In his longest-ever State of the Union address, President Donald Trump touted economic gains and his roles in international hot spots, hoping to boost Republican prospects in the looming midterm elections. But the president's rosy portrayal of the economy seems increasingly at odds with the pocketbook concerns of many Americans struggling with high prices and stagnant wages.
Ignoring Affordability Woes
What this really means is that Trump is doubling down on his economic messaging, even as polls show voters are souring on his economic stewardship. While the president claimed the U.S. is "winning so much" that people are begging him to stop, the bigger picture here is that many Americans are feeling the pinch of rising costs for essentials like food, gas, and housing.
Shifting Gears on Trade
Trump also sought to highlight his roles in international affairs, including his administration's efforts to oust Venezuelan President Nicolás Maduro. But the president's boasts came just days after the Supreme Court overruled his authority to impose sweeping tariffs - a key plank of his economic platform.
As recent analysis has shown, Trump's protectionist trade policies failed to deliver the promised economic miracle. In fact, economic revisions have cast doubt on the strength of the jobs recovery under his watch.
Weathering the Storm
With affordability emerging as a major voter concern, the president may find it increasingly difficult to convince Americans that the economy is as robust as he claims. As some analysts have noted, the headwinds facing the economy could intensify in the months ahead.
For ordinary Americans, weathering this economic storm will require a renewed focus on personal finance fundamentals like budgeting, saving, and debt management. The president's boasts may do little to ease the very real financial pressures many families are facing.