President Donald Trump has declared that the upcoming 2026 midterm elections will be dominated by the issue of 'pricing', a stark pivot from his previous characterisation of widespread affordability concerns as a Democratic 'hoax'.
From 'Hoax' to Campaign Cornerstone
In an interview with Politico on Friday, the Republican president expressed confidence that voters would embrace his economic agenda when they head to the polls next year. "I think it’s going to be about the success of our country. It’ll be about pricing," Trump stated. "Because, you know, they gave us high pricing, and we’re bringing it down. Energy’s way down. Gasoline is way down."
This new emphasis follows significant Democratic electoral gains earlier in the year, victories largely attributed to tapping into deep-seated economic anxieties among the electorate. Recognising the potency of the issue, Trump has taken to the campaign trail, notably at a rally in Mount Pocono, Pennsylvania on December 9.
However, during that speech, he revisited his controversial dismissal of the cost-of-living crisis. "They have a new word. You know, they always have a hoax. The new word is affordability," Trump said, arguing that while prices were high due to Democratic policies, "now they're coming down." He also made contentious remarks about austerity, suggesting American children should be content with fewer school supplies and toys.
A Mixed Economic Picture
Trump's comments arrive amidst a series of recent economic reports presenting a complex national picture. On one hand, key indicators show strength:
- Inflation fell to 2.7 percent year-over-year in November, the lowest rise since July.
- The economy grew at an annual rate of 4.3 percent in the latest quarter, the fastest pace in two years.
Trump touted these figures, telling Politico, "You saw the 4.3 percent? The Democrats were exploding. Their heads were exploding." He further emphasised falling energy costs, stating, "It’s all coming down. It’s coming beautifully." Just a day prior, he had awarded the US economy an "A-plus-plus-plus-plus-plus" rating.
Voter Anxiety and Economic Headwinds
Despite the positive data, other metrics and polls reveal persistent strain. Corporate bankruptcies from January to November soared to a 15-year high, a trend linked by analysts to ongoing trade tensions.
More critically, voter sentiment reflects ongoing hardship. A November Politico survey found that 46 percent of respondents believe the current cost of living is the worst they can remember. This feeling cuts across political lines, affecting 37 percent of Trump's 2024 voters and 53 percent of those who backed Kamala Harris.
The poll further detailed widespread financial pressure:
- Nearly half of Americans report struggling to afford essentials like groceries, healthcare, and housing.
- Over a quarter have skipped medical appointments in the past two years due to high costs.
This disconnect between some macroeconomic data and the lived experience of voters sets the stage for a contentious midterm election cycle, where the debate over 'pricing' and true affordability is likely to be central.
