OPINION:
For too long, American families watched their paychecks shrink, grocery bills soar and futures dim, but that painful era is finally ending under President Trump’s leadership.
The inflation crisis that crippled families across the nation was created by the failed policies of the previous Democratic leadership and is now being reversed under “America First” governance.
Mr. Trump entered office amid the worst cost-of-living crisis in decades. Inflation had surged to 9.1%, a level unseen in generations, inflicting a tax on every household’s budget and eroding real wages. Since then, “America First” policies have cut inflation by more than half, stabilizing prices and setting the foundation for sustained economic relief.
Under the previous administration, consumer prices skyrocketed across crucial categories. Car prices jumped 25%, gasoline rose by 30%, hotel costs spiked 37% and airfares climbed 31%. Meanwhile, real wages plunged by nearly $3,000, leaving working Americans struggling just to keep pace with everyday expenses. This was compounded by misguided regulatory growth and spending policies that distorted markets, suppressed productivity and weakened incentives for job creation.
Compare that with today’s trajectory under Mr. Trump. Inflation has trended down to an average of 2.7% — a return to price stability that underpins long-term prosperity — and key categories of household spending are now declining. Staple goods such as eggs, butter, cereal and rice are more affordable than a year ago, and even the price of a Thanksgiving turkey dropped nearly one-third from its prior peak.
Housing costs, which ballooned under the previous regime, have begun to moderate. Mortgage rates on 30-year fixed loans have fallen to approximately 6.19%, 12% lower than when the president assumed office, saving borrowers roughly $3,000 annually. Rent inflation is at a four-year low, and nationwide median rents have declined for four consecutive months, offering tangible relief to renters.
Perhaps most important, Mr. Trump’s strategic focus on economic growth and deregulation is helping to boost real wages. After years of stagnant paychecks, and after accounting for price increases, real wages are set to grow by more than $1,000 over Mr. Trump’s first full year in office. This reflects a fundamental shift: Wages are now rising faster than inflation, restoring purchasing power to American workers.
Job creation has also rebounded, with 2.7 million more American-born workers employed today than at the start of Mr. Trump’s term, and employment levels at near-historic highs. These gains underscore a broader revival in labor markets, driven by private sector expansion and robust capital investment.
A centerpiece of the economic resurgence is the largest tax cut in U.S. history, a landmark package that eliminates taxes on tips, overtime and Social Security benefits, potentially boosting take-home pay by as much as $13,300 for some families.
Deregulatory actions have delivered roughly $180 billion in savings to American families — the equivalent of $2,100 per family of four — by rolling back costly bureaucratic mandates that had increased the prices of everyday appliances and consumer goods.
These reforms, combined with tariff-generated revenue now surpassing $158 billion for the year, reflect a strategic approach that harnesses domestic policy and trade levers to strengthen the U.S. economy. The result is not only lower prices but also a reduction in the federal trade deficit, which is now down by more than 35%, and expectations of significant deficit reduction over the long term.
Despite these undeniable metrics of progress, many Americans still feel economic pressure. There are several reasons for this ongoing pinch. Economic shifts, especially after a period of historically high inflation, take time to ripple through local labor markets, supply chains and household budgets. Additionally, disruptions from global events and trade adjustments add complexity to price trends that cannot be resolved overnight.
However, the direction of change is unmistakable. Price stabilization, lower energy costs, rising real wages and increased employment are foundational gains that will continue to compound in the year ahead. Mr. Trump’s focus on supply-side reforms, energy independence and unrestricted domestic production positions the U.S. for even stronger outcomes, with more Americans poised to experience financial relief as 2026 unfolds.
The “America First” agenda is not a slogan. It’s a strategy grounded in economic data, practical policy reforms and measurable outcomes that restore confidence and opportunity to American families.
As Mr. Trump continues to implement policies that lower costs, expand opportunities and strengthen American sovereignty, the promise of broad-based prosperity grows ever clearer, and the relief long promised but too long delayed is finally arriving.
• Jorge Martinez is the national director for Hispanic outreach for the America First Policy Institute. He previously served as press secretary for the U.S. Department of Justice.
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