The Unaffordable Presidency

President Donald Trump took the stage at the 2024 Republican National Convention in Dallas, Texas, where his party’s enthusiasm had clearly waned since the last election cycle. In an effort to energize voters and retain control of Congress, Trump delivered a meandering speech that hit on all his signature topics: immigration, crime, taxes, and transgender athletes.

However, several crucial issues that voters care most about were noticeably absent from the convention. The cost of housing, food, and consumer goods, for instance, received scant attention from Trump. He made no mention of inflation or rent, and his brief comment on grocery costs was quickly followed by a false claim that prices were rapidly decreasing.

This omission is striking, given the reality on the ground. Consumer prices have risen at their fastest rate in years, with most goods costing more now than they did at the start of Trump’s second term. Instead of addressing these pressing concerns, Trump blamed green-energy policies and Democrats for rising prices, dismissing them as “fake.”

The disconnect between Trump’s rhetoric and voters’ economic anxieties is jarring. It suggests that despite his bravado and bombast, the President may not be attuned to the needs of ordinary Americans.

One possible explanation for this disconnect lies in Trump’s own priorities – specifically, his preoccupation with how history will remember him and his administration. According to White House officials and those close to Trump, his approach to affordability reflects a personal concern: ensuring that his legacy is cemented in American history.

However, this fixation on legacy has a self-defeating quality. If the cost of living continues to rise, driven in part by Trump’s own policies – such as the Iran war – and costs Republicans control of Congress, then he may ultimately sacrifice his ambitions for a lasting impact on the country.

The absence of affordability from Trump’s agenda is not an isolated incident. Throughout his presidency, he has shown indifference to the economic struggles faced by ordinary Americans. He famously declared during his first presidential campaign that he could “stand in the middle of Fifth Avenue and shoot somebody” without losing supporters – a sentiment echoed repeatedly throughout his time in office.

This disconnect between Trump’s rhetoric and reality raises fundamental questions about the relationship between politics and economics. When politicians prioritize their own legacies over the well-being of their constituents, it can have far-reaching consequences for the country as a whole.

As we look ahead to the November midterms, one thing is clear: Trump’s approach to affordability will not be enough to energize Republican voters or address the pressing concerns faced by ordinary Americans. If his party loses control of Congress, it will be a stark reminder that politics is about making difficult decisions that impact people’s lives.

Historian Julian Zelizer has observed, “When the president goes down in the history books, it’s not going to be for eggs being a dollar a carton.” This assessment may ultimately prove prophetic.