GEOFF BENNETT: President Trump# addressed the nation last night## in a politically charged prime-time speech.

AMNA NAWAZ: In front of Christmas trees at# the White House, he blamed his predecessor,## Joe Biden, and the Democrats in general# for economic challenges and inflation.

Our White House correspondent,# Liz Landers, has this fact-check.

DONALD TRUMP, President of the# United States: Good evening, America.

LIZ LANDERS: As the first year of# his second term comes to a clos.. President Trump projected positivity.

DONALD TRUMP, President of the United# States: Over the past 11 months,## we have brought more positive change# to Washington than any administration## in American history.

There has never been# anything like it.

And I think most would agree.

LIZ LANDERS: The roughly 20-minute speech mostly# focused on the state of the economy, as new## polling shows Americans concerned about the price# of goods and souring on his handling of the issue.

In the latest PBS News/NPR/Marist poll, 57# percent disapprove of the job he's doing on## the economy.

Just 36 percent of poll respondents# approve, a record low across both his terms.

Throughout the address, the president falsely# referred to inflation as a solved problem.

DONALD TRUMP: When I took office,# inflation was the worst in 48 years,## and some would say in the history of# our country.

Inflation has stopped,## wages are up, prices are# down, our nation is strong.

LIZ LANDERS: As we reported earlier# in the program, inflation has slowed,## but year-over-year inflation remains higher# than the Federal Reserve's 2 percent target.## Inflation was at a four-decade# high in 2022 under President Biden,## but had been higher at multiple points in the# 20th century, most recently around 1980 at## nearly 14 percent.

It had fallen to 3 percent# by the time Trump took office in January.

DONALD TRUMP: The last administration and their## allies in Congress brought in millions# and millions of migrants and gave them## taxpayer-funded housing while your# rent and housing costs skyrocketed.

LIZ LANDERS: The president repeatedly pointed# his finger at both the Biden administration## and immigrants for rising costs.

Deportations# have been a major piece of the second Trump## administration's agenda, at times receiving# criticism for using potentially illegal tactics.

There is no clear evidence# that immigration substantially## contributed to rising housing costs for citizens.

DONALD TRUMP: Democrat politicians also# sent the cost of groceries soaring,## but we are solving that too.

LIZ LANDERS: Consumer Price Index data# actually shows that more grocery items## have increased in price this year than decreased.

DONALD TRUMP: The price of eggs# is down 82 percent since March## and everything else is falling rapidly,## and it's not done yet, but, boy, are we making# progress.

Nobody can believe what's going on.

LIZ LANDERS: The wholesale price# of eggs has fallen more than## 82 percent, but retail prices have# fallen just 44 percent from March## to September.

And the Consumer Price# Index rose by 3 percent in September.

DONALD TRUMP: Gasoline is now under# $2.50 a gallon in much of the country.## In some states, it, by the# way, just hit $1.99 a gallon.

LIZ LANDERS: This is an exaggeration.

Estimates# show that national gas prices averaged closer to## $2.90 per gallon, and while some stations# in certain states have prices below $2,## that's including membership promotions.

DONALD TRUMP: I negotiated directly with# the drug companies and foreign nations,## which we're taking advantage of# our country for many decades,## to slash prices on drugs and# pharmaceuticals by as much as 400,## 500, and even 600 percent.

In other words,# your drug costs will be plummeting downward.

LIZ LANDERS: While costs for# some drugs may drop next year,## the price cuts the president talked# about are not mathematically possible.## A 100 percent cut would mean# prescription drugs would be free.

DONALD TRUMP: I have secured a record-breaking# $18 trillion of investment into the United States,## which means jobs, wage increases,# growth, factory openings and far## greater national security.

Much of this# success has been accomplished by tariffs.

LIZ LANDERS: President Trump's own# White House Press Office has tallied## half of that number in investments, $9.6# trillion.

But that includes many informal## pledges from foreign countries# and already announced projects.

Qatar and the United Arab Emirates have# each pledged more than $1 trillion, but## that's more than their gross domestic products.# The president's speech included falsehoods and## hyperbole.

One of the only new initiatives he# announced was what he called a warrior dividend## for military service members.

But the money# comes from previously approved funds by Congress.

DONALD TRUMP: In honor of our# nation's founding in 1776,## we are sending every soldier $1,776.

Think of# that.

And the checks are already on the way.

LIZ LANDERS: He claimed that# tariffs and the Big Beautiful## Bill tax package will help pay for the dividends.

Senator Roger Wicker praised the move,# noting in a statement the $2.9 billion in## funding comes from the bill passed over# the summer.

It was allocated to offset## housing costs and cost of living increases# and meant to be doled out over two years,## instead of a lump payment.

But the funds# do not come directly from tariff revenue.

DONALD TRUMP: We're poised for an economic boom,# the likes of which the world has never seen.

LIZ LANDERS: The president ended his message# with defiance as he looked ahead to next year.

DONALD TRUMP: We are respected again# like we have never been respected before.

LIZ LANDERS: For the "PBS# News Hour," I'm Liz Landers.