Fact-checking Trump’s claims in his politically charged prime-time speech

Geoff Bennett:

President Trump addressed the nation last night in a politically charged prime-time speech.

Amna Nawaz:

In front of Christmas trees at the White House, he blamed his predecessor, Joe Biden, and the Democrats in general for economic challenges and inflation.

Our White House correspondent, Liz Landers, has this fact-check.

President Donald Trump:

Good evening, America.

Liz Landers:

As the first year of his second term comes to a close, President Trump projected positivity.

Donald Trump, President of the United States: Over the past 11 months, we have brought more positive change to Washington than any administration in American history. There has never been anything like it. And I think most would agree.

Liz Landers:

The roughly 20-minute speech mostly focused on the state of the economy, as new polling shows Americans concerned about the price of goods and souring on his handling of the issue.

In the latest PBS News/NPR/Marist poll, 57 percent disapprove of the job he's doing on the economy. Just 36 percent of poll respondents approve, a record low across both his terms.

Throughout the address, the president falsely referred to inflation as a solved problem.

Donald Trump:

When I took office, inflation was the worst in 48 years, and some would say in the history of our country. Inflation has stopped, wages are up, prices are down, our nation is strong.

Liz Landers:

As we reported earlier in the program, inflation has slowed, but year-over-year inflation remains higher than the Federal Reserve's 2 percent target. Inflation was at a four-decade high in 2022 under President Biden, but had been higher at multiple points in the 20th century, most recently around 1980 at nearly 14 percent. It had fallen to 3 percent by the time Trump took office in January.

Donald Trump:

The last administration and their allies in Congress brought in millions and millions of migrants and gave them taxpayer-funded housing while your rent and housing costs skyrocketed.

Liz Landers:

The president repeatedly pointed his finger at both the Biden administration and immigrants for rising costs. Deportations have been a major piece of the second Trump administration's agenda, at times receiving criticism for using potentially illegal tactics.

There is no clear evidence that immigration substantially contributed to rising housing costs for citizens.

Donald Trump:

Democrat politicians also sent the cost of groceries soaring, but we are solving that too.

Liz Landers:

Consumer Price Index data actually shows that more grocery items have increased in price this year than decreased.

Donald Trump:

The price of eggs is down 82 percent since March and everything else is falling rapidly, and it's not done yet, but, boy, are we making progress. Nobody can believe what's going on.

Liz Landers:

The wholesale price of eggs has fallen more than 82 percent, but retail prices have fallen just 44 percent from March to September. And the Consumer Price Index rose by 3 percent in September.

Donald Trump:

Gasoline is now under $2.50 a gallon in much of the country. In some states, it, by the way, just hit $1.99 a gallon.

Liz Landers:

This is an exaggeration. Estimates show that national gas prices averaged closer to $2.90 per gallon, and while some stations in certain states have prices below $2, that's including membership promotions.

Donald Trump:

I negotiated directly with the drug companies and foreign nations, which we're taking advantage of our country for many decades, to slash prices on drugs and pharmaceuticals by as much as 400, 500, and even 600 percent. In other words, your drug costs will be plummeting downward.

Liz Landers:

While costs for some drugs may drop next year, the price cuts the president talked about are not mathematically possible. A 100 percent cut would mean prescription drugs would be free.

Donald Trump:

I have secured a record-breaking $18 trillion of investment into the United States, which means jobs, wage increases, growth, factory openings and far greater national security. Much of this success has been accomplished by tariffs.

Liz Landers:

President Trump's own White House Press Office has tallied half of that number in investments, $9.6 trillion. But that includes many informal pledges from foreign countries and already announced projects.

Qatar and the United Arab Emirates have each pledged more than $1 trillion, but that's more than their gross domestic products. The president's speech included falsehoods and hyperbole. One of the only new initiatives he announced was what he called a warrior dividend for military service members. But the money comes from previously approved funds by Congress.

Donald Trump:

In honor of our nation's founding in 1776, we are sending every soldier $1,776. Think of that. And the checks are already on the way.

Liz Landers:

He claimed that tariffs and the Big Beautiful Bill tax package will help pay for the dividends.

Senator Roger Wicker praised the move, noting in a statement the $2.9 billion in funding comes from the bill passed over the summer. It was allocated to offset housing costs and cost of living increases and meant to be doled out over two years, instead of a lump payment. But the funds do not come directly from tariff revenue.

Donald Trump:

We're poised for an economic boom, the likes of which the world has never seen.

Liz Landers:

The president ended his message with defiance as he looked ahead to next year.

Donald Trump:

We are respected again like we have never been respected before.

Liz Landers:

For the "PBS News Hour," I'm Liz Landers.