Larry Kudlow: Thanksgiving Bundle Costs Down 28%, Real Wages Rising

Thanksgiving Bundle Affordability

• 🦃 Walmart's Thanksgiving bundle is actually 28% lower in cost this year compared to last year, exceeding President Trump's claim of 25%.
• 💰 In 2024, the bundle cost approximately $53 for 21 items, while this year it costs about $38 for 15 items, representing a $15 saving despite six fewer items.
• 🎯 The Butterball turkey, a main item, is priced at $1.31 per pound, the lowest since 2019, which was the last year of the Trump presidency.
• 🏷️ Target also claims its Thanksgiving bundle is the lowest price ever, contributing to the affordability narrative.

Inflation and Wage Growth Comparison

• 📈 Since President Trump's inauguration, the inflation rate has averaged about 2.5% annually.
• 📉 In contrast, the Biden years saw inflation more than double, averaging about 5.5% and peaking at 9%, the worst in 40 years.
• 📊 The Atlanta Fed wage tracker indicates real worker wages are rising around 1.5% through August, after accounting for inflation.
• 📉 Real wages actually fell during the Biden years.

Economic Policy and Future Outlook

• 🔑 Kudlow suggests that President Trump's supply-side tax cuts and deregulation policies are beginning to take effect.
• 💸 Next year, an estimated $200 billion in tax refunds are expected to benefit the American middle class, further bolstering affordability.