Trump promises economic revival, faults Biden in national address

President Donald Trump pledged an economic resurgence in a nationally televised address on Wednesday, while laying responsibility for rising living costs on his Democratic predecessor, Joe Biden—an issue that has weighed on his popularity.

“Good evening, America. Eleven months ago, I inherited a mess, and I’m fixing it,” the 79-year-old said in a live speech from the White House, marking the end of his first year back in office.

Despite Trump’s attempts to dismiss concerns over affordability as a Democratic “hoax,” frustration over high prices has continued to grow among voters, prompting Republican concerns about potential losses in the 2026 midterm elections.

The billionaire president insisted that the cost of gas and groceries was “falling rapidly,” adding, “It’s not done yet—but we are making real progress.”

In an unexpected move, Trump announced that 1.45 million US military personnel would receive “warrior dividend” bonus payments of $1,776 each before Christmas, funded through tariff revenues. He said the figure was chosen to honor the year of America’s founding, ahead of the country’s 250th anniversary next year.

Looking ahead, Trump promised that the United States was on the verge of “an economic boom the likes of which the world has never seen” in 2026, when it will co-host the FIFA World Cup with Canada and Mexico.

Although the White House had framed the speech as an outline of Trump’s economic plans for the remainder of his second term, much of the address focused on familiar attacks. Trump repeatedly criticized Biden, Democrats, and migrants, accusing them of “stealing American jobs.”

Democrats quickly responded. Senate Majority Leader Chuck Schumer said Trump “showed he is living in a bubble, disconnected from what everyday Americans are seeing and feeling,” adding that prices and unemployment were rising with “no end in sight.”

The address capped a turbulent year in which Trump has asserted sweeping presidential authority, including a hardline approach to migration and moves against political opponents.

Poll pressure mounts

Polling suggests that high prices remain voters’ top concern, a problem economists partly attribute to Trump’s tariff policies. A PBS News/NPR/Marist poll released Wednesday showed 57 percent of Americans disapproved of Trump’s handling of the economy, his worst rating on the issue to date. A separate YouGov poll found that 52 percent believed the economy was worsening under his leadership.

Trump has also faced criticism from within his MAGA base for prioritizing foreign policy—such as peace efforts in Ukraine and Gaza and tensions with Venezuela—over domestic issues. While he avoided mentioning Ukraine or Venezuela, he highlighted the Gaza ceasefire, US strikes on Iran’s nuclear facilities, and what he described as a crackdown on drug traffickers.

Recent electoral setbacks appear to have sharpened the administration’s focus on economic messaging, with midterm elections approaching. Republicans suffered heavy losses in November mayoral and gubernatorial races, while Democrats performed strongly in areas once considered safe Republican territory.

Trump has since increased domestic travel to promote his economic agenda. Speaking in Pennsylvania last week, he vowed to “make America affordable again,” and he is set to hold another rally in North Carolina on Friday. Vice President JD Vance, increasingly serving as the administration’s economic spokesperson as he eyes a potential 2028 presidential run, also urged patience from voters in remarks earlier this week.