In the first State of the Union address of his second term, President Donald Trump proclaimed that "our nation is back, bigger, better, richer and stronger than ever before." "What a difference a president makes," Trump said. "A short time ago, we were a dead country. Now we are the hottest country anywhere in the world." But our review of his speech found that he distorted a number of facts about the state of the economy, health care, immigration and other topics. Trump falsely claimed that he inherited "a stagnant economy" with "inflation at record levels." Annual growth in real GDP was 2.5% or higher each year under former President Joe Biden. The annual inflation rate was 3%, down from its peak of 9.1% under Biden, when Trump took office.