Trump’s Lies About Prices, Thoroughly Demolished

Summary

Bulwark Takes: Trump’s Lies About Prices, Thoroughly Demolished
Release Date: May 13, 2025
Host: The Bulwark
Speaker: Will Salatan

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Introduction

In this episode of Bulwark Takes, Will Salatan dissects former President Donald Trump’s misleading statements regarding the U.S. economy, particularly focusing on his false claims about declining food prices. Salatan meticulously uses recorded statements and recent data to demonstrate how Trump has failed to manage the economy effectively, adversely affecting millions of Americans.

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Trump’s False Claims on Food Prices

Salatan opens the discussion by addressing the core reason many voters supported Trump: the belief that he would understand the economy and reduce living costs. Contrary to these expectations, Trump has exacerbated economic issues instead.

• Official Data vs. Trump’s Claims:
  Salatan references the official Consumer Price Index (CPI) published a month prior, indicating rising food prices as of April 10. Despite this, Trump publicly asserted the opposite.

  • Michigan Rally Statement (01:13):
    Donald Trump: "Grocery prices have gone down. Everything's gone down."

  • White House Speech (01:36):
    Donald Trump: "Groceries are down. The grocery prices are down."

  • Oval Office Address (01:42):
    Donald Trump: "Groceries are down. All of this stuff is down."

  Salatan emphasizes the falsity of these statements by highlighting that the updated CPI shows food prices remained flat since the last report, effectively rising by half a percentage point since Trump assumed office.

• Trump’s Dismissive Comments on Low Prices:
  Salatan points out Trump's flippant remark about prices being "too low," which he made despite the reality of high costs affecting millions.

  • Trump’s Joke on Egg Prices (02:09):
    Donald Trump: "We have too many eggs. In fact, if anything, the prices are getting too low to be fair."

  Salatan criticizes this as insensitive, especially when many Americans struggle with affordability.

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Ignoring Economic Indicators and Impact on Americans

Salatan transitions to how Trump dismisses warnings about his economic policies harming ordinary citizens.

• Tariffs and Their Consequences:
  Trump’s imposition of tariffs has led to increased costs for everyday items, yet he downplays these effects.

  • Cabinet Meeting Clip (02:51):
    Donald Trump: "Maybe the children will have two dolls instead of 30 dolls, you know, and maybe the two dolls will cost a couple of bucks more than they would normally."

  Salatan rebukes Trump’s indifference towards the financial strain on families, illustrating the president’s detachment from the real-world impact.

• Dismissal of Rising Costs:
  In a subsequent interview, Trump continues to trivialize the situation.

  • Meet the Press Interview (03:09):
    Donald Trump: "But you said some dolls are going to cost more. Isn't that an acknowledgment that some prices will go up?"

    Donald Trump: "I don't think a beautiful baby girl needs that' have 30 dolls. I think they can have three dolls or four dolls."

  Salatan highlights that Trump's focus on arbitrary numbers of toys ignores the broader issue of unaffordable prices for essential goods.

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Trump’s Dismissal of Recession Concerns

Salatan discusses Trump’s alarming stance on potential recessionary effects caused by his policies.

• Acceptance of Recession as a Byproduct:
  Trump appears unconcerned about the economic downturns resulting from his tariffs.

  • Trump’s Statement on Recession (04:05):
    Donald Trump: "Is it okay in the short term to have a recession?"

    Donald Trump: "Look, yeah, everything's okay."

  Salatan criticizes this viewpoint, noting that while such an attitude might not affect the wealthy, it has severe consequences for the average American, including job losses and increased poverty.

• Impact on Workers:
  Trump’s policies have directly affected specific sectors, leading to fear among workers.

  • Reporter’s Observation (04:37):
    Reporter: "Because business has slowed down... the ports here in the US the traffic has really slowed, and now thousands of dock workers and truck drivers are worried about their jobs."

  • Trump’s Response (04:51):
    Donald Trump: "Yeah, no, we lose. That means we lose less money. When I see that, that means we lose less money. So when you say it slowed down, that's a good thing, not a bad thing."

  Salatan underscores Trump’s lack of empathy, illustrating his prioritization of financial metrics over human welfare.

