Former President Donald Trump announced a new initiative to support U.S. servicemembers with a $1,776 “warrior dividend” payment during a televised address on Wednesday night. This program, benefitting approximately 1.45 million active-duty military personnel, is part of a broader economic strategy he outlined while criticizing the current administration’s handling of the economy.
In his 18-minute speech, Trump stated that the total amount to be allocated for the “warrior dividend” is $2.57 billion. That’s the same as £1.9 billion. He reiterated that these funds are all raised through tariffs. They come out of the “One Big, Beautiful Bill” he signed into law on July 4. As the previous president declared, “Checks are already on the way.” Friday, in response to mounting pressure, President Biden promised servicemembers they will get their earned payments before Christmas.
At the time of his address, Trump talked up his economic accomplishments. He framed the dividend as a celebration of the country’s birth in 1776. In doing so, he mentioned the previous president seven times, comparing their policies and the state of the economy favorably to his predecessor. Trump’s comments are set against a daunting economic backdrop. Inflation and the rising cost of living have been top concerns for voters.
Trump claimed that “now, under our leadership, they [prices] are all coming down and coming down fast.” Instead, he championed the “warrior dividend”—a far less common strategy—as a central goal. Should this initiative succeed, it will improve economic conditions for all Americans, particularly for those currently under arms. And in doing so, he placed much of the blame at the feet of President Joe Biden. He, too, took aim at the Democratic Party for the nation’s present economic woes.
The timing of Trump’s announcement coincides with notable shifts in public sentiment regarding economic issues. His approval ratings on economic issues have plunged 15 points since March, a sign that new scorching-hot inflation numbers sent Americans over the edge. Right now, only 36% approve of his handling of these crises. Consumer confidence has dropped to the lowest level since April. Widespread concerns over rising economic anxiety related to the cost of living, job security, and general economic uncertainty are fueling this dip.
Trump clearly recognized that the coming midterm elections would be difficult for incumbent candidates. He noted that the inflation consumer price index numbers released today show inflation has fallen to 3% for the first time since January. He understood that these factors were the main reasons why the Republican Party underperformed so badly in recent elections. He understood their effect on the results.
In light of all these challenges, Trump fortunately is very bullish on what the future will hold for our great country. He asserted, “When the world looks at us next year, let them see a nation that is loyal to its citizens, faithful to its workers, confident to its identity, certainly to its destiny, and the envy of the entire globe.”