President Donald Trump blamed former President Joe Biden for current economic problems during a televised speech to the nation. He said his administration is working to fix issues like inflation and rising costs, which he claimed were left behind by Biden. The speech came at a time when many Americans are worried about the economy, and Trump’s approval ratings remain low.
Trump began his speech by saying he “inherited a mess” from the Biden administration. He blamed Biden for high inflation and also spoke about several cultural and political issues. These included transgender athletes in sports, what he called “open borders,” rising crime, and trade deals he described as the worst in U.S. history.
The president said that prices have gone down since he returned to office. He praised his main economic law, which he called the “Big Beautiful Bill,” and strongly defended his wide-ranging tariffs on foreign goods. Trump said the tariffs are working as planned and will bring more benefits to the American economy in the long term.
During the speech, Trump announced that all U.S. military service members will receive $1,776 checks before Christmas. He referred to these payments as a “warrior dividend” and suggested that the money comes from revenue raised through tariffs. However, he did not give clear details on how the payments would be funded.
Trump also claimed that he had secured $18 trillion in new investments for the United States. This number is much higher than what is shown on the White House website. Even the official figure includes unclear promises from foreign governments and deals that were announced before.
In addition, Trump said he had cut drug prices by “400, 500, and even 600 percent.” Experts say this is impossible, because a 100 percent cut would mean medicines are free. He did not provide evidence to support this claim.
The president also stated that gas prices have dropped to $2.50 per gallon nationwide and even reached $1.99 in some states. However, according to AAA, the national average gas price is closer to $2.90 per gallon.
Looking ahead, Trump said that next year he plans to introduce “some of the most aggressive housing reform plans in American history.” He did not explain what these reforms would include. He also said he will soon announce his choice for the next chair of the Federal Reserve. Trump said he wants someone who strongly supports much lower interest rates.
Finally, Trump promised that mortgage payments will continue to fall. Again, he did not provide specific details on how this would happen or when Americans might see the changes.
Published: 18th December 2025
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