Administration touts stock-market milestones, "record-setting" tax refunds and $12 billion in farm support

The President credited his administration with historic economic gains, saying the Dow and S&P reached levels he described as unprecedented and that "Americans filing their taxes this year are receiving record setting refunds." He announced that the administration had given farmers $12,000,000,000 from tariff receipts to help those who had been "mistreated by some countries."

Treasury Secretary Scott Bessett said economic strength underwrites national-security efforts, describing Treasury actions to cut off Iranian financial lifelines and measures to restore maritime traffic in the Gulf. "Your economic leadership has made our military mission possible," Bessett said, and he argued the U.S. dollar and capital flows show the economy's resilience.

The President also claimed steep reductions in drug trafficking by sea ("98% down" by his account) and forecast lower energy prices; his remarks combined economic boasts with policy moves to support specific constituencies such as farmers.