{"id":4066,"date":"2026-07-23T19:43:36","date_gmt":"2026-07-23T19:43:36","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4066"},"modified":"2026-07-23T19:43:36","modified_gmt":"2026-07-23T19:43:36","slug":"trump-dismissed-affordability-as-a-word-made-up-by-the-democrats-and-promised-oil-would-come-tumbling-down-then-it-hit-100-a-barrel","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4066","title":{"rendered":"Trump dismissed affordability as a word \u2018made up by the Democrats\u2019 and promised oil would come \u2018tumbling down\u2019\u2014then it hit $100 a barrel"},"content":{"rendered":"
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\u201cThey used the word\u2014first time I heard it. It was a word, you know, made up by the Democrats: affordability,\u201d Trump said, describing his response at the time as, \u201cI\u2019ve been here one day. Don\u2019t worry. I\u2019ll take care of it.\u201d He blamed his predecessor Joe Biden and the \u201cradical left Democrats\u201d for what he called \u201cthe worst inflation in 48 years,\u201d citing Treasury Secretary Scott Bessent as his source for the figure. In fact, the 2022 inflation surge was the worst in roughly 40 years, with Yale economist Stephen Roach noting that Trump often repeats the claim, one of his \u201cbiggest economic lies.\u201d<\/p>\n

Read more Battleground House district to feature former New York Jets kicker \u2014\u00a0and the former NFL doctor who treated him for 2 years<\/a><\/p>\n

Trump\u2019s rally in Marietta was a case study in what that reframing costs him. The president\u2019s economic narrative\u2014eggs down, oil coming down, stocks up, 401(k)s flush\u2014is accurate in pieces and misleading in sum. The stock market has hit 73 all-time highs since the election while consumer confidence is near historic lows, and both things are true because the market rally is riding on a rickety bet on AI, with tech megacaps\u2019 earnings not translating into lower grocery bills or affordable mortgages. The president spent Wednesday night celebrating one half of that picture and dismissing the other as a word his opponents made up.<\/p>\n

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Georgia gubernatorial candidate Rick Jackson, who spoke alongside Trump, offered his own reframing of the affordability debate: \u201cThe other side talks about affordability as if that\u2019s a solution. Affordability is not a political problem. Affordability is a business problem\u201d\u2014a remarkable statement for many reasons, not least for undercutting Trump\u2019s tendency to blame high prices on Joe Biden. <\/p>\n

Trump\u2019s comments about the price of oil told a similar story. <\/p>\n

The oil prediction<\/h2>\n

When Trump turned to energy prices, he framed recent spikes as temporary friction on the way to a much larger drop. \u201cOil will be coming\u2014it\u2019s going to be tumbling down,\u201d he told the crowd, describing a collapsed deal with Iran three weeks earlier: \u201cThey thought we had a deal. I said, \u2018I don\u2019t think we have a deal with these guys. They break every deal they make.\u2019\u201d<\/p>\n

The next day, oil surged on renewed fighting in the Middle East. Brent crude rose more than 6% to over $100 per barrel in early Thursday trading, its highest level since the end of May, while U.S. crude jumped for a second straight day to almost $92\u2014its highest since early June.<\/p>\n

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On Wednesday night, Trump had insisted prices would eventually fall\u2014\u201cmaybe lower than when we even started\u201d\u2014but asked supporters for patience: \u201cJust give me a little time.\u201d<\/p>\n

The escalation also collided with Trump\u2019s framing of the conflict as a mere \u201cskirmish\u201d that Iran wants to end. Houthi attacks on Saudi Arabian oil tankers in the Red Sea forced at least five vessels to reroute around the Bab el-Mandeb Strait to avoid the danger zone. \u201cThey\u2019re getting hit so hard, and they want to make a deal,\u201d Trump said. \u201cBut I say they\u2019re not ready to make a deal, because every time they make a deal, they want to change it.\u201d<\/p>\n

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Buried in the speech was a moment of concession Trump rarely offers on cost-of-living messaging. \u201cI just want you to remember that if you\u2019re paying a little bit more, a lot of it\u2019s come down now. We got it coming down very rapidly, actually,\u201d he said. Trump seemed to be talking about the slowing rate of inflation, which is coming down, while voters nationwide are angry that prices actually haven\u2019t gone into reverse after years of what they see as unfair profit-taking. Since Trump told voters that he\u2019d \u201cwon\u201d on affordability in February\u2014during another rally in Georgia, in fact\u2014his polling numbers have served as a strong counterargument. The latest polling available shows a more than 30-point plunge in voter opinion on his handling of the economy since his inauguration, with the net rating for his handling of inflation and prices at -43, the lowest for this term. <\/p>\n

