It’s Affordability, Stupid?

Victor Davis Hanson
American Greatness

The recent Democratic cry of “affordability” is ironic in many ways.

The left-wing narrative of Trump hyperinflation was one of desperation and came only after previous memes had failed to resonate.

The 2025 generic “dictator,” “fascist,” and “Nazi” smear points never helped the left much.

Nor did the nihilist government shutdown over the “Obamacare crisis” work other than perhaps to depress fourth-quarter GDP.

Nor did the earlier spring 2025 melodramatic predictions of an impending “Trade War,” “Recession,” and stock-market “Meltdown resonate.”

Nor did the “Gestapo,” “SS,” and “Nazi” ICE smears become effective talking points.

The “illegal orders” and “unconstitutional use of force” in destroying narcotraffickers’ shipments in transit of lethal drugs were mostly empty rhetoric.

Then the Democrats got smart and remembered how Trump had won in 2024.

He ran and triumphed on pointing out that gasoline had gone sky-high under Biden, who drained the Strategic Petroleum Reserve, put federal oil and gas lands off-limits, and wasted hundreds of billions on green subsidies.

Biden entered office with Trump’s national gas average of $2.39 a gallon and promptly doubled it to $5—until it settled down to a four-year average of $3.35-40 a gallon. That was roughly 35-40 cents higher than the present $3.00 Trump national average.

Biden’s four-year inflation had cumulatively hit 21.5% and it climbed much higher when staples like key foods, insurance, housing, energy, cars, etc., were tabulated separately.

Trump thundered that he had left Biden with a 2020 near-historically low 1.2-4% inflation rate—and then Biden’s four years had more than quadrupled it to an average of 5.2% per year.

In any case, in the 2024 campaign, the case was made that Biden had added $8 trillion to the national debt while making staples unaffordable to the middle class. Trump easily won on that economics/affordability issue.

The affordability case was seemingly closed, given that the Democrats never had an answer for Biden’s misery indices and thus turned to the other smears mentioned above.

But then a funny thing happened.

Trump had entered office with a monthly inflation rate of 3%. but did not somehow immediately lower it. And the rate remains. After ten months of Trump’s tenure, it was still at the same 3%.

Yet suddenly, the left cried, “Affordability!”

Apparently, Trump was culpable because in months he had yet to undo all the damage Biden had inflicted over four years, despite the fact that Trump’s inflation was already 2.2 points less than the Biden four-year yearly average—and headed downward.

But the public was exhausted by high prices and wanted Trump not just to lower dramatically the average Biden inflation rate but also to reduce the Biden 21.5 aggregate inflation and to do so immediately.

The Trump team did not believe anyone would believe this yarn for a number of reasons.

One, no one could credibly believe that the party responsible for hyperinflation could dare to blame its successor for not immediately, in ten months, cleaning up the mess that Democrats had wrought over four years.

Two, Trump had enacted a series of dramatic initiatives that may soon not only lower inflation but could create a veritable boom from some $10 trillion in promised foreign investment. More deregulation, extended tax cuts, and additional reductions are in the big beautiful bill.

The administration has been fast-tracking new federal fossil fuel leasing, pipeline construction, and incentives for greater production of oil and gas, and massive natural gas exports. The borders are closed. Two million illegal aliens have left the U.S., lessening social welfare costs and increasing labor opportunities for U.S. citizens.

By year’s end, some $200-300 billion in 2025 tariff revenue will be collected, coupled with increased domestic opportunities for U.S. business expansion.

So, apparently, the Trump administration thought that the public was aware that mid- to long-term remedies were underway that would fuel the economy in mid-2025. Thus, did they assume “affordability” was not yet really an issue and needed little explanation, given the good news to come was already self-evident?

Or, they were so consumed with foreign affairs—and indeed, dramatic successes abroad—that they thought such good news would naturally become force multipliers of the implicitly bright economic forecasts.

Indeed, efforts to end the Ukraine war, the elimination of the immediate threat of an Iranian nuclear bomb, and a ceasefire in the Middle East were in sharp contrast to the prior four years, when two theater wars broke out on Biden’s watch after the disastrous misadventure in Kabul.

Finally, all Israeli hostages who were still alive returned. Hamas, Hezbollah, the Houthis, and Iran’s military have all suffered terrible damage.