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Stock Market Mismanagement

Salatan explores Trump’s flawed understanding and communication regarding the stock market’s performance under his administration.

• Initial Optimism vs. Reality:
  Despite Trump's claims of a booming economy, the stock market has faced significant declines.

  • Trump’s March 16 Statement (05:46):
    Donald Trump: "So I think our economy's gonna roar. I think our stock market's gonna do great."

  • Stock Market Decline (05:50):
    Following Trump’s tariff announcement, the stock market plummeted over 10% on April 3 and 4, erasing millions in American savings.

• Deflecting Blame:
  Rather than taking responsibility, Trump attributes the downturn to President Biden.

  • Truth Social Post:
    Donald Trump: "This is Biden's stock market, not Trump's. He said it had nothing to do with the tariffs."

  • Cabinet Meeting (06:24):
    Donald Trump: "When you look at the stock market in this case is it says how bad a situation we inherited. I took the place... We came in on January 20th. So this is Biden. And you could even say the next quarter is sort of Biden."

  Salatan criticizes Trump for preemptively blaming his predecessor, showing his inability to reconcile his policies with economic outcomes.

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Approval Ratings and Polling Misrepresentation

Salatan highlights Trump’s disconnection from public sentiment and his manipulation of polling data.

• Declining Approval Ratings:
  RealClearPolitics shows Trump’s job approval rating turned negative in March and remains so by 4-5 points on average.

  • Gallup Data:
    Indicates Trump has the worst approval ratings in the first three months of any president in recorded history.

• Dismissal of Negative Polls:
  Trump claims polls are fabricated and overestimates his approval.

  • Rally in Michigan (08:32):
    Donald Trump: "But when you watch the fake news, you see fake polls. But on the legitimate polls, I think we're in the 60s. I really, I think we're in the 60s or 70s or something."

  Salatan refutes this by presenting RealClearPolitics data, which includes over 130 polls showing no legitimate survey places Trump's approval in the 60s, with none exceeding 55 in recent months.

• Fabricated Poll Results:
  Trump’s portrayal of near-universal approval is debunked.

  • Michigan Rally Statement (09:19):
    Donald Trump: "And as a result of our policies, for the first time in modern history, more Americans believe that our country is headed in the right direction than the wrong direction."

  • Salatan’s Counter:
    Examines over 40 polls in the last three months, none of which support Trump’s claim. On average, nine percentage points more Americans believe the country is headed in the wrong direction.

  • Fake Poll Example:
    Trump shared an image purportedly showing a 99% approval rate, which Salatan identifies as a straw poll from CPAC attendees, not reflective of the general populace.

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Conclusion and Call to Action

Salatan acknowledges that not all of Trump’s actions are detrimental and notes that some advisors have occasionally influenced better decisions, such as temporarily lowering tariffs. However, he underscores that Trump's overall inability to recognize the negative impact of his policies necessitates proactive measures by voters.

• Impact of Trump’s Leadership:
  Salatan argues that Trump remains detached from the real consequences of his economic strategies, prioritizing incorrect narratives over factual data and public well-being.

• Voter Responsibility:
  Emphasizes the importance of electing responsible state and federal officials who can counteract Trump’s harmful policies and prevent further economic deterioration.

  • Salatan’s Final Remarks:
    "The president of the United States simply doesn't see and doesn't get what's happening to real people. And as long as he's in that job, we need to elect governors, state legislators, and members of Congress who will stop him from doing even more damage. See you next time."

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Key Takeaways

• Misrepresentation of Economic Data: Trump has consistently misreported economic indicators, particularly regarding food prices, misleading the public about the true state of the economy.

• Disregard for Public Welfare: His policies, especially tariffs, have led to increased costs and job insecurity for many Americans, yet he remains indifferent to these hardships.

• Stock Market Accountability: Trump deflects responsibility for stock market declines, blaming former President Biden despite clear connections to his own economic policies.

• Manipulation of Polling Data: By dismissing legitimate polls and promoting fabricated ones, Trump maintains a falsely inflated perception of public support.

• Urgent Need for Responsible Leadership: Voters are encouraged to support and elect officials who recognize and address the adverse effects of Trump’s policies to safeguard the nation’s economic health.

