Trump Falsely Claims He Inherited a 'Stagnant Economy' from Biden in State of the Union

In his 2026 State of the Union address, President Trump claimed he inherited 'a nation in crisis, with a stagnant economy' from the Biden administration and that it is now 'roaring like never before.' Multiple fact-checkers rated this false. Annual real GDP growth was 2.5% or higher in each year of Biden's presidency, with 2.8% growth in 2024. The Economist had labeled the U.S. economy 'the envy of the world' in October 2024. Under Trump's second term, the economy grew 2.2% in 2025, lower than in any year of the Biden presidency. The employment-population ratio declined from 60.1% in January 2025 to 59.8% in January 2026, and job growth was significantly slower than under Biden.

"When I last spoke in this chamber 12 months ago, I had just inherited a nation in crisis, with a stagnant economy." — State of the Union address to joint session of Congress, February 24, 2026