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'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

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'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

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Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
PoliticsState of the Union

Days after his biggest defeat, Trump tells America ‘we’re winning so much’

By
Will Weissert
Will Weissert
,
Michelle L. Price
Michelle L. Price
,
Matt Brown
Matt Brown
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Will Weissert
Will Weissert
,
Michelle L. Price
Michelle L. Price
,
Matt Brown
Matt Brown
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
February 25, 2026, 9:27 AM ET
trump
President Donald Trump delivers the State of the Union address to a joint session of Congress in the House chamber at the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026. Kenny Holston/The New York Times via AP, Pool

President Donald Trump declared during a marathon State of the Union on Tuesday that “we’re winning so much” — insisting he’d sparked an economic boom at home and imposed a new world order abroad in hopes it can counter his sliding approval ratings.

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Trump’s main objective was convincing increasingly wary Americans that the economy is stronger than many believe, and that they should vote for more of the same by backing Republicans during November’s midterm elections. In all, Trump spoke for a record 108 minutes, breaking — by eight minutes — the previous time mark from his address before a joint session of Congress last year.

The president largely avoided his usual bombast, only occasionally veering off-script — mostly to slam Democrats. As he did during such addresses in his first term, Trump relied on a series of surprise special guests to dramatically punctuate his message. They included U.S. military heroes and a former political prisoner released after U.S. forces toppled Venezuelan President Nicolás Maduro.

Trump drew some of the loudest applause of the night when he invited the Olympic gold medal-winning U.S. men’s hockey team into the House chamber.

“Our country is winning again. In fact, we’re winning so much that we really don’t know what to do about it. People are asking me, ‘Please, please, please, Mister President, we’re winning too much. We can’t take it anymore,'” Trump said before introducing the team.

The hockey players, wearing their medals and “USA” sweaters, drew a bipartisan standing ovation. Trump pointed to the Democratic side of the chamber and quipped, “That’s the first time I ever I’ve ever seen them get up.”

In a made-for-TV moment, the president announced he would be awarding the Presidential Medal of Freedom, America’s highest civilian honor, to the hockey team’s goaltender, Connor Hellebuyck. He also bestowed the Purple Heart on Andrew Wolfe — a National Guard member who was shot while deployed on the streets of the nation’s capital. Wolfe made his first public appearance since then during the speech.

That scene recalled a similar surprise announcement in 2020, when Trump gave the Medal of Freedom to conservative radio host Rush Limbaugh during his State of the Union speech.

Trump decries tariff decision as justices look on

The president championed his immigration crackdowns and his push to preserve widespread tariffs that the Supreme Court just struck down. He drew applause only from Democrats while describing the high court’s decision, which he called “an unfortunate ruling.”

Trump vowed to plow ahead, using “alternative” laws to impose the taxes on imports and telling lawmakers, “Congressional action will not be necessary.” Trump argued that the tariffs are paid by foreign countries, despite evidence that the costs are borne by American consumers and businesses. “It’s saving our country,” he said.

The only Supreme Court justices attending were Chief Justice John Roberts, as well as Justices Brett Kavanaugh, Amy Coney Barrett and Elena Kagan. Trump greeted them personally before the speech, despite last week slamming Coney Barrett — who he appointed to the high court in his first term — for siding with the majority against his tariffs.

Democrats also stood for Trump vowing to halt insider trading by members of Congress. But Rep. Mark Takano, a California Democrat, yelled, “How about you first!” Rep. Rashida Tlaib, a Michigan Democrat, called out, “You’re the most corrupt president!”

When some heckling continued, Trump proclaimed, “You should be ashamed of yourselves.” Later, he pointed at Democrats and proclaimed, “These people are crazy.”

Democratic Rep. Al Green was escorted from the chamber early in the speech, after he unfurled a sign of protest that read “Black People Aren’t Apes!” That was an apparent reference to a racist video the president posted that depicted former President Barack Obama and First Lady Michelle Obama as primates in a jungle. Green was also removed during Trump’s address last year.

The president, meanwhile, was mostly optimistic and patriotic, but Trump struck a darker tone in large swaths of his speech to warn about the dangers posed by immigrants. He invited lawmakers from both parties to “protect American citizens, not illegal aliens” and championed proposals to limit mail-in ballots and tighten voter identification rules.

Affordability gets relatively little time

Trump didn’t dwell on efforts to lower the cost of living — despite polling showing that his handling of the economy and kitchen-table issues has increasingly become a liability. Such concerns about the high costs of living helped propel Democratic wins around the country on Election Day last November.

There also are persistent fears that tariffs stoking higher prices could eventually hurt the economy and job creation. Economic growth slowed in the last three months of last year.

It is potentially politically perilous ahead of November elections that could deliver congressional wins to Democrats, just as 2018’s blue wave created a strong check to his administration during his first term.

On Tuesday, Trump blamed his predecessor, former President Joe Biden, along with Democratic lawmakers in the chamber, saying they were responsible for rising prices and health care costs, two issues his political opponents have repeatedly raised against him.

“You caused that problem,” Trump said of affordability concerns. He added a moment later, “They knew their statements were a dirty, rotten lie.”

Trump also said he’d press tech companies involved in artificial intelligence to pay higher electricity rates in areas where their data centers are located. Such data centers tend to use large volumes of electricity, potentially increasing the cost of power to other consumers in the area.

Another notable off-script moment came as Trump was referencing prescription drug prices, saying, “So in my first year of the second term — should be my third term — but strange things happen,” prompting at least one chant in the chamber of “Four more years!”

Virginia Gov. Abigail Spanberger, who delivered the Democratic response to Trump’s speech, slammed the president’s aggressive immigration policies, his widespread cuts to the federal government and his tariffs.

“Even though the Supreme Court struck these tariffs down four days ago, the damage to us, the American people, has already been done. Meanwhile, the president is planning for new tariffs,” she said. “Another massive tax hike on you and your family.”

A warning to Iran

Trump’s address came as two U.S. aircraft carriers have been dispatched to the Middle East amid tensions with Iran. Trump said, “My preference is to solve this problem through diplomacy.”

“But one thing is certain, I will never allow the world’s number one sponsor of terror — which they are, by far — to have a nuclear weapon,” he added.

The president also recounted U.S. airstrikes last summer that pounded Tehran’s nuclear capabilities, and lauded the raid that ousted Maduro in Venezuela — as well as his administration’s brokering of a ceasefire in Israel’s war with Hamas in Gaza.

“As president, I will make peace wherever I can,” Trump said. “But I will never hesitate to confront threats to America, wherever we must.”

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