President Donald Trump promised that 2026 would be a bumper year for economic growth. Instead it's kicked off with job losses, rising gasoline prices and more uncertainty about America’s future. In his recent State of the Union address, Trump said "the roaring economy is roaring like never before.” The latest batch of data on jobs, gasoline prices and the stock market suggests otherwise. There's a gap between the boom that Trump has predicted and the results he's produced. And that could set the tone in this year’s midterm elections as he tries to defend Republican majorities in the House and Senate.
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The White House says President Donald Trump will use his State of the Union address to argue he and the Republicans in control of Congress are best suited to continue tackling the public's concerns about the cost of living. Trump plans to announce that tech companies involved in artificial intelligence are agreeing to pay higher electricity rates in areas where their data centers are located. The president also could use the address to proclaim the economy is booming while endorsing increased military spending and tighter voter ID rules leading up to November elections that will determine political control of Congress. Several Democrats in Congress plan to skip Trump’s speech in protest, while Virginia Gov. Abigail Spanberger.
Shown is the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026, ahead of President Donald Trump's State of the Union address Tuesday. (AP Photo/Matt Rourke)