Read more Trump signed a nuclear deal with Saudi, then rewrote its terms on social media to include Israel<\/a><\/p>\n

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Eggs as the model, oil as the test<\/h2>\n

Trump held up falling egg prices as proof that his approach works, recalling that Easter egg hunt organizers once suggested using \u201cplastic eggs\u201d because real ones were too expensive. He credited his agriculture secretary with getting egg prices \u201clower than \u2026 when we started\u201d\u2014a claim that lines up with independent data showing egg prices down nearly 28% year over year, though economists attribute the drop primarily to flock recovery after avian flu outbreaks rather than administration policy.<\/p>\n

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Several weeks earlier, the Justice Department and 17 states reached settlement agreements with three major egg producers this week over allegations that they had illegally colluded for years to raise prices. Cal-Maine\u2014the only public company among the settling parties\u2014reported a profit of $1.22 billion for the 2025 fiscal year; it agreed to pay $1.5 million and donate 30 million eggs, without admitting wrongdoing.<\/p>\n

Oil is a different story. Unlike eggs, crude prices are hostage to an active shooting conflict Trump has repeatedly declared nearly over, only to see it reignite. He told the Marietta crowd that Venezuela was now helping fill the gap\u2014claiming the U.S. and Venezuela together control \u201cabout 62% of the world\u2019s oil market\u201d and don\u2019t \u201cneed the Hormuz Strait\u201d\u2014but added: \u201cWe do it because we have to do it, because we cannot let Iran have a nuclear weapon.\u201d Another source disagreed with this statement: President Trump himself, who in January estimated the U.S. and Venezuela have 55% of the world\u2019s oil market. In fact, BP and Energy Information Administration (EIA) data indicate both of those are massive overstatements, and the true percentage is roughly 24%.<\/p>\n

In other remarks in Marietta, Trump seemed to celebrate business as something that isn\u2019t problematic at all, noting that the stock market has hit 73 all-time highs since the election and that the typical American\u2019s 401(k) is up by $34,000, \u201csetting records day after day.\u201d What he left unmentioned is a divergence Wall Street\u2019s own research desks have been flagging for months. J.P. Morgan Private Bank found that stock valuations are trading near record highs while consumer confidence sits close to record lows, attributing the gap to what strategist Jason Seydl called \u201cthe inescapable word\u2014affordability.\u201d The University of Michigan\u2019s Consumer Sentiment Index should be running near 93 based on stock performance, unemployment, and inflation trends alone; instead it\u2019s roughly 40 points lower, closer to historic lows.<\/p>\n

The mismatch traces to who actually owns the rally. Much of the 2026 market surge has been concentrated in a handful of AI-driven megacaps, whose earnings gains rarely translate into higher household spending power. Meanwhile, median-income families now need roughly $50,000 more in annual income than they did in 2019 just to afford a median-price home, and a typical family earning the nation\u2019s median income of $106,800 still needs 32% of that income just to cover a mortgage payment\u2014the exact \u201caffordability\u201d squeeze Trump dismissed as a made-up term. Those are the people paying a \u201clittle bit more,\u201d as the president said. <\/p>\n

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For this story,\u00a0<\/em>Fortune\u00a0journalists used generative AI as a research tool. An editor verified the accuracy of the information before publishing.<\/em><\/p>\n

Read more \u2018The most cross-partisan issue I\u2019ve ever seen in my life\u2019: Republicans are so exposed on data centers that even Texas is going up for grabs<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

At his rally, Trump admitted, \u201cYou may be paying a little bit more,\u201d and pleaded for more time, while saying the Iranians \u201cbreak every deal they make.\u201d <\/p>\n","protected":false},"author":1,"featured_media":4065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[],"class_list":["post-4066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-white-house"],"yoast_head":"\nTrump dismissed affordability as a word \u2018made up by the Democrats\u2019 and promised oil would come \u2018tumbling down\u2019\u2014then it hit $100 a barrel - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=4066\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump dismissed affordability as a word \u2018made up by the Democrats\u2019 and promised oil would come \u2018tumbling down\u2019\u2014then it hit $100 a barrel - 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