- Trump addresses 2025 achievements amid low approval ratings.
- Poll shows only 33% approve of Trump’s economic management.
- The speech could tout policies coming next year.
In a rare evening speech at the White House, US President Donald Trump on Wednesday boasted of his achievements and blamed his Democratic predecessor for soaring consumer prices as his party prepares for tough midterm elections next year.
“Eleven months ago, I inherited a mess and I’m fixing it,” Trump said in a speech that lasted less than 20 minutes and was delivered at a rapid pace.
The Republican president, who regularly complains about not being recognized for his accomplishments, has proposed few new policy initiatives to address the high costs. Instead, he blamed former President Joe Biden, previous trade deals, immigrants and what he described as a corrupt system.
The Republican president, who regularly complains about not being recognized for his accomplishments, touted his administration’s work this year on a range of issues ranging from reducing border crossings to lowering the prices of certain products.
Trump announced that his administration would send a “warrior dividend” of $1,776 to 1.45 million U.S. service members in the coming week. He also supported a Republican proposal to send money directly to the public to offset the cost of health insurance rather than providing subsidies through the Affordable Care Act, a proposal that has yet to receive enough support in Congress.
“I want the money to go directly to people so they can buy their own health care,” Trump said, the room behind him adorned with holiday decor. “The only losers will be the insurance companies.”
Trump gets poor marks on the economy
The speech was an opportunity for the president to address public concerns about affordability, an issue that Trump, a Republican, has repeatedly called a Democratic hoax. On Wednesday, while placing blame on Biden’s presidency, Trump acknowledged that prices remained high while asserting that the country was “ready” for an economic boom.
“I’m bringing those high prices down and bringing them down very quickly,” he said.
Trump’s Republicans are seeking to retain control of the House and Senate in next year’s November elections, while Democrats are highlighting affordability concerns and differences over health policy to try to seize power.
High inflation during Biden’s four years in office helped Trump beat former Vice President Kamala Harris in last year’s election. But Trump’s tariff policies this year have created uncertainty and driven up prices in an economy that has now been overseen by his administration for nearly a year — and Trump, like Biden before him, is struggling to persuade Americans that the economy is healthy.
A new Reuters/Ipsos poll released Tuesday shows that only 33% of American adults approve of Trump’s handling of the economy.
Trump’s remarks took place in the White House Diplomatic Reception Room and not in the Oval Office as presidential speeches often do.
“The hottest country in the world”
In his speech, Trump said he has attracted $18 trillion in investments that will create jobs and open factories. He attributes his pricing policy as a determining factor: “A year ago, our country was dead… Today, we are the hottest country in the world.”
He also said he would soon announce the next Federal Reserve chairman, “someone who believes in lowering interest rates significantly and lowering mortgage payments even further.”
The speech came just a day before a closely watched inflation update from the Bureau of Labor Statistics.
After hitting a four-year low of 2.3% in April, just three months into Trump’s second term, annual inflation has since risen.
In September — the latest data available due to disruptions in reporting caused by the record government shutdown — the consumer price index rose 3.0% year over year, the highest since January and higher than at any time during Trump’s first term.
Yet the inflationary impact of Trump’s tariffs has not been as great as many economists predicted early in his term, with the cost of import taxes spread among foreign producers, importers of goods and end users, including consumers.
Before the speech, the Senate’s top Democrat, Chuck Schumer of New York, claimed that Trump had failed to keep his campaign promises.
“He promised he would cut costs from day one. That was his number one promise. That’s the main reason he won the election. And the costs are getting higher and higher,” Schumer said at a news conference on Capitol Hill.
