Economist Calls Trump's Claims About the Economy 'Literally a Lie'

University of Michigan professor Justin Wolfers says Trump is 'losing on affordability' despite his boasts.

Published on Feb. 22, 2026

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A prominent economist has strongly criticized President Donald Trump's claims about the state of the U.S. economy, calling them "literally a lie." Justin Wolfers, an economics and public policy professor at the University of Michigan, said during a TV interview that the latest economic data contradicts Trump's assertions that he has "won affordability." Wolfers accused the White House of printing misleading signs for supporters to hold up at rallies, arguing that the reality of rising inflation and slowing growth is "utterly clear to every one of us who goes to the store."

Why it matters

Trump has repeatedly touted the strength of the economy as a key part of his political messaging, so Wolfers' scathing rebuke of the president's claims could undermine that narrative. The debate over the economy's performance is also likely to be a major issue in the 2028 presidential election.

The details

In a speech last week in Rome, Georgia, Trump claimed that he had "won affordability." However, recent economic data shows that U.S. economic growth slowed to 2.2% in 2025 from 2.8% in 2024, according to the Bureau of Economic Analysis. Meanwhile, inflation increased more than expected in December, Reuters reported. Wolfers said the data proves Trump's story about the economy is "literally a lie" and accused the White House of printing misleading signs for supporters to hold up at rallies.

  • Trump made his claims about the economy in a speech in Rome, Georgia last week.
  • The latest economic data showing slowing growth and rising inflation was released in December 2025.

The players

Justin Wolfers

An economics and public policy professor at the University of Michigan who strongly criticized President Trump's claims about the economy.

Donald Trump

The former President of the United States who has repeatedly touted the strength of the economy as a key part of his political messaging.

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What they’re saying

“We all know it's a lie.”

— Justin Wolfers, Economics and Public Policy Professor (MS NOW)

“There are people in his White House who are printing signs with lies for people to hold up, because a lie is the best story that they've got to tell right now.”

— Justin Wolfers, Economics and Public Policy Professor (MS NOW)

“Morally, I find lying disgusting. Economically, I think the answer here is very simple, which is he's losing on affordability. He always declares victory. I'm not going to give the man's words any credence, but the reality is utterly clear to every one of us who goes to the store.”

— Justin Wolfers, Economics and Public Policy Professor (MS NOW)

What’s next

The debate over the state of the economy is likely to continue to be a major political issue leading up to the 2028 presidential election.

The takeaway

This case highlights the ongoing tensions between the Trump administration's rhetoric about the economy's performance and the actual economic data, which suggests that affordability and growth are significant challenges. Economists like Wolfers are pushing back forcefully against what they see as misleading claims from the White House.