Council of Economic Advisers

Under President Trump’s leadership, America’s economy is investing in its future rather than borrowing to consume cheap goods.

The evidence:

• Real federal gov't consumption is down 3.9% since Q4 2024

• Real business investment is growing at 6.9%, up from 3.8% in 2025 and 2.3% in 2024

•Public-company capex is on track to nearly double: $1.4T (2024) to $2.4T (2026)

• Capital goods just hit their highest share of U.S. goods imports on record while consumer goods hit their lowest

While we still run a trade deficit, borrowing to invest in the future is a far stronger position than borrowing to consume.

President Trump's agenda is working. CEA Chair Christopher Phelan in the @FT: ft.com/content/8c4059…

Our sincere condolences are with the family of Dr. Alan Greenspan, the 10th Chairman of the Council of Economic Advisers.

🚨Tax Day Stats🚨
Americans are benefitting from the largest tax refunds in history, thanks in large part to President Trump's signature policies in the Working Families Tax Cuts.

These new and enhanced provisions include No Taxes on Tips, No Taxes on Overtime, No Taxes on Social Security, No Tax on Car Loan Interest, an Enhanced Child Tax Credit, and an increase in the standard deduction.

CEA today released the 2026 Economic Report of the President, now available here: whitehouse.gov/cea/2026-erp/

🚨Jobs Day Data Dump🚨