Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. 250 years after America declared its independence, Treasury Secretary Scott Bessent says the economic experiment launched by the country's Founding Fathers has grown into something they could hardly have envisioned. And he believes America's best days may still be ahead. Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one JPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA.
Learn more with a free guide from Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes In a post on X, Bessent invoked some of the biggest names in American history while making a sweeping assessment of where the U.S. stands today. "Our Founding Fathers—George Washington, Thomas Jefferson, and Alexander Hamilton—could never have imagined the economy America has built today.
It is the envy of the world," he wrote (1). Accompanying the post was a clip from a recent Trump cabinet meeting, where Bessent similarly said America's founders "could not have imagined" the level of prosperity the nation enjoys today. Bessent also echoed Trump's assertion that record investment is pouring into the country, crediting Trump's policies for helping drive the economy forward.
"Thanks to President Trump's leadership—from digital assets and technological innovation to restoring American manufacturing—we are pulling away from the rest of the world," he said. But there is some economic data to back up Bessent's optimism. America already has the world's largest economy by GDP.
And the International Monetary Fund (2) expects the U.S. economy to grow 2.3% in 2026, well ahead of its 0.9% forecast for the euro area, 1.0% for the U.K. and 0.6% for Japan. The IMF specifically pointed to continued technology-related business investment and productivity strength as factors supporting the U.S. economy. America's private economy has also shown considerable momentum.
Real final sales to private domestic purchasers — a measure of consumer spending and private fixed investment — jumped at a 3.9% (3) annual rate in the second quarter. Corporate earnings provide another sign of strength. Of the S&P 500 companies that have reported second-quarter results so far, 86% (4) have beaten Wall Street's earnings-per-share expectations, while the blended year-over-year earnings growth rate stands at 50.4%.
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