President Donald Trump speaks from the White House during a televised address on the economy.
President Donald Trump has promised Americans an economic boom, while blaming his Democratic predecessor Joe Biden for high living costs that continue to frustrate voters.
In a televised address from the White House on Wednesday, marking nearly a year since his return to office, Mr Trump said he had “inherited a mess” and was fixing it. He claimed prices for fuel and groceries were “falling rapidly”, despite polling that shows widespread concern about affordability.
The president announced a one-off “warrior dividend” of $1,776 for about 1.45 million US service members, to be paid before Christmas. The White House said the payments would be funded through tariff revenues. Mr Trump said the figure marked the year of US independence.
He also forecast a major economic upswing in 2026, when the United States will co-host the FIFA World Cup with Canada and Mexico. “We are poised for an economic boom the likes of which the world has never seen,” he said.
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Much of the speech focused on criticism of Democrats, migrants and Mr Biden, whom Mr Trump blamed for inflation and job losses. Democrats rejected his claims. Senate Minority Leader Chuck Schumer said the president was “disconnected from the reality” facing families, adding that prices and unemployment were rising.
Polls suggest the economy remains Mr Trump’s weakest issue. A PBS News/NPR/Marist survey published on Wednesday found 57% of Americans disapproved of his handling of the economy. A separate YouGov poll showed a majority believed economic conditions were worsening.
Economists say tariffs imposed by the administration have added to price pressures. Republican strategists are increasingly concerned about the impact on the party ahead of the 2026 midterm elections.
Mr Trump has stepped up domestic travel to promote his economic agenda, promising to “make America affordable again” at recent rallies. Vice President JD Vance has urged voters to be patient as the administration presses ahead with its policies.
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