WASHINGTON — President Donald Trump delivered his State of the Union address on Tuesday, Feb. 24, 2026, outlining a year of economic recovery, border security, and what he called a ‘turnaround for the ages.’ The speech, transcribed by The Associated Press, highlights claims of record reductions in inflation, a secure border, and a booming economy, all while marking the path toward the 250th anniversary of American independence.

Economic Growth and Inflation Reduction

Trump opened his speech with a confident tone, asserting that the United States is ‘bigger, better, richer and stronger than ever before.’ He emphasized that under his leadership, the nation has experienced a transformation in just one year, claiming that the economy is ‘roaring like never before.’ According to the president, core inflation has been driven down to the lowest level in more than five years, with a notable drop to 1.7% in the last three months of 2025.

Gasoline prices, which had reached over $6 a gallon under the previous administration, are now below $2.30 in most states, with some areas reporting prices as low as $1.85, the lowest in four years. Trump also noted a significant decline in the annual cost of a new mortgage, down nearly $5,000 since he took office. He credited this to lower interest rates, which he said will solve the ‘Biden-created housing problem’ while protecting home values.

Border Security and Crime Reduction

The president emphasized the success of his border policies, stating that the U.S. now has the ‘strongest and most secure border in American history.’ He claimed that in the past nine months, zero illegal aliens have been admitted to the United States, a stark contrast to the previous administration’s policies. Trump also highlighted a 56% reduction in deadly fentanyl across the border in one year and a record decline in the murder rate, the largest in recorded history, with the lowest number in over 125 years.

‘In the last year, the murder rate saw its single largest decline in recorded history,’ Trump said. ‘This is the biggest decline, think of it, in recorded history, the lowest number in over 125 years.’ He added that the success of these policies has restored the American spirit and reestablished national respect.

Investment and Job Growth

Trump pointed to a surge in new investment, stating that in 12 months, his administration secured commitments for more than $18 trillion in global investments. This, he said, is a dramatic contrast to the previous administration, which he claimed brought less than $1 trillion in new investment over four years.

‘What a difference a president makes,’ Trump said. ‘A short time ago, we were a dead country. Now we are the hottest country anywhere in the world.’ He added that the U.S. has added 70,000 new construction jobs in a short period and that American oil production has increased by more than 600,000 barrels a day. Trump also noted the receipt of over 80 million barrels of oil from Venezuela, a new partner in energy production.

He credited his administration’s policies with ending ‘DEI’ in America, cutting job-killing regulations, and lifting 2.4 million Americans off of food stamps. Trump also noted that all jobs created under his administration are in the private sector, a point he emphasized as a key achievement.

Honoring Champions and the Path Ahead

Trump closed his speech by honoring the U.S. men’s Olympic hockey team, who had just won gold in a dramatic overtime victory over Canada. He announced that the team would be receiving the Presidential Medal of Freedom, a high civilian honor, with a particular nod to goalie Connor Hellebuyck, who had made a crucial save during the game.

‘I want to thank you all. What a special job you did. What special champions you are,’ Trump said. He also mentioned the upcoming visit of the women’s team to the White House, emphasizing the pride he felt in their performance.

Looking ahead, Trump said that the U.S. is on a path to continued success, with the 250th anniversary of American independence in July 2026 as a landmark moment. He urged Americans to continue the momentum and to ‘win again,’ stating that the nation is ‘winning so much that we really don’t know what to do about it.’