Lawmakers and consumers are feeling the pinch as rising prices across food, housing, and energy sectors highlight broken campaign promises on affordability.
Trump's Campaign Promise To Lower Prices Falls Short
Rep. Adam Schiff (D-Calif.) posted on X on Sunday, criticizing President Donald Trump for failing to deliver on his central campaign promise to lower prices.
"Donald Trump promised lower prices. By every conceivable metric – he has betrayed that promise," Schiff wrote.
In a video accompanying his post, Schiff recounted Trump's campaign pledge: "Starting on day one of my new administration, we will end inflation and we will make America affordable again because the prices are too high."
Tariffs, Health Care Cuts And Housing Policies Drive Cost Increases
Schiff said reality tells a different story: "It won't surprise you to learn…your costs are still going up, some of them, faster than ever. Food prices, in particular, have been rising—eggs up almost 16%, coffee up 14%, beef almost 11%."
He attributed the increases to Trump's tariffs, health care policy changes, and energy restrictions. "When Donald Trump places tariffs on other countries…that price increase gets passed on to you," Schiff said.
He also warned that health insurance premiums are expected to rise roughly 20% due to cuts in Medicaid and tax credits, and that housing costs are climbing because tariffs on lumber and deportations of construction workers are limiting supply.
Retirees And Housing Crisis Spotlight Rising Cost-Of-Living Challenges
Last month, a Nationwide Retirement Institute survey found that half of retirees were "terrified" that tariffs could erode their retirement income or savings, as new trade actions and rising costs increased anxiety over fixed benefits.
Nearly 63% believed tariffs would push inflation above next year's Social Security cost-of-living adjustment, projected at 2.7% for 2026.
Despite recent benefit increases, many said their checks still did not stretch far enough, with 61% reporting they could not survive missing half a monthly Social Security payment.
Survey respondents also cut discretionary spending (52%), pared back essentials (31%), or dipped into savings (29%) to cover higher costs.
Sen. Elizabeth Warren (D-Mass.) has also criticized Trump's trade and tariff policies, blaming them for a 40% spike in wholesale vegetable prices in July.
The largest summer monthly increase in nearly a century. She pointed to tariffs and labor shortages caused by deportations as key drivers of rising food costs.
Last week, Sen. Bernie Sanders (I-VT) highlighted the nation's worsening housing crisis, noting roughly 800,000 Americans were homeless and 20 million households spent more than half their income on rent or mortgages.
He criticized federal priorities, pointing to Medicaid cuts and $150 billion allocated to the military, and called for increased investment in low-income and affordable housing rather than tax breaks for the wealthy.
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Photo Courtesy: Marketlan from Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
