Affordability could be GOP kryptonite

President Donald Trump and many Republicans swept back into power in 2024 due in large part to cost affordability, or rather, the lack thereof. Inflation exploded under the Biden administration to levels not seen in decades, and Democrats’ feckless responses and inability to painlessly tame it caused Americans to lose faith in them.

Beginning in 2021, the Biden administration first downplayed the risk of inflation, then claimed inflation was good, and after that, they said it was only transitory. When these approaches proved unfruitful, they blamed greedy companies and even Russian President Vladimir Putin. As basic staples became increasingly unaffordable, much of the electorate shunned the Biden White House.

This—among a number of other issues—helped usher Trump back to the presidency, but the Republicans’ failure to fully tackle nagging high prices and their bungled responses to them have undermined their support. November elections across the country have displayed these cracks. Independents and Latino voters are abandoning Republican candidates in droves, and Georgia Democrats flipped what had been considered a solidly Republican state house district. Cost affordability once took down Democrats; Now it could ultimately be the GOP’s kryptonite too.

“Grocery prices are down, mortgage rates are down, and inflation has been defeated,” Trump announced at a United Nations session. He later added that grocery prices are now “already at a much lower level than they were with the last administration.” Echoing his statements, Trump advisor Stephen Miller took to TV and explained, “[Trump has] brought down the price of household goods. He’s brought down the price of groceries. He has fought like a warrior to bring costs down.”

In that case, let’s unfurl a mission accomplished banner and celebrate. I am being facetious of course. Barely anyone believes this rosy view of the cost-of-living. A recent poll found that 75% of Americans believe that grocery prices are up, and in fact, most products are. Since Trump took office, annual inflation stands at around 3%. Put simply, inflation persists, despite head-scratching claims to the contrary, and high prices are weighing heavily on Americans.

“After nearly five years of high prices, many middle-class earners thought life would be more affordable by now,” according to the Wall Street Journal. “Costs for goods and services are 25% above where they were in 2020. Even though the inflation rate is below its recent 2022 high, certain essentials like coffee, ground beef and car repairs are up markedly this year.” A University of Michigan consumer sentiment survey found that only 23% claimed their financial situation was better than a year ago. 44% said they were worse off.

In fairness, presidents can only do so much to bring costs down, and the Trump administration has worked to ease some pressures on the private market, like curtailing unnecessary regulations. However, when Trump boasts that he has already conquered inflation and that it no longer exists, then that opens him up to criticism. Moreover, some of his central policies have doubtlessly hurt consumers.

Trump has championed tariffs on virtually every country, friend or foe, although foes have seemingly gotten off easier for whatever reason, but I digress. Faced with these increased costs, companies announced that they must raise prices in order to stay in business. Despite hearing over and over again about how great prices are, Americans have to balance a budget and put food on the table. They understand just how costly this is.

“Perpetual sticker shock is making many within the [middle class] feel worse about both their own finances and the future of the country,” the Wall Street Journal continued. “They are hunting for bargains and spending more carefully.” That may explain why sales are flagging at stores like Target but increasing at Wal-Mart.

Meanwhile, Trump has proposed sending most Americans $2,000 checks—ostensibly from the money earned from tariffs. First of all, the U.S. has not collected enough to give virtually every person a check of this size; a country that is some $38 trillion in debt cannot afford to do this; and if there is anything we learned from the COVID-era, it’s that printing money and lavishing it on consumers contributes to inflation.

The GOP risks losing their hard-fought gains in the same way that Democrats did. They are watching prices increase—thanks in part to some of their own policies—and claiming that there is nothing to see here. Everything is fine. The more logical approach is to eschew price-increasing policies, like burdensome tariffs and cash handouts, and show some humility: Explain that cost-of-living issues remain unsolved, and admit that some things are beyond the government’s control. Unless the GOP figures this out, it will be the Democrats’ turn to roar back into power.