A Wall Street Journal opinion columnist is blasting President Donald Trump’s policies and remarks, warning that the affordability issue “could sink” his presidency.
Trump is underwater on his handling of inflation, and will deliver a speech in Pennsylvania on Tuesday evening that the White House says will be “a positive economic, a focused speech, where he talks about all that he and his team has done to provide bigger paychecks and lower prices for the American people.”
But columnist William A. Galston says “there’s a problem: Mr. Trump isn’t buying it. He has denounced the focus on affordability as a Democratic ‘con job,’ a ‘scam’ and a ‘hoax.'”
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“Starting the day I take the oath of office,” Trump told voters last year on the campaign trail, “I will rapidly drive prices down, and we will make America affordable again.”
Galston noted: “The American people were listening, and they expect Mr. Trump to honor his promises. Right now, they couldn’t be blamed for thinking he isn’t even trying.”
And he blasted the president for ignoring the situation.
“’The reason I don’t want to talk about affordability is because everybody knows it is far less expensive under Trump than it was under sleepy Joe Biden,’ he said at a recent White House event. In other words: Keep moving, folks, nothing to see here.”
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Galston noted that economist Stephen Moore, an outside Trump adviser, “says that the president’s low standing on the affordability issue is a ‘messaging problem.’ It isn’t; it’s a reality problem.”
Americans know the problem when they see that some items “are especially unaffordable,” Galston added.
He pointed out that the cost of shelter — rents and mortgage — are up 3.6% over the past year.
Home insurance premiums, he said, are expected to rise 8%. Electricity is up 11% since January, the month Trump took office.
By “rescinding duties on some agricultural goods last month, including beef, bananas and coffee, Mr. Trump tacitly conceded that tariffs put upward pressure on prices,” Galston wrote, adding that removing those tariffs is not enough.
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