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This comprehensive analysis by Will Salatan serves as a critical examination of Donald Trump’s economic rhetoric and actions, providing listeners with factual insights and urging proactive political engagement to rectify ongoing economic challenges.

Transcript

[Will Salatan]

Hey, it's Will Salatan from the Bulwark. And if you voted for Donald Trump or if you know someone who voted for Donald Trump, I want to show you something. A lot of people voted for Trump because they believed that he understood the economy and they thought that he would bring down prices. That has not happened. In fact, he's made everything worse. And what I want to show you today is why he's not doing the job and his voters thought he would do. I'm going to show you Donald Trump on camera demonstrating that he is unable to recognize or comprehend the damage he's doing to the economy and to millions of Americans. Let's start with a reality check. This is the official Consumer Price Index that was published a month ago. It found that, according to the latest data, as of April 10, food prices were increasing. But after that report was published, Trump went out and repeatedly told Americans just the opposite. Here's what he said at a rally in Michigan two weeks ago.

[Donald Trump]

Grocery prices have gone down. Everything's gone down. And yet I saw this person on msdnc, but I saw this person, he campaigned on bringing prices down. Every price has gone down. What am I going to do?

[Will Salatan]

That was absolutely false. But Trump just kept repeating the lie. Here's what he said the next day in a speech at the White House.

[Donald Trump]

Groceries are down. The grocery prices are down.

[Will Salatan]

And here's what he said last week in the Oval Office.

[Donald Trump]

Groceries are down. All of this stuff is down.

[Will Salatan]

By the way, this morning, the government published an updated consumer Price index. It found that food prices on average were basically flat since the last report, which means that since Trump took office, they're up about half a percentage point. But Trump didn't just claim that food prices were down. He actually said prices were too low. Watch.

[Donald Trump]

We have too many eggs. In fact, if anything, the prices are.

[Will Salatan]

Getting too low to be fair. Trump was joking when he said that. But what kind of president jokes that the price of food is too low when. When millions of people are struggling because prices are too high? And that's the next thing I want to show you. When the people around the president explain to him that his policies are hurting ordinary Americans, he blows it off. Watch this clip from his Cabinet meeting two weeks ago. He was talking here about warnings from economists that because of his tariffs, Americans were would have a hard time finding or affording items they need.

[Donald Trump]

Maybe the children will have two dolls instead of 30 dolls, you know, and maybe the two dolls will cost a couple of bucks more than they would normally.

[Will Salatan]

Hey, what's a couple of bucks. Your kid doesn't need that doll. Suck it up. And Trump wasn't finished. Here's what he said two days later on Meet the Press.

[Donald Trump]

But you said some dolls are going to cost more. Isn't that an acknowledgement that some prices will go up?

I don't think a beautiful baby girl needs that' have 30 dolls. I think they can have three dolls or four dolls.

[Will Salatan]

The president seems to have his own ideas about how many dolls your kid should have. And it's not just dolls. Here he is in the same interview talking about how many pencils you should have.

[Donald Trump]

When you say they could have three dolls instead of 30 dolls, are you saying you say they don't need. Americans could see empty store shelves.

No, I'm not saying that. I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have have five.

[Will Salatan]

So if you can't afford to buy what you used to buy, Trump's message is deal with it. In fact, he says it's okay even if his tariffs cause a recession. Watch.

[Donald Trump]

Is it okay in the short term to have a recession?

Look, yeah, everything's okay.

[Will Salatan]

Everything's okay. Maybe that's true if you're rich, but for most Americans, a recession is not okay. People lose their jobs. Kids go hungry. But Trump doesn't feel that. Watch what happened last week when a reporter told the President what his tariffs were doing to truck drivers and dock workers at American ports.

[Reporter]

Because business has slowed down, as you mentioned in China, but we're seeing as a result, the ports here in the US the traffic has really slow, and now thousands of dock workers and truck drivers are worried about their jobs.

[Donald Trump]

Yeah, no, we lose. That means we lose less money. When I see that, that means we lose less money. So when you say it slowed down, that's a good thing, not a bad thing.

