President-elect Donald Trump, fresh off his “Person of the Year” designation by Time magazine, reiterated his promise to bring down household costs, laying out a strategy focused on unleashing American energy and tackling the “broken” supply chains. Trump’s plan offers a stark contrast to the bloated policies of the Biden administration, which many blame for fueling inflation with reckless spending and overregulation.
Trump told Time that his strategy hinges on a two-pronged approach: ramping up domestic energy production and addressing lingering supply chain issues. “I think energy is going to bring [prices] down. I think a better supply chain is going to bring them down,” he said, pointing out the need for significant reforms to make everyday essentials more affordable. “The supply chain is still broken,” Trump noted—a fact most Americans feel in their wallets every day.
The numbers back him up. Studies from the Federal Reserve and the National Bureau of Economic Research have shown that supply chain disruptions were a major driver of inflation during the pandemic and beyond. Even now, while global supply chain pressures have eased, the aftershocks of extreme disruptions continue to ripple through the economy. But let’s not kid ourselves—supply chain issues were just one part of the problem. As economist EJ Antoni pointed out, “We didn’t have inflation simply because supply chains were snarled; we had inflation because the government spent, borrowed, and printed trillions upon trillions of dollars it didn’t have.”
Trump’s strategy to fix this mess includes reducing America’s dependence on offshore supply chains. His proposal to cut the corporate tax rate from 21 percent to 15 percent for companies manufacturing in the U.S. aims to incentivize domestic production while creating jobs at home. He also plans to streamline the federal workforce by transitioning more government employees to private sector roles, boosting productivity and reducing taxpayer burdens. “This country is bloated with rules, regulations, and with, frankly, people that are unnecessary,” Trump told Time.
Of course, Democrats are already panicking at the idea of cutting red tape and shifting federal workers into jobs that might actually produce something of value. But that’s par for the course for a party more focused on climate hysteria and DEI initiatives than on addressing real economic challenges. While Biden spent the past four years blaming inflation on everything from Putin to the weather, Trump is poised to take real action to restore prosperity.
Trump’s broader vision also includes rolling back stifling regulations and renegotiating trade policies to strengthen American industry. His “America First” approach remains focused on bolstering domestic production, creating jobs, and reducing costs for families. “We’re going to see what happens,” Trump said. But if his track record is any indication, he’s about to remind America what real leadership looks like.
