The Economy Is Back on Track Under President Trump

After falling to an 11-year low during the Biden Administration, new polling shows “Americans’ faith in the economy and direction of the nation is back on track and shooting higher” amid President Donald J. Trump’s relentless America First agenda.

In fact, the share of Americans who say gas prices are a “major problem” is down by 15% over last year; the same is true for housing costs (down 11%) and grocery prices (down 8%). Meanwhile, small business owners are feeling renewed optimism driven by a sharp rise in approval “across the political spectrum” for President Trump’s economic policies.

Here’s why:

• Homeownership is more affordable: Mortgage rates have fallen to a three-year low — finally making the American Dream more accessible for Americans after millions of illegal immigrants drove housing costs up under Biden.
• Driving costs less: Americans are spending the smallest share of their disposable income on gasoline since 2005, while the annual cost to own and operate a new vehicle is down by nearly six percent over last year and gas prices are lower across the board.
• Americans are spending like never before: Retail sales are booming — up 5% over last year, far outpacing inflation — as Americans spend in record amounts.
• Americans are earning more: After inflation outpaced wages for 26 straight months under Biden, real wages have increased nearly every month since President Trump took office — driven by historic wage gains for blue-collar workers, which are rising at the fastest rate in six decades.
• Retirements are booming: The stock market is booming, with the Dow, S&P 500, and Nasdaq all hitting new record highs. In fact, the S&P 500 is up nearly 15% and the Nasdaq is up more than 21% since Election Day.
• An industrial renaissance is here: President Trump has secured nearly $9 trillion in U.S. investment — nearly nine times more than Biden attracted in his entire four-year term — as companies report a resurgence in competitiveness thanks to the landmark reforms of the One Big Beautiful Bill.