Pres. Trump blames Joe Biden for economic woes
Broadest measure of economic output fell unexpectedly
WASHINGTON (Gray DC) - President Donald Trump met with his Cabinet Tuesday. The same day, the Commerce Department released new data showing that the U.S. economy contracted in the first three months of 2025.
President Donald Trump is blaming Joe Biden for the slowdown and another decline in financial markets, following a key report showing the U.S. economy shrank from January to March.
Less than an hour after Commerce Department report showed gross domestic product declined 0.3 in the first three months of the year, President Trump writing on social media:
“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20.”
The President pointing fingers again at his predecessor during an afternoon Cabinet Meeting.
“This is Biden and you can even say next quarter is Biden because this doesn’t happen on a daily or hourly basis… But we’re turning it around, it‘s a big ship to turn around and we’re going to have the greatest country financially in the history of the world, I believe.”
The President reiterated that the public should be patient with his tariffs policy and said he’s confident that America will win the ongoing trade war with China.
“At a certain point, I hope we’re going to make a deal with China, we’re talking with China, but their factories are closing all over China because we’re not taking their product, unless they’re going to be fair with us, and that includes intellectual property and other things so there are a lot of things far beyond just buy-sell so we’ll see what happens.”
President Trump is also underscoring investing in America, inviting CEOs to the White House. The impact of those efforts will be seen Friday, with the April employment report.
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