Donald Trump took aim at the language Democrats use to criticize the economy, calling affordability a political term invented by consultants to attack his policies. Yet during a Wednesday rally in Georgia, he spent most of his speech defending the basic economic benefits his administration is promoting.
Speaking in Marietta near Atlanta, Trump acknowledged that prices remain elevated but blamed the Biden administration for the damage. He told the crowd that costs are coming down rapidly and will continue to fall under his policies.
The economic messaging reflects a vulnerability. Just 33% of voters approve of Trump's handling of the economy, according to a Washington Post-Ipsos poll, a weakness that could threaten Republican chances of keeping Congress in the midterm elections.
Trump traveled to Georgia to promote his newly launched Trump accounts, tax-free investment funds seeded with $1,000 of federal money for every child born through 2028. The move targets a swing state where high-profile races for governor and Senate are underway.
Treasury Secretary Scott Bessent, speaking before the president, framed the accounts as a victory for capitalism. He took a swipe at New York Mayor Zohran Mamdani, accusing him of promoting the idea that government can solve all problems and redistribute wealth.
Several Republican candidates appeared with Trump at the Wheeler High School event. The president likened Democratic US Senator Jon Ossoff, who is seeking re-election in a closely watched race, to Pee-wee Herman. Polling shows Ossoff leading Republican Mike Collins, who was in Washington for a budget vote.
Rick Jackson, the Republican candidate for Georgia governor and founder of Jackson Healthcare, pledged to match the $1,000 federal contribution if elected. Jackson is worth an estimated $3 billion.
The state's budget math shows the impact of the program. Georgia recorded more than 126,000 live births in 2024, which would mean $126 million in annual federal contributions for Trump accounts. The state carries a $15 billion budget surplus, including $9 billion in unrestricted funds, creating a political battle over how to spend it. Republicans want property tax relief while Democrats push for healthcare and childcare investments.
The accounts allow parents, friends, and employers to deposit up to $5,000 annually. Children control the funds after age 18 and can use them for college, home purchases, or starting a business. The program will cost the federal government $17 billion through 2028.
Trump argued that the accounts reverse decades of Washington neglect. "For decades, Washington politicians gave our children absolutely nothing but debt," he said. "But the Trump accounts, we're finally seeing and ensuring that every young American gets a great start in life."
That message carries historical weight. Trump increased the national debt by roughly $8 trillion during his first term, more than any other president on an inflation-adjusted basis. Spending in his current term is tracking at a similar pace, with $3 billion added so far.
Current inflation stands at 3%, down from higher levels. Last month saw a 0.4% decrease, driven largely by a nearly 10% drop in gasoline and oil prices after a temporary pause in Iran conflict. Core inflation was flat for the first time in five years.
Those gains appear temporary. Gasoline prices have climbed back above $4 a gallon as oil prices rose following renewed Iran hostilities and concerns about the Strait of Hormuz, a critical waterway for global energy shipments.
Trump said he had attended a dignified transfer ceremony at Dover Air Force Base in Delaware for service members killed in the Iran conflict. He brought the family of 1st Lt Tyler James Feehan, 25, of Ewa Beach, Hawaii, aboard Air Force One to the Georgia rally.
The president continued promoting claimed pledges of $19.2 trillion in economic investment, figures that economists from institutions like the Cato Institute view as inflated by nonbinding promises.
Author James Rodriguez: "Trump's economic case has a credibility problem when he's touting growth while the debt clock keeps running."
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