The US economy isn’t in the best place right now, but President Donald Trump said his administration is slowly getting the country back on its feet after the ‘Biden era missteps.’ Trump is in Mount Pocono, Pennsylvania, where he spoke directly to people about the economy at a time when families are struggling with rising prices.
Even though he claimed he has “almost defeated inflation,” people across the country are still feeling the pinch. Recent surveys showed consumer confidence dipping, and Democrats are seizing the moment to blame Trump’s tariffs and other policies affecting prices.
Trump, however, claimed that Democrats are exaggerating affordability issues, calling it a “hoax,” and claimed he’s fixing what he sees as an economic mess left behind by Joe Biden.
Trump’s economy speech in Pennsylvania
Trump tries to sell a strong economy
Speaking to more than a thousand supporters in a crowded ballroom, Trump said he’s the one behind “lower prices” and “bigger paychecks.” Trump pointed to the rising markets as proof, telling the crowd, “The only thing that is truly going up big it’s called the stock market and your 401(k)s.”
Trump spent much of his 90-minute speech switching between the economy, the border and even foreign conflicts he claimed to have ended. But when he did return to prices, he admitted they needed to come down. “I can’t say ‘affordability hoax,’ because I agree the prices were too high,” he said, adding that Democrats keep leaning on one word, “affordability.”
He insisted his policies are already working, adding, “Ours are decreasing, and they’re moving down.” Trump also praised Treasury Secretary Scott Bessent, calling him “central casting,” “very handsome,” and even “our saviour,” before adding, “Under that beautiful exterior is a killer.”
Trump on ‘no tax on tips and overtime’ plan
During his speech, Trump promoted his efforts to remove taxes on tips and extra work hours. He invited two people from the crowd, a Marine Corps veteran who worked more than 400 hours of overtime, and a mother who homeschools her kids. Both said the policy would give their families a real financial boost. “The no tax on tips is incredible. No tax on overtime is incredible for my husband,” the woman said, according to CNN’s coverage. “It all comes back to our family. It saves us, and it’s for the future of our children.”Trump said the goal is to let workers keep more of what they earn.
Trump announces new investment account for newborn
Trump said his administration is creating an account for every newborn in the country. Each child would start with $1,000, and family and friends could add money every year. He described it as “a trust fund for every American child,” planned to grow over time and give kids a financial head start. “Friends, family, employers and loved ones will be able to add thousands of dollars a year, and it’s like a trust fund for every American child. It’s going to be something, and it’s really exciting,” he said.
Trump blames Biden for high prices—again
Although the speech was supposed to focus on affordability, Trump spent a good part of the evening blasting Joe Biden. He claimed Biden’s decisions caused prices to spike. “Democrats are like ‘prices are too high.’ Yeah, they’re too high because they cause them to be too high. But now they’re coming down,” Trump told the crowd.
He also mocked Biden’s use of an autopen and suggested that some of Biden’s Federal Reserve appointees may not have been properly authorised. Trump earlier said he is terminating all of Biden’s executive orders signed by autopen, including Presidential pardons. “I just heard that all four commissioners, including ‘Too Late’… I hear that the autopen may have signed those commissioners,” Trump told the crowd in PA. “If they signed those commissioners… I think it’s something we have to look into. You put people there that are not authorised to be there.”
Trump defends tariffs
Trump opened by praising his tariff policy, saying it brought in “hundreds of billions” and convinced companies to build new plants in states like Pennsylvania. Calling ‘Tariffs’ is the favourite word, he added, “You’re going to see what happens over the next two years,” Trump said. “It’s like a miracle is taking place.”
Trump also claimed that his administration’s recently announced $12 billion aid package for farmers, which was paid with tariff revenue.