To Iowans, This Doesn’t Feel Like the Golden Age

President Donald Trump says America is enjoying a golden age. He points to stock-market records, major investment announcements and economic growth as evidence that the country is prospering.

But prosperity looks different from an Iowa kitchen table. Families are still dealing with high grocery prices, rising insurance premiums, utility bills and housing costs. Farmers are watching the price of diesel and fertilizer while trying to make ends meet. And for households living paycheck to paycheck, another record on Wall Street doesn’t put more money in the checking account.

The question isn’t whether America’s economy is creating wealth. It’s who is benefiting from it.

What about Iowa’s workers?

Iowa’s unemployment rate stood at 3.2% in August. But the state also reported 7,500 fewer employed residents than a year earlier. A low unemployment rate offers little reassurance to workers who have lost their jobs or communities that are losing employment opportunities.

Americans are feeling the squeeze

Iowans aren’t alone in questioning how much prosperity is reaching their households.

The Conference Board reported that U.S. consumer confidence fell to 81.9 in September, down from 88.6 in August and its lowest level since 2014. Americans expressed growing concern about business conditions, employment and the cost of living.

That national survey doesn’t tell us exactly how Iowans feel, but it illustrates the gap between economic headlines and household finances.

A golden age, for whom?

For America’s wealthiest people, the numbers tell a different story.

According to Forbes, the combined wealth of the country’s 400 richest Americans reached a record $8 trillion in September, up from $6.6 trillion in 2025. That’s an increase of $1.4 trillion in estimated wealth in a single year, much of it tied to rising stock prices and company valuations.

The combined wealth of the Forbes 400 is $8 trillion, up $1.4 trillion from 2025.

An Iowa perspective

There’s nothing wrong with celebrating successful businesses, new investment or economic growth. But record fortunes at the top tell us little about whether ordinary families can afford their groceries, pay their bills or save for retirement.

For Iowans, prosperity isn’t measured by a presidential announcement or a stock-market record. It’s measured by what remains in the checking account after the bills are paid.

Trump’s golden age may be real for some Americans. The question is how much of that prosperity is reaching everyone else.