Dec 6, 2025
President Donald Trump has said drug prices are falling by as much as 1,500 percent, a mathematical impossibility. He has declared himself “the affordability president,” while dismissing the affordability issue as “a con job by the Democrats.”
Trump also vows that good times are coming. He has predicted that gas prices, which now hover around $3 a gallon, will plummet to $2. He has promised Americans $2,000 refund checks from the revenue raised by tariffs. He has suggested that “in the not-too-distant future,” no one will have to pay income tax.
This flurry of sometimes extravagant claims comes amid a growing Republican fear, fueled by recent election results, that high prices could set the stage for a Democratic sweep in next year’s midterms. So far, there is little evidence that Trump’s urgent attempt to shift the economic storyline is working.
“Any Republican who refuses to admit we have an affordability problem is not listening to the American people,” former House speaker Newt Gingrich (R-Georgia) said. “It’s real because the American people think it’s real. I cannot overstate that — in a free country it’s the people who define what is real, not the politicians.”
Gingrich said Republicans need to quickly adopt an “affordability agenda” and argued that Trump should dedicate his next State of the Union address to the subject. “Psychologically, he hates to admit being in a hole,” Gingrich said. “His whole career is built around forcing the positive.”
Trump’s plight is a striking turnabout. In last year’s campaign, Trump scored political points by highlighting Americans’ inflation concerns, and President Joe Biden faced the almost impossible task of convincing voters they were not as bad off as they thought.
Strategists of both parties note that Trump — who has often seemed to defy the laws of politics — is struggling with the affordability issue as he has with few others.
The president shrugged off criticism after he accepted a luxury plane from a foreign country, pardoned unsavory figures and demolished a third of the White House, for example — episodes that might be devastating to another politician.
