President Donald Trump delivered a forceful economic message that sharply contrasted his administration’s record with that of the Biden era, arguing that his policies are driving down costs and raising wages for working Americans.
Trump pointed to what he described as an unprecedented surge in economic activity, citing roughly $18 trillion in investment tied to jobs, wage growth, factory construction, and national security–related industries. He said the gains reflect a shift toward private-sector–led growth rather than government expansion.
Trump criticized the Biden administration for sharp price increases across major household expenses, saying vehicle prices rose by more than 20 percent, gasoline jumped between 30 and 50 percent in many states, hotel rates climbed 37 percent, and airfare increased more than 30 percent. He argued that those trends have now reversed under his leadership, claiming prices across multiple categories are falling.
According to Trump, food costs are also easing. He said the price of a Thanksgiving turkey dropped by roughly a third compared to the previous year, while egg prices have fallen sharply since the spring. Trump acknowledged inflation pressures are not fully resolved but said progress is accelerating.
The president also emphasized wage growth, contrasting what he described as a $3,000 decline in real wages under Biden with gains during his term. Trump said factory workers have seen average wage increases of about $1,300, construction workers around $1,800, and miners approximately $3,300, adding that wages are now rising faster than inflation.
Trump further highlighted that all net job growth during his presidency has occurred in the private sector, not government, calling that distinction essential to long-term economic strength.
“It’s not done yet,” Trump said, “but we are making real progress,” framing his economic agenda as a return to affordability, rising paychecks, and private-sector growth.
