US EditionTrump blames Biden ‘overhang’ after GDP shrinks in first quarter, says growth will ‘take a while’
- The U.S. economy contracted at an annual rate of 0.3% in the first quarter of 2025, according to government reports.
- This contraction occurred within 100 days of President Trump taking office in January, with some attributing the slowdown to a lingering Biden 'overhang.'
- Trump blamed Biden for the economic slowdown and stock market decline, while Democrats warned that Trump's policies risk pushing the economy into recession amid rising costs and chaos.
- Trump took to social media to assert that the current stock market performance reflects President Biden's tenure rather than his own. He insisted that the recent decline is unrelated to tariffs and expressed confidence that when economic growth resumes, it will be unprecedented.
- Peter Navarro, a trade advisor to the administration, described the recent GDP decline as a temporary occurrence caused by higher import levels and encouraged confidence that the economy will rebound.
198 Articles
198 Articles
Economy growth falters; Trump blames Biden
The U.S. economy shrank in the first three months of 2025, contracting by an annualized rate of 0.3% -- a stark reversal after nearly three years of solid growth, as tariff-related uncertainty upended spending patterns and raised fears of an…
Latest news from the White House as Trump blames Biden for economic slowdown
The U.S. economy shrunk in the first quarter of 2025, according to new data from the Commerce Department. It's the first time the economy shrank in the last three years, but President Trump is blaming former President Joe Biden for the numbers. CBS News' Fin Gómez and Kelly O'Grady have the latest.
'This is going great': Trump mocked as he ducks blame for 'stunning' economic news
President Donald Trump, the Trump White House, and top administration officials are insisting Wednesday’s first quarter negative GDP numbers — showing a contracting economy for the first time in almost three years, since COVID — are actually good news but also the fault of President Joe Biden.The New York Times characterized President Trump’s first quarter results as “a stunning reversal from the strong growth at the end of last year.”Speaking a…
Coverage Details
Bias Distribution
- 49% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
