I’m still thinking about affordability and last Tuesday’s election. My latest obsession is the cost of the Walmart Thanksgiving package. President Trump said that figure is 25% lower this year than last year. So, I did a little fact-checking. It’s actually 28% less. Even better. In 2024, the Walmart Thanksgiving bundle cost around $53 for 21 different products. This year it costs around $38 for 15 different items. So there are six fewer items, but it’s $15 less.
You’re all probably hoping I don’t go over every element of this riff. You’re right, I’m not going to do it. However, the butterball turkey, which I think people would agree is really the main product, costs $13.01 for 13.5 pounds. That’s 97 cents per pound, the lowest price since 2019. Which, by the way, was the last time Mr. Trump was president. And Target says its Thanksgiving bundle is the lowest price ever.
This doesn’t exactly settle the affordability issue in President Trump’s favor, but it’s a pretty good head start in his favor as the Thanksgiving holiday approaches.
The inflation rate since Mr. Trump was sworn in has averaged about 2.5%. During the Biden years, that figure was more than twice as high, or about 5.5%. And sure enough, that figure peaked at 9%, the worst in 40 years. The Atlanta Fed’s wage index shows 4.1% through August. And even with 2.5% inflation, that means workers’ real wages are increasing by about 1.5%. They fell during the Biden years and, frankly, most of Mr. Trump’s supply-side tax cuts, deregulation and energy dominance are only just starting to take effect.
Next year, up to $200 billion in tax refunds will be delivered to America’s large middle class, further boosting affordability.
So, good accessibility and even if it’s early, happy Thanksgiving too.
