President Donald Trump took to the Diplomatic Reception Room on Wednesday night to deliver a prime-time address to the nation, outlining his administration's accomplishments over the past eleven months and laying out priorities for 2026. The speech hit familiar themes: immigration, inflation, tariffs, and a healthy dose of criticism aimed at his predecessor.

Opening Shot: "I Inherited A Mess"

"Eleven months ago, I inherited a mess and I am fixing it," Trump began, launching into a critique of former President Joe Biden and Democratic policies.

Trump described inflation as "the worst in 48 years and some would say in the history of our country," claiming it drove prices "higher than ever before, making life unaffordable" for millions of Americans. He connected rising costs to what he characterized as an open-border crisis.

The president also touted mass deportations, stating his administration is targeting criminals. However, the Associated Press noted that independent analyses indicate many individuals without criminal records have also been deported.

The Treasury Was "Looted," Apparently

Trump accused the Biden administration of having "looted our Treasury" while asserting his own team was "bringing those high prices down, and bringing them down very fast."

As evidence, Trump claimed the price of a Thanksgiving turkey had dropped by 33%. He may have been referencing an American Farm Bureau report estimating that grocery store turkey prices fell about 16% compared to last year. But here's where it gets interesting: wholesale turkey prices actually increased this year, according to data from the Agriculture Department and a Purdue University study, the New York Times fact check team noted.

So, turkey prices are a bit of a mixed bag depending on which data you're looking at and where you're shopping.

Housing Reforms Coming (Details TBD)

Trump announced plans to introduce "some of the most aggressive" housing reform initiatives in American history. What those reforms actually entail? That part wasn't mentioned. No specifics, no timeline beyond the general promise that something big is coming.

Given that housing affordability remains a persistent concern for Americans across the economic spectrum, any concrete proposals will likely get plenty of attention once they materialize.

$1,776 Checks for Military Members

In one of the more concrete announcements of the evening, Trump revealed that military service members would receive a "warrior dividend" ahead of Christmas. "We are sending every soldier $1,776," he stated, adding that "the checks are already on the way."

Trump said over 1 million service members would receive the payment. The $1,776 figure is obviously a nod to the year of American independence, which ties into the administration's broader messaging around the upcoming 250th anniversary of the Declaration of Independence.

Tariffs: Trump's "Favorite Word"

Trump credited tariffs with driving many economic gains, calling them his "favorite word" and claiming they were bringing companies back to the U.S. "in record numbers." "They're building factories and plants at levels we haven't seen," he said.

The president painted a dramatic before-and-after picture: "One year ago, our country was dead. We were absolutely dead. Our country was ready to fail. Totally fail. Now we are the hottest country anywhere in the world and that's said by every single leader that I have spoken to over the past five months."

But tariffs are affecting consumers, just not quite the way Trump suggests. An October report from Goldman Sachs analysts found that American consumers could shoulder up to 55% of the associated costs. Which means when tariffs go up, you're probably paying at least part of the bill.

Energy Promises and the Price at the Pump

Trump promised that energy prices, including gasoline, have fallen and will continue to decline. The numbers, however, tell a slightly different story.

He claimed a national average gas price of $2.50 per gallon, while AAA reports the actual national average at $2.90. That's a 40-cent gap, which adds up when you're filling up your tank. Without providing evidence, Trump also said that household energy costs have dropped by $3,000.

Additionally, he pledged that "within the next 12 months" the U.S. will open 1,600 new power-generating plants, framing the move as a reversal of what he called "the Democrat inflation disaster." That would be an extraordinary pace of infrastructure development if it happens.

Looking Ahead to 2026: Olympics, World Cup, and a Big Anniversary

Trump concluded his address by highlighting the Olympics and World Cup soccer events scheduled to take place in the U.S. next year. He also noted that 2026 marks the 250th anniversary of the signing of the Declaration of Independence.

"There could be no more fitting tribute to this epic milestone than to complete the comeback of America that began just one year ago," Trump said before wrapping up with holiday wishes for viewers.

The Reality Check: What Voters Actually Think

Earlier this month, President Trump said that inflation is essentially gone, but many voters continue to feel the pinch from rising prices across a range of goods and everyday items.

A Morning Consult poll shows Trump holding a 45% approval rating, unchanged for the past three weeks. His disapproval rating also remains steady at 52%, giving him a net approval of -7.

When Politico asked what grade he would give the economy, Trump responded with an "A+," later adding that he would rate it an "A+++++."

Voters appear to strongly disagree. The poll found that 71% of Americans believe reducing consumer prices should be a "top priority" for the president, yet only 46% say Trump is treating it as such. That's a pretty significant gap between what people want and what they think they're getting.

The disconnect between Trump's victory lap on inflation and voters' lived experiences at the grocery store and gas pump may explain why his approval numbers haven't budged despite his optimistic economic messaging. For millions of Americans, the question isn't whether prices have technically stopped rising as fast. It's whether they can afford their lives.