Perspectives on American Strength

The Case for America First Investing in 2026 — and Beyond

Three structural forces are converging in the American economy simultaneously — and 2026 is the year the data makes that convergence impossible to ignore.

In mid-2026, U.S. defense spending has crossed $1 trillion for the first time in American history.¹ AI infrastructure capital expenditure has been revised upward to $650 billion.² And AI-driven energy demand is projected to nearly double U.S. data center electricity consumption by 2028 — creating a structural tailwind for domestic American energy production unlike anything the sector has seen in a generation.³

¹ Arms Control Association, "U.S. Defense Spending Rises by More Than 17 Percent," March 2026. armscontrol.org ² Futurum Research, "AI Capex 2026: The $690B Infrastructure Sprint," February 2026. futurumgroup.com ³ Belfer Center for Science and International Affairs, Harvard University, "AI, Data Centers, and the U.S. Electric Grid: A Watershed Moment," February 2026. belfercenter.org

This paper makes the economic case for America First investing — not as a political statement, but as a durable, data-supported investment framework built on the structural forces reshaping the American economy in 2026 and beyond.