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In the wake of Republicans’ heavy election losses Tuesday, President Donald Trump is pointing to Walmart’s Thanksgiving meal deal as evidence that his administration has ushered in what he called a new “golden age” for the U.S. economy.
“Grocery prices are way down, and Walmart just announced that the cost of their standard Thanksgiving meal — this is the greatest, their greatest,” Trump told the American Business Forum on Wednesday. “It is 25% lower than one year ago. That’s a big deal.”
Walmart confirmed that its 2025 Thanksgiving meal bundle is about 25% cheaper than last year’s version — but it also contains fewer items. This year’s bundle, priced at under $40, includes 23 products, compared with 29 in 2024. Omitted items include onions, celery, sweet potatoes, chicken broth, muffin mix, marshmallows, whipped topping and pecan pie.
The retail giant said the smaller package still offers “traditional favorites” and serves 10 people for less than $4 per person, the lowest price since Walmart began the promotion. The 2025 meal includes fresh cranberries instead of canned sauce, and standard dinner rolls instead of pricier sweet Hawaiian rolls.
“Walmart’s 2025 abundant meal basket offers traditional favorites across national and private brands, for a full holiday feast serving 10 people for under $4.00 per person,” the company said in a news release.
Walmart declined further comment. The White House did not immediately respond to requests for comment.
Trump doubles down on affordability message
Since his Wednesday speech, Trump has repeatedly cited Walmart’s announcement as evidence of his administration’s economic success.
“Walmart just announced that prices for a Thanksgiving dinner is now down 25% since under Sleepy/Crooked Joe Biden, in 2024,” Trump wrote on Truth Social that evening. “AFFORDABILITY is a Republican stronghold. Hopefully, Republicans will use this irrefutable fact!”
The next morning, he posted again: “2025 Thanksgiving dinner under Trump is 25% lower than 2024 Thanksgiving dinner under Biden. My costs are lower than the Democrats on everything, especially oil and gas!”
At a separate White House event Thursday on drug pricing, Trump said Walmart’s announcement “is better than a poll,” calling it “a very powerful statement.”
Economic backdrop and voter frustration
The renewed focus on affordability comes after a disappointing night for Republicans, with Democrats outperforming expectations in key gubernatorial races and local contests that focused heavily on cost-of-living issues.
An NBC News poll released Sunday found that only 34% of voters believe Trump has met their expectations on the economy. In New Jersey and Virginia, Democrats Mikie Sherrill and Abigail Spanberger won by larger-than-expected margins on affordability platforms, while in New York City, Democrat Zohran Mamdani won the mayoral race on a cost-of-living message.
Grocery prices have stabilized but remain high relative to pre-pandemic levels. According to the Labor Department’s latest Consumer Price Index, released Oct. 24, food costs rose 0.2% month-over-month in September and 2.7% compared to a year earlier. Prices for staples like coffee and beef continue to climb.
The White House and economic strategy
The White House on Thursday promoted a separate Wells Fargo report showing that Thanksgiving meal costs are down 2–3% from 2024 across major retailers — including Walmart, Aldi, Lidl and Target — even as broader food prices remain elevated.
“It’s proof that under President Trump’s leadership, America is winning the war on high prices — even as Democrats grind the country to a halt with their deranged, reckless government shutdown,” the White House said in a statement.
White House deputy chief of staff James Blair told Politico that Trump “recognizes, like anybody, that it takes time to do an economic turnaround, but all the fundamentals are there.”
The president’s economic program has centered on sweeping tariffs, a smaller immigrant labor pool, and a midyear tax cut that administration officials say has increased take-home pay. Those tariffs — some exceeding 100% — are currently facing constitutional challenges before the Supreme Court.
“Our opponents are offering an economic nightmare,” Trump said Wednesday. “We’re delivering an economic miracle. We have delivered in nine months.”
Broader context and next steps
While Walmart’s lower-priced holiday basket has offered the president a timely talking point, economists note that overall price growth remains sticky — and that household budgets are still strained by rising rent, utilities and consumer debt.
Political strategists said Trump’s focus on a symbolic item like a Thanksgiving meal reflects both the power and the limits of the affordability narrative heading into 2026.
“People aren’t measuring the economy in terms of a turkey dinner,” said Karen Dynan, a former Treasury economist now at Harvard. “They’re measuring it by whether they can pay their bills.”
Trump, for his part, has signaled he plans to keep the message simple — and personal — as his administration battles criticism over tariffs, food costs and his ongoing government shutdown.
“To me,” Trump said Thursday, “that’s better than anything there is. That’s better than a poll.”
