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

President Donald Trump rattled off how his economic policies have pulled America from “the brink of ruin” following former President Joe Biden’s tenure during his primetime address to the nation on Wednesday. 

“Here at home, we’re bringing our economy back from the brink of ruin,” Trump said Thursday. “The last administration and their allies in Congress looted our Treasury for trillions of dollars, driving up prices and everything at levels never seen before. I am bringing those high prices down and bringing them down very fast.” 

Trump said that under the Biden administration, car prices rose by at least 22%, gasoline rose 30% to 50%, hotel rates by 37% and airfares by 31%, and mortgage prices up $15,000 under “Democrat rule.”

“Now, under our leadership, they are all coming down and coming down fast,'” Trump continued. “Democrat politicians also sent the cost of groceries soaring, but we are solving that too.”  

TRUMP SET TO ADDRESS THE NATION IN PRIMETIME WHITE HOUSE SPEECH AS AMERICANS REPORT ECONOMIC SQUEEZE

The president announced his primetime address Tuesday as his administration zeroes in on its economic messaging following Democrats latching onto a winning campaign strategy of “affordability” while slamming Trump and Republicans for allegedly rolling out policies that have caused the housing crisis to worsen and costs at the checkout lines to rise. 

Following a handful of high-profile elections in November handing wins to Democrats who campaigned on the platform, Trump has turned up the heat that Biden administration policies continue to haunt the current economy. 

“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 in the history of our country, which caused prices to be higher than ever before, making life unaffordable for millions and millions of Americans. This happened during a Democrat administration, and it’s when we first began hearing the word affordability,” Trump said at the start of his speech. 

TRUMP TO TOUT ACCOMPLISHMENTS SINCE TAKING OFFICE IN PRIMETIME ADDRESS

While costs rose under Biden, Trump touted the savings Americans are seeing under his leadership. 

“The price of a Thanksgiving turkey was down 33% compared to the Biden last year,” Trump said. “The price of eggs is down 82% since March, and everything else is falling rapidly. And it’s not done yet. But boy, are we making progress. Nobody can believe what’s going on.” 

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

GAS PRICES ARE FALLING — SO WHY ISN’T TRUMP REFILLING THE OIL RESERVE FASTER? WH BLAMES BIDEN-ERA ‘DAMAGE’

Trump’s address included announcing the rollout of “Warrior Dividends” to all U.S. military members in honor of the 250th anniversary of the U.S.’ founding in 1776. 

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