WSJ Opinion: Potomac Watch What's Missing From Donald Trump's ‘Affordability’ Message
Dec 10, 2025
Analyzing Trump's rally in Pennsylvania, hosts discuss his claim that prices are falling despite ongoing inflation at 3%. They explore how wage stagnation affects households and the potential political risks for the GOP in the 2026 midterms. There's a focus on policy tools like permitting reform and tax changes to address affordability. The impact of tariffs on consumer prices and small businesses is debated, alongside the shifting dynamics among Hispanic voters due to immigration policies, hinting at critical political consequences.
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Inflation Isn’t Over For Many Households
- Inflation is still running above the Fed target at about 3% year over year.
- Many essential costs like electricity, natural gas and used cars rose faster, so wages often didn't keep up.
Telling Voters Won’t Convince Their Pocketbooks
- Trump risks repeating the mistake of telling voters how to feel about the economy instead of listening to them.
- The economy has shifted from Trump's strongest issue to a major vulnerability heading into 2026.
Pencils Joke Met Laughter, Not Sympathy
- At the rally Trump quipped people can give up 'pencils' or '$37' gifts as part of his China policy patter.
- The audience laughed, but manufacturers and parents facing higher prices likely won’t find it funny.