US EditionTrump blames Biden ‘overhang’ after GDP shrinks in first quarter, says growth will ‘take a while’
- The U.S. economy shrank at a 0.3% annual rate in Q1 2025, prompting President Trump to blame a lingering Biden 'overhang'.
- This contraction followed Trump's first 100 days in office, during which the economy showed signs of slowing and rising prices affected middle-class families.
- In response, the stock market fell sharply, with major indexes like the S&P 500 down over 7% year-to-date amid concerns of recession risks.
- A senior trade official from the White House explained that the decline in GDP was a temporary occurrence resulting from a rise in imports, which reduce the calculation of economic output.
- Democrats argued Trump's policies may push the economy into recession, while Trump predicted a future boom after removing the Biden 'overhang'.
339 Articles
339 Articles
Trump Called Out Using His Own Past Tweet After He Tried To Blame The Economy On Biden
After President Donald Trump declared that former President Joe Biden is to blame for for current stock market performance—saying "this is Biden's stock market, not Trump's" in a rant on Truth Social—people quickly fact-checked him for previously taking credit for the stock market when Biden was in office.A preliminary estimate shows the U.S. economy contracted by 0.3% in the first quarter of Trump’s second term, a sharp contrast to the 2.4% GDP…
Hinson blames Biden, not Trump's tariffs, for 1st quarter's downturn - Radio Iowa
A new report from the U.S. Department of Commerce shows the nation’s economy just had its weakest quarter in three years, which Iowa Congresswoman Ashley Hinson blames on the policies of the previous administration. Hinson, a Republican from Marion, says the recent downturns in consumer confidence, the stock market, and the gross domestic product are […]
Can Trumpian Volatility Be Mitigated? | by Qiyuan Xu - Project Syndicate
The US economy’s current travails can be traced directly to the president, who has emerged as the economy’s most destabilizing factor. In such circumstances, traditional policy instruments, honed over decades of economic management, are not fit for purpose.
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