Each month, there seems to be a new announcement of more favorable trade agreements with major commercial partners. Once dismal military recruitment is now at a historic high. There is not a reduction but a veritable end of all illegal immigration.

Trump tried to fashion cease-fires in wars all over the world: the Congo-Rwanda, India-Pakistan, Cambodia-Thailand, Azerbaijan-Armenia, and Ethiopia-Egypt.

So why did Trump people not see the left gaining some traction on the affordability issue? The administration has so far not fully absorbed three realities.

One, their likely successful economic stimuli and reforms will not kick in fully until mid-2026. So they needed to argue for a little more patience or to explain in detail exactly how, why, and when the economy will correct the Biden catastrophe.

Two, they did not pound home enough the difference between Trump’s economic legacy in 2020, the ensuing Biden four-year failure, and now his own ten-month new efforts to build upon what he had once accomplished.

Third, even foreign successes, ironically, can detract from the economy. True, good coverage of a Trump ascendant abroad helped him at home. But when the economy is demagogued as “unaffordable,” Trump’s attention overseas is used as proof that he doesn’t care about those at home.

In other words, in an election cycle, a presidential Nobel Peace Prize is worth less than a one percent inflation rate.

There is a year left before the midterms. If the Democrats win the House, they will stall the entire Trump agenda. They will impeach him in their first month. And they will subpoena and wage lawfare against all major Trump appointees in hopes of either bankrupting them or putting them in jail.

Obviously, to continue the MAGA counter-revolution, all emphasis should be on the economy. Every policy initiative should be discussed in terms of its economic utility, from ending illegal immigration to recording oil pumping to foreign investment.

Detail matters. Trashing Biden is far less effective than comparing the actual data of his four-year averages with Trump’s own first-term stats so far: gas prices, the inflation rate, illegal entries, deportations, foreign investment, and other economic indicators.

Foreign policy must be presented in domestic and preferably economic terms: blowing up a narco-trafficking boat saves thousands of lives.

Providing NATO leadership offers leverage with the far more hostile EU—as in “decide whether as Europe-NATO you wish for an American presence, or as Europe-EU you do not like us and wish us gone—but not both.”

What is the dollar effect of deportation on job growth and higher wages for Americans, or on vastly reduced entitlement costs?

In sum, the economy is already better than Biden’s yearly averages. Events are in play that will create substantial national wealth soon, which will make the middle class better off. And successes abroad translate to an enhanced economy at home.

But all that in a unified fashion has to be hammered home rather than assumed.

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26 thoughts on “It’s Affordability, Stupid?”

  1. thebaron@enter.net

    I like to paraphrase Reese from “The Terminator” when describing Leftists:

    “They can’t be bargained with. They can’t be reasoned with. They don’t feel pity, or remorse, or fear. And they absolutely will not stop, ever!”

  2. To me it is utterly amazing in spite of the enormous contrast between the pro American effectiveness of the Trump policies vs. the Biden policies, the main stream-media is still desperate to sabotage the Trump Administration in any way it possibly can. Why do they hate this country so?

    As for Trump’s comments on the tragic deaths of the Reiner’s, I do not have a problem with what he said, only with what he did not say. As it stands, he sounded ambivalent as to what happened to them. I ask why he could not have added that he “does not wish such a death on anyone. It is very, very tragic, and sounds linked to their son’s long-standing drug addiction? It is for this reason that I am so focused on drug interdiction into this country, vis-a-vis the Venuzuela drug boats”?

    Lastly, I agree that the Trump administration must use their remaining time before the mid-terms to pound home their domestic successes. It is truly amazing to me that the American people would need this so as not to blame Biden’s failures upon Trump, but they do. To lose the Republican control of the House in the Midterms would be truly TRAGIC for America!

  3. Since the MSM (main street media) won’t give Trump positive coverage, he needs to take to the airwaves every week and address the nation and discuss the economy and what his policies are achieving. He should talk directly to the American people and make his case regarding deportations, tax cuts, sending national guard into blue cities, increased oil production, tariffs, etc..etc.. Like Churchill or FDR in crisis times, use the pulpit and use his inherent communication skills to argue the merits of his policies. The best defense is a strong offense.

  4. “If the Democrats win the House, they will stall the entire Trump agenda…impeach him… subpoena and wage lawfare against all major Trump appointees… either bankrupting them or putting them in jail.”

