US EditionTrump blames Biden ‘overhang’ after GDP shrinks in first quarter, says growth will ‘take a while’
- During the first quarter of 2025, the U.S. economy contracted by 0.3% when measured on an annualized basis, leading to a drop in stock prices on Wednesday morning.
- President Trump blamed the economic downturn on the 'Biden overhang' while Democrats argued his policies could lead to a recession amid rising costs and chaos.
- Trump emphasized positive aspects of the GDP report, dismissed tariff effects, and forecasted that economic growth would take time but eventually produce an unprecedented boom.
- Peter Navarro, an advisor on trade for the White House, described the recent GDP decline as a one-time occurrence driven by rising imports, which reduce economic activity measurements in calculations.
- The contraction signals slowing momentum within Trump's first 100 days, but he expects a recovery after removing the 'Biden overhang,' while unemployment remains at a healthy 4.2%.
357 Articles
357 Articles
‘Crooked Joe or Sleepy Joe?’: Trump fixates on Biden while deflecting blame during rocky first 100 days of presidency
WASHINGTON, May 2 — Six months after defeating Joe Biden, President Donald Trump is back in power but remains obsessed with his White House predecessor, taking every opportunity to blame the man who remains his greatest political bugbear. The country’s GDP fell in the first quarter because of the “overhang” from the Democrat’s presidency, Trump insisted Wednesday on his Truth Social network. Hours later during a cabinet meeting, he denied any li…
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 […]
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