On November 13, 2025, President Donald Trump signed a bill ending the latest U.S. government shutdown, bringing a sense of relief to federal workers and Wall Street alike. According to Bloomberg, stocks held their gains as the news broke, with investors seemingly breathing a collective sigh of relief after weeks of uncertainty. But even as the shutdown came to a close, a debate over the state of the American economy was heating up, with the president and his critics painting starkly different pictures of everyday affordability.
Just days earlier, on November 7, Trump had doubled down on his message of economic strength and accessibility. In a summit with Hungarian Prime Minister Viktor Orbán, he declared, “The reason I don’t want to talk about affordability is because everybody knows that it’s far less expensive under Trump than it was under Sleepy Joe Biden.” Trump didn’t stop there; he insisted, “every price is down,” and “gas is nearly $2,” touting what he described as a dramatic turnaround in energy and inflation. But according to reporting from multiple outlets, including a detailed analysis published by Bloomberg, these claims don’t match the reality many Americans are experiencing at the checkout counter or the gas pump.
The facts on the ground tell a more complicated story. Grocery prices in 2025 have risen, with record costs for staples like beef and coffee. Gas prices, far from Trump’s $2 claim, hovered around $3 in November, a level not seen since March 2020. Electricity bills have surged by 11% over the past year. And inflation, which many hoped would cool, actually ticked up to 3% in October 2025, compared to 2.6% the year prior.
It’s not just food and fuel putting pressure on wallets. The labor market, once a pillar of Trump’s economic messaging, is showing signs of strain. Job growth has slowed and layoffs have become more common, leading to a palpable sense of unease. Consumer sentiment, as tracked by surveys and reported by Bloomberg, has slumped to its lowest level since mid-2022, a time when inflation was making headlines for hitting a 40-year high under President Biden. The housing market, too, has grown more inaccessible: the share of first-time homebuyers has dropped to a record low of 21% this year, underscoring just how tough it’s become for young families to get a foothold.
Despite these trends, the Trump administration has continued to highlight selective data points to bolster its narrative. On November 11, the White House cited findings from the inaugural DoorDash State of Local Commerce Report, specifically its “Breakfast Basics Index,” as evidence of economic improvement. While the report’s four-item index may have shown some positive movement, critics argue that cherry-picking such narrow data doesn’t reflect the broader economic reality facing most Americans.
One example that’s drawn particular scrutiny is Trump’s repeated reference to Walmart’s reduced price for Thanksgiving dinner. As Bloomberg notes, the president has touted this as proof of falling prices. However, the lower cost is largely due to Walmart including less food in its meal package and relying more on its budget-friendly Great Value private brand, rather than name brands. When NBC pressed Trump on this point, he reportedly dismissed the question as “fake news.”
Even some of Trump’s most reliable media allies are starting to question his economic optimism. On November 10, Fox News host Laura Ingraham—usually a staunch defender of the president—pressed him during an interview. She pushed back against his claim that the economy is “as strong as it’s ever been,” asking pointedly why so many Americans remain anxious about their finances if that’s the case. Ingraham also questioned the wisdom of his proposal to extend the standard 30-year mortgage to 50 years, and poked fun at the new gold decor in the Oval Office, joking about whether it had been purchased from Home Depot. While Ingraham returned to her supportive stance soon after, the moment was notable for its rare on-air skepticism.
Trump’s Treasury secretary, billionaire hedge fund manager Scott Bessent, has also acknowledged trouble spots in the economy. Bessent admitted, “There are sectors of the economy that are in recession,” a candid assessment that reportedly did not sit well with the president. Such admissions stand in contrast to Trump’s broader message of economic triumph, and may resonate with voters feeling the pinch of rising costs and stagnant wages.
The president’s strategy, as described by Bloomberg and other outlets, has often involved denying or downplaying negative economic indicators. This approach helped him sow doubt about his 2020 election defeat and dismiss criticism of his popularity. But when it comes to the price of groceries or gas, denial is a tougher sell. As the high-spending holiday season approaches—and with health insurance premiums set to rise for many—Americans are finding it harder to square the administration’s rosy rhetoric with their own lived experiences.
Some political observers suggest that Trump’s messaging could backfire. While former President Biden struggled with perceptions of a “vibecession”—a disconnect between positive economic data and public sentiment—Trump may be facing an even more challenging reality. The gap between what the administration is saying and what people are actually experiencing appears to be widening, as reflected in the president’s declining approval ratings. According to Bloomberg, this dissonance is now bipartisan, with even some of Trump’s traditional supporters expressing skepticism.
It’s true that the government shutdown has delayed the release of some official economic data, which might temporarily help Trump’s case. But there’s no shortage of other indicators suggesting that many Americans are under financial strain. Sticker shock at the grocery store, rising energy bills, and the struggle to buy a first home are not easily dismissed by political spin—no matter how persistent or skillful.
Ultimately, the end of the shutdown offers a brief respite, but the debate over affordability and economic reality is far from over. As the White House continues to tout selective successes and critics point to mounting evidence of hardship, the American public is left to navigate the gap between rhetoric and reality. Whether Trump will be able to convince voters to see things his way—or whether their own bank accounts will tell a different story—remains to be seen.
For now, the country is open for business again, but the question of who can truly afford to participate in its prosperity lingers on.