    But of course. They will. They will. They will. They will. They will. They will. And they will.

  5. You would not post my civil comment. Your action affirms two things: A. you do not believe in reasoned dialogue and freedom of speech; B. you have validated my decision NOT to renew my original subscription to the Blade of Perseus. Wonderful to elicit an empirical example of Victor’s clear hypocrisy.

  6. Victor,

    I hope you are reaching out directly to the White House. They need your counsel. President Trump needs to rein it in with regard to his unnecessary personal insults of fellow Republicans as well as his threats of primarying them. They are so juvenile and offputting to too many. He is losing votes everyday he does this. His remarks about Rob Reiner and his wife’s murders are ammunition for the Left. Empirical evidence and comparisons, yes, is what needs to calmly come out of his and his administations mouth. It is overwhelmingly convincing. There is too much at stake for him to jabber on and on. Why can’t he get this? We all know why, and it is scary. Please help them.

  7. Do not underestimate the Left’s ability to pivot in Orwellian style to an opposite view of anything. Ukraine went from corrupt kleptocracy to democratic citadel on a dime. Indeed Zelensky went from comic to Churchill as Churchill moved from colonialist to hero on the left.
    Sadly, people have short attention spans.

  8. Do not underestimate the Left’s ability to pivot in Orwellian style to an opposite view of anything. Ukraine went from corrupt kleptocracy on a dime. Indeed Zelensky went from comic to Churchill as Churchill moved from colonialist to hero on the left.
    Sadly, people have short attention spans.

  9. The intelligence and common sense of U.S. voters always amazes me because of the LACK of those two things. Obama-Biden took years to put our country on a collision course with disaster and now the public expects Trump to fix all of that, make food and gas cheap, and do it in less than a year! They don’t get the reality that allowing millions of illegals to cross the border under Biden is ruining the country and that deporting those people is like trying to put toothpaste back into the tube, especially when you have liberal left judges doing their best to keep those illegal aliens from being deported! People don’t understand that screwing things up is a lot easier than trying to fix them!

  10. I miss the happy motoring of $2 gas during Trump’s first term.
    That was before printing press gone wild during the COV-LARP.
    Going to the grocery is like shopping at Macys now.
    Isn’t that odd how president’s control all prices when it is republican but not their fault when a CPUSA (D) esteemed party member is preezy of the steezy.

  11. Stop playing the Democrats “affordability” narrative and stop using their nonsense word. Call it what it is: an expensive tax that Americans can’t afford. Whenever Democrats say “affordable” they mean “tax.” The “Affordable” Care Act was a massive tax on Americans to pay for healthcare for others. The money to pay for it doesn’t come from thin air, it comes from our taxes. And if it isn’t paid for with a direct tax, it’s paid for by government-generated inflation from deficit spending, which is—wait for it—a tax on everyone, hitting the poorest the most. Increasing “affordability” only happens by increasing prosperity or reducing regulations to let private industry do what it does best: compete for customers and improve efficiency to lower costs. Government does the opposite. It decreases efficiency by hampering productive processes which increases costs.

  12. In the “affordability” discussion I’ve yet to see any analysis of how much “unaffordability” is created not by the federal government, but by the states — as it happens, mostly blue ones; see, especially the elite coasts. California. New York. Massachusetts. And others. How much affordability would be gifted to these states’ citizens absent absurdly high gasoline taxes, sales taxes, property taxes, energy costs, regulatory costs, environmental mandates, etc. etc. Why are these very real state-based cost inputs never discussed in the context of this amorphous term “unaffordability.”

  13. “But the public was exhausted by high prices and wanted Trump not just to lower dramatically the average Biden inflation rate but also to reduce the Biden 21.5 aggregate inflation and to do so immediately.”

    This is a point most people seem to miss, including those in Congress. The inflation impact felt by most Americans is not just the monthly average rate of increase year-to-year comparison but a cumulative inflation rate over an extended period of time or 21.5% over four years (2021 vs 2025). The other thing is that economic change does not happen with the snap of one’s fingers. It takes time to undo four years of great damage to our economy. We are an impatient nation and this is hard for some to grasp let alone accept.

    Finally, I am tired of the constant brawl in Washington. I have begun to simply turn it off. All of it. The ‘affordability’ issue works only because most do not understand the reality versus the rhetoric.

