President Trump says the high cost of living is a Democratic election-year hoax, but he’s doling out cash to voters like he understands inflation is an urgent problem for the GOP.
Mr. Trump has authorized dividend checks to troops, Medicare enrollees and some Obamacare customers. He has promised $5,000 to every adult citizen if Republicans win the House and Senate.
The president also is scrambling to lower the cost of diesel, which hit its highest level ever this summer because of the wars in Iran and Ukraine. He authorized the sale of red-dye fuel for road vehicles and struck a controversial deal with Russian President Vladimir Putin for hundreds of thousands of tons of Russian fuel.
Mr. Trump is pushing these 11th-hour actions to energize voters without help from Congress. But many analysts believe the effort to lower costs is too little, too late to save Republicans in November.
“You can’t stop a glacier with a flamethrower,” said Ross Baker, a politics professor at Rutgers University. “It’s not only the president who is saddled with these problems, but also his party in Congress.”
Polling shows little enthusiasm for the dividend plan. More than six in 10, or 63%, rejected the proposal in a Reuters/Ipsos poll, including nine in 10 Democrats and four in 10 Republicans.
Another survey found that only 21% thought Mr.Trump would “definitely” or “probably” follow through on the payments, while 57% doubted he would keep his pledge.
Ford O’Connell, a Republican strategist, said Mr. Trump is trying to “stem the bleeding” with his rebates as the GOP faces a tough cycle, especially in the House.
But he said Mr. Trump is also trying to give voters something tangible to combat a perception challenge about the economy, which still has a price hangover from rampant inflation during the Biden administration.
“He’s trying to come up with some deliverables,” Mr. O’Connell said. “Essentially, that’s what people need to see.”
As Election Day nears, inflation is heading in the wrong direction. Consumer prices rose 3.7% for the year ending in September, up from the 3.4% annual reading in August. It’s not nearly as bad as the 9.1% inflation during President Biden‘s spending spree in 2022, but the high cost of fuel is leading to voters’ discontent.
Wholesale prices rose 6.3% for the year ending in September, indicating the problem for consumers will get worse before it eases.
Mr. Trump boasted that he brokered an energy infrastructure ceasefire between Russia and Ukraine, but apparently nobody told Kyiv and Moscow, who continue to attack each other with abandon.
Mr. Trump’s waiver of sanctions on Russian diesel exports is troubling senators in both parties, who asked him to rescind the action. They say more money for Russia only fuels Moscow’s war on Ukraine.
“Granting Moscow the ability to sell Russian diesel freely in global markets damages American security interests and is a betrayal of the people of Ukraine, who continue to defend themselves from Putin’s murderous, illegal war,” the senators wrote in a letter to Mr. Trump.
On the campaign trail for Republican candidates, Mr. Trump can only urge voters to be patient, promising that prices will fall eventually when the wars end.
“As soon as it ends, the gasoline comes down, but remember, your prices, your gas prices, are lower than when Biden was president, and he didn’t do anything about Iran, the Islamic Republic of Iran,” Mr. Trump said in Ohio.
“You cannot let the number one state sponsor of terror have a nuclear weapon, and it was my honor.”