The Speaker of the House indicated that President Trump thinks about Americans’ financial situation constantly. But the President was given a softball question from a reporter asking about whether he considered Americans’ financial situation when dealing with Iran – his answer, “not even a little bit”. I think that’s true, and his administration has repeated predictions of gas prices coming down quickly with the war over (mind you, our Transportation Secretary is on a 6 week taxpayer paid family road trip so he might not be aligned with the lives of typical Americans). Actual experts don’t see gas prices falling this year – war or no war – with the supply chain damages incurred in the Middle East.

Prices are on the rise, again, and while the Iran War is a catalyst it is not the only catalyst. Healthcare costs rose rapidly in 2026, with commercial insurance premiums rising at record rates (as insurers raised rates to compensate for an expected sicker pool with some ACA tax credits eliminated by the Big Beautiful Bill) and even Medicare premiums went up nearly 10%. Food price inflation hit the highest levels since the post-COVID supply chain levels (and beef prices will be on the rise after the Trump Administration pushed China to import American beef that is already in shorter supply in the US), and utilities costs are rising rapidly as well, just in time for an especially intense El Nino setting in to heat up the place. And it is unlikely to get any better soon – wholesale price inflation jumped to an annualized 6% in April – which will work its way into consumer prices in the coming months.

Gas prices aren’t the only thing impacting inflation. It was only a matter of time before companies began to pass along their additional tariff costs to consumers – 2026 is that time. Between the Federal Reserve and the Tax Foundation, there is agreement that tariffs reduce personal income and raise prices – the only question is when and by how much. And while the Fed isn’t changing their benchmark overnight interest rates today, the bond market is having their own say, raising rates on 2 yr, 10 yr, and 30 yr Treasury debt to levels not seen in some time. The 10 yr is the benchmark for mortgages, so improvement in the housing market may need to wait. And some Fed insiders are cautiously suggesting that higher inflation could lead to higher short term interest rates (as if the downward pressures on the economy right now weren’t enough!).

Even the President has experienced inflation in one of his pet projects – the reflecting pool on the National Mall. The costs to repair and repaint the pool have risen from an initial $1.8 million to $13.1 million on the no-bid contract that was let to the President’s swimming pool contractor (if it was good enough for his golf club in VA, then it would be good enough for America!). Mind you, who knows what this project might have actually cost if it went out for bid and was fulfilled by contractors with experience doing this sort of work. But costs are not generally a consideration for a President that sues his own administration for $10 billion in order to pick the pocket of the American taxpayer (plenty of scuttlebutt on this misuse of government dollars this week). And since the money doesn’t come out of the President’s own pocket, what does he care?

And the national disgrace continues…