  14. Sorry Victor, Trump does NOT understand economics. His uneducated views about tariff’s will sink the mid-terms. He is rich. Common folks can’t picture Trump in a grocery store, or sifting for car insurance prices. He’s a duck out of water. He’s lost credibility. No amount of shilling from his BIG beautiful Ball Room were persuade sufficient voters to vote Republican next season.

    Trump’s ignorance is his tragedy. Game over.

  15. We should change the slogan from “Affordibilty” to plain old “Entitlement”. In NYC People feel they should he entitled to living in the most expensive city in the country to follow their dreams, to be hip, etc. They expect people who own private property to be forced lower their rents and eat the costs of maintenance. Businesses have gotten you to pay the higher prices due to high demand for products due stimulus checks, cost of diesel fuel in shipping, bird flu, etc. A LAW is not going to force them to lower prices again. Only Competition and Lack of Demand will force them to lower prices. Affordability requires sacrifice. Not having the latest “in” thing to post on social media is not the end of the world. Grow up, America. Life is not easy.

  16. Democrats in office will not bring affordability, it will re-open the borders and de-fund the police. Market that!

  17. On a previous comment I said I missed the old podcast that I was used to. But now I appreciate the smorgasbord of clips and interviews that come in 7 minute, 20 something minute and long interviews with Sami and Jack. Every Youtube video is a great learning experience as they’ve always been and I always look forward to more. Thank you again.

  18. Please Victor, request a sit down with Trump and his cabinet, TELEVISED TO THE AMERICAN PEOPLE!
    You must get your Words out!

  19. Great analysis Victor. It’s the economy economy economy. Let’s just focus on that. I’m hoping that pumping more oil will really lower prices on everything since what we buy is through transportation. But as important as anything is a soft answer turns away wrath. We know how incredibly stupid the other party’s agenda is but harshly criticizing it will only hurt us. Let’s be kind, positive, truthful and focus the good that’s being produced.

  20. Liberals often introduce “feel-good” policies that sound appealing but end up causing economic challenges. In response, conservatives implement measures to address these issues, but the solutions usually take time to show results. Despite this, conservatives are frequently blamed for the problems. At the same time, liberals are re-elected and benefit from the improvements brought about by conservative policies, only to start the cycle again by passing more “feel-good” measures. It’s an ongoing cycle in the world of politics.

  21. As long as Americans have little in the way of values that transcend consumption and as long as 1 party screams “ vote for us, the free lunch will continue unabated and there are no consequences” why is anyone surprised by the demagoguery for dummies that the Ds are serving up? Trump had the opportunity to have an all to necessary adult conversation with the public, instead he chose the status quo of deficits and consumption. The Rs will never win a long term battle for hearts and minds by trying to outbid the opposition with more free stuff if “we only limited it to citizens.” Alexis de Tocqueville wrote over 250 years ago: ‘The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.’ Plus ca change. Plus ca meme chose.

  22. Victor! Excellent analysis as always!! My first point. If Trump dressed up as Santa this Christmas, the left wing lemmings would file a lawsuit claiming mistreatment of Rudolph and his buddies, along with accusing him of cheating on Mrs. Claus. Not to mention not enough DEI hiring of elves!! Second point. I am in complete agreement that President Trump (God love em’) needs to stop the incessant finger pointing of Uncle Joe and Aunt Kamal’s failings! We GET IT! Money is better well spent on national media touting the empirical accomplishments already achieved and those that will come with patience. The time has come to fully engage in an about-face. Use your marketing talents to convince all of us in the economic trenches (objectively!) and spell out succinctly what you have done and what you will do or else the mid-term results will be catastrophic.

  23. Sadly, the majority of the American public are sheeple incapable of doing their own research.

    The DemonKrats playbook is Saul Alinsky’s “Rules for Radicals”. If America Sheeple read that, they’d understand how that party operates and the cause for chaos.

    Processes to filter out the O’Bidumb damage won’t happen overnight, but again, the sheeple can’t fathom what all is involved, not to mention a GOP full of RINOs.

  24. The American public is so short-sighted when it comes to the economy. The idea that you can undo four years of Biden economic damage in ten months is ludicrous. However, I agree that the Trump team needs to do a better job of explaining and forecasting to Americans when and how things will begin to improve.

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