On Tuesday Evening, President Donald Trump traveled to Mount Pocono, Pennsylvania, to deliver remarks on the economy.
President Trump began his remarks by wishing the crowd a Merry Christmas.
He touted the notable decrease in gas prices since he took office.
He also emphasized the progress on wages:
And on groceries:
President Trump also emphasized how he wants to approach (and improve) health insurance.
In conjunction with the speech, the White House issued a statement highlighting the progress made in terms of lowering costs since Trump (re)took office 10 months ago — and promising more relief to come:
Since taking office, President Donald J. Trump has made substantial progress reversing the inflation and cost-of-living disaster he inherited from the recklessness of the Biden Administration. Inflation has been cut by more than half, gas prices have fallen sharply, real wages are growing again, and key household expenses are finally heading in the right direction.
But President Trump is also clear: there is still important work ahead to ensure every American feels the full benefit of lower costs. While Democrats attempt to con Americans into believing they’re the champions of affordability, the reality is that Democrats created the problem — and President Trump is stopping at nothing to fix it.
The statement detailed the progress made on a number of economic fronts, including:
Inflation:
- Under Biden, inflation averaged nearly 5% and hit 9.1% amid the worst inflation crisis in decades — fueled by the Radical Left’s obsession with spending.
- In President Trump’s second term, inflation has dropped to an average of just 2.7% — the critical first step in reversing Democrats’ cost-of-living disaster. In fact, under President Trump, Americans have even seen the first overall price decline since 2020.
Wages:
- Under Biden, Americans workers lost over $2,900 in purchasing power because inflation rose faster than wages.
- In President Trump’s second term — even after accounting for higher prices — Americans’ real wages have grown by nearly 4% — or nearly $700 — and are on track to grow by nearly $1,200 after his first full year in office.
Gas Prices:
- Under Biden, gas prices were the highest they had ever been — even after he drained our strategic reserves to artificially decrease prices.
- In President Trump’s second term, gas prices have fallen to the lowest average price in 1,682 days and Americans on track to spend the lowest amount of their disposable income on gas in the last two decades. In fact, average gas prices have dipped below $3 per gallon in 36 states, below $2.75 per gallon in 20 states, and below $2.50 per gallon in five states — with prices below $2 per gallon at some stations in at least four states.
It also detailed progress on housing costs and groceries, and noted other economic wins like the tax cuts included in the One Big Beautiful Bill, deregulation, investment in the U.S., and deficit reduction.
The statement concluded with this:
The Trump Administration will not rest until the high prices that resulted from Democrat policies are fully reined in. We’re making progress — and the best is yet to come.
If “affordability” is the 2025 version of James Carville’s “It’s the economy, stupid,” President Trump and his administration are dialed in on making sure it’s a message that becomes a winning one for the president and for Republicans — for Americans — as we head into the midterms.
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