Trump’s ‘Golden Age’ Remains a Myth

Rowan Ashford

Published: February 11, 2026 11:16 PM ET

Economic indicators revealed a surprising development in the U.S. job market, causing varied interpretations from political leaders. Last month’s employment figures reported a gain of 130,000 jobs, sharply contrasting projections of a weak job market. This uptick caught the attention of former President Donald Trump, who proclaimed the news on social media.

Trump’s Perspective on Job Growth

Trump shared his enthusiasm, stating, “Just in: GREAT JOBS NUMBERS, FAR GREATER THAN EXPECTED!” He further remarked on the potential for the U.S. to negotiate lower interest rates on its bonds, claiming this could save over $1 trillion annually and herald a “Golden Age of America.”

Job Creation Statistics

130,000 new jobs added in January 2026.
Revised job numbers from the previous two years indicated a loss of nearly 900,000 positions.
Healthcare and social assistance accounted for 124,000 of the new jobs.

This revision process underscores challenges in accurately assessing employment trends, particularly regarding business closures and openings. While Trump interprets these figures as a sign of economic revival, they align with private economists’ concerns over the overall stability of the job market, characterized by “low hire, low fire” dynamics.

Federal Reserve Challenges

Trump’s expectations regarding interest rate cuts face obstacles. Incoming Federal Reserve chief Kevin Warsh may find it difficult to lower rates amid job market stability and persistently high inflation, currently around 3%. Previous forecasts predicting a rate cut in June have now been adjusted to July.

Financial Implications of Trump’s Policies

U.S. national debt rose from approximately $36 trillion to $38.6 trillion within a year of Trump’s presidency.
The Congressional Budget Office projected a $1.9 trillion deficit this year, potentially growing to $3.1 trillion by 2036.

Despite Trump’s assertions regarding interest savings, economic analysts dispute his calculations. A significant reduction in interest rates would necessitate unrealistic negative rates that could deter lenders.

Long-Term Economic Outlook

While recent job data suggests a momentary improvement, economists caution against overly optimistic interpretations. The current labor market shows signs of stabilization, but challenges remain. The overarching economic landscape still struggles with high debt levels, a net debt-to-GDP ratio surpassing 100%, and forecasted growth that raises concerns about sustainability.

In summary, while Trump’s proclaims of a “Golden Age” resonate with supporters, a more cautious assessment reveals ongoing vulnerabilities in the U.S. economy. Stability in job creation does not necessarily reflect robust economic health.