNAP). Proposed cuts could reduce benefits for average recipients by 61%, affecting millions as the enrollment period for next year approaches.
As Trump struggles to regain ground, his approval rating has plummeted to just 39%, with disapproval at 58%. This decline is particularly acute regarding prices and inflation. Economic journalist Matt Stoller noted, “Trump could theoretically fix his political problems… But there’s zero chance he does that. He can’t.”
Mamdani, stepping into his new role, aims to tackle New York’s cost of living with bold proposals such as a freeze on rent hikes and free public transit. In contrast, Trump’s policies have exacerbated housing costs, with tariffs raising the prices of building materials and slowing construction.
As the situation evolves, Trump’s shift towards ‘affordability’ rhetoric may not be enough to counteract the growing sentiment against his administration’s handling of economic issues. Observers are left wondering if this newfound focus can translate into tangible support as the 2024 election approaches.
Stay tuned for more developments as the political landscape shifts in response to these urgent economic concerns.
