U.S. President Donald Trump promised an economic upturn in a speech to the nation on Wednesday, blaming high prices that have affected his popularity on his predecessor Joe Biden, LETA reports citing AFP.
"Good evening, America. Eleven months ago, I inherited chaos — and I fixed it," said 79-year-old Trump in a live broadcast from the White House, thus characterizing his first year after returning to the White House.
Among Americans, dissatisfaction with high prices is growing, despite Trump's attempts to portray them as a "fabrication" of the Democrats, and there is increasing concern among Republicans that this discontent could negatively impact the party in the 2026 midterm elections.
Republicans have already suffered a serious defeat in the New York City mayoral elections and at the state level in Virginia and New Jersey, which took place in November. However, in a special election in Tennessee for a seat in the U.S. House of Representatives, the Republican candidate won a tight race against the Democrat.
In his speech, Trump noted that fuel and food prices, which are causing concern among many Americans, are sharply decreasing. He acknowledged that not everything has been accomplished yet, but emphasized that progress is already being made.
The president also unexpectedly announced that 1.45 million American servicemen will receive a bonus of $1,776 by Christmas. According to him, the payment will be funded from revenues generated by tariffs. He added that the amount was chosen in honor of the year of the founding of the United States.
Trump then promised that the U.S. would experience an economic upturn in 2026 like the world has never seen before.
The White House characterized this speech as an opportunity for Trump to outline his economic agenda for the remainder of his second presidential term; however, much of the speech was taken up by Trump's attacks on traditional targets.
The president repeatedly spoke out against Biden, the Democrats, and illegal immigrants, whom he claimed "stole jobs from Americans."
After the speech, Democrats criticized Trump's statements, with Senator Chuck Schumer stating that Trump "just showed that he lives in a bubble, completely detached from the reality that Americans see and feel every day. The facts speak of rising prices. Unemployment is increasing. And there seems to be no end in sight."
Trump's speech came amid a tumultuous end to the year, during which he began an unprecedented display of presidential power — restricting immigration and attacking political opponents.
Polls show that the highest concern among Americans is high prices, which experts believe are partly caused by tariffs imposed by Trump on U.S. trading partners around the world.
According to a survey conducted by PBS News, NPR, and the Marist Poll research center, 57% of Americans said they do not support Trump's economic policy and are worried about the rising cost of living. This is Trump's lowest rating in the economy so far.
In a survey by the YouGov research center, 52% of Americans expressed the opinion that the economy is worsening under Trump.
At the same time, Trump is being criticized by his own MAGA movement ("Make America Great Again") for focusing on ending the war between Russia and Ukraine, achieving peace in the Gaza Strip, and regime change in Venezuela, instead of paying attention to domestic policy.
In his speech, Trump did not mention either Ukraine or Venezuela, but boasted about the ceasefire in Gaza, the U.S. strike on Iran's nuclear program, and what he called a war against drug traffickers.
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