[Will Salatan]

Trump doesn't seem to care about people who are on the verge of losing their jobs because of what he's doing. He thinks if we cut off imports and Americans who rely on those imports to make a living suffer, that's good. This is not normal. This is not how a normal president thinks. A normal president, when his policies are hurting people, steps back. But Trump has cut himself off mentally from all the evidence that he's taking us in the wrong direction. Let me show you two examples. First, the stock market. Here's what Trump said on March 16.

[Donald Trump]

So I think our economy's gonna roar. I think our stock market's gonna do great.

[Will Salatan]

But that's not what happened. On April 3 and April 4, the two days after he announced his tariffs, the stock market fell more than 10%. It decimated the savings of millions of Americans. But Trump blew it off. He said it was Joe Biden's fault. Here's what he posted on Truth Social. This is Biden's stock market, not Trump's. He said it had nothing to do with the tariffs. And here's what Trump said at his Cabinet meeting two weeks ago.

[Donald Trump]

When you look at the stock market in this case is it says how bad a situation we inherited. I took the place. This is a quarter that we looked at today. And I took, we took all of us together. We came in on January 20th. So this is Biden. And you could even say the next quarter is sort of Biden.

[Will Salatan]

Did you catch that part at the end? Trump is already preparing his excuse for the next three months. He's already saying that if the economy continues to decline, it's not his fault. So the president has insulated himself mentally from the stock market and other indicators that we're going in the wrong direction. And he's also insulated himself from another warning sign, the polls. Let me show you Trump's job approval rating in the RealClearPolitics polling average. In this graph, you can see that his rating was positive at the beginning, and then it turned negative in March, and it's been negative ever since. His current average is negative by about 4 to 5 points. And in this chart from Gallup, you can see that Trump in his first three months had the worst approval ratings of any president in recorded history. A normal president would look at those numbers and recognize that Americans don't like what he's doing. But Trump doesn't see that because he thinks the. Those polls are fake, all of them. Watch what happened two weeks ago when Bill O'Reilly, a conservative TV host who supports Trump, asked him about the bad numbers.

[Bill O'Reilly]

So, a series of rough polls this week, and I'm wondering how you process that.

[Will Salatan]

Do you.

[Bill O'Reilly]

Does it hurt your feelings when you see numbers come in that are not what you'd like them to be.

[Donald Trump]

Well, first of all, they're fake polls.

[Will Salatan]

Trump thinks his real approval rating is about 20 points higher than the polls are showing. Here's what he said at his rally in Michigan on April 29th.

[Donald Trump]

But when you watch the fake news, you see fake polls. But on the legitimate polls, I think we're in the 60s. I really, I think we're in the 60s or 70s or something.

[Will Salatan]

The 60s. Let me show you the real clear politics table of all the polls that have been published since Trump took office in January. This includes Fox News and all the right wing pollsters like Rasmussen. There are more than 130 polls in this table. Not one has an approval rating in the 60s. In the last three months, Trump hasn't even cracked 55. So when he says the legitimate polls have him in the 60s, he's talking about polls that literally don't exist. And here's another thing he said at the rally in Michigan.

[Donald Trump]

And as a result of our policies, for the first time in modern history, more Americans believe that our country is headed in the right direction than the wrong direction.

[Will Salatan]

Again, that's a total fantasy. Here are all the polls that have asked whether we're going in the right direction. If you look at the last 40 polls going back about three months, not one of them said we're going in the right direction. On average, the percentage of Americans who say we're going in the wrong direction is nine points higher than the percentage who say we're going in the right direction. And then on Saturday, Trump posted this picture that makes it look as though his approval rating is 99%. But if you search for that picture on Google, it turns out to be a straw poll of people who attended cpac, a right wing political conference. It's not the media that are posting fake polls. It's Trump himself. Look, I'm not going to pretend that everything Trump does is wrong. He does have some people around him who see the damage to the economy, and sometimes those people can get him to back off, like he did on Monday when he temporarily lowered some of his tariffs. And if he keeps listening to those advisors, they might be able to limit some of the harm he's doing. But that's no way to run a country. The president of the United States simply doesn't see and doesn't get what's happening to real people. And as long as he's in that job, we need to elect governors, state legislators, and members of Congress who will stop him from doing even more damage. See you next time.