President Donald Trump is blaming former President Joe Biden for the current state of the stock market and the disappointing GDP figures. Trump’s remarks come after new economic data showed a 0.3% annualized decline in GDP during the first quarter of 2025, following a 2.4% annualized increase in the fourth quarter of 2024. In a post on Truth Social, Trump urged Americans to be patient, insisting that the economic challenges are a result of Biden’s policies.
This is Biden’s Stock Market, not Trump’s,” he wrote. “Our Country will boom, but we have to get rid of the Biden ‘Overhang.'”
However, not everyone is convinced by Trump’s attempts to shift responsibility. Barstool Sports founder Dave Portnoy criticized Trump’s claims on social media.
The stock market is a direct reflection of Trump’s 1st 100 days in office,” Portnoy stated. “Doesn’t mean it won’t get better and that we don’t need to be patient, but this is his market, not Biden’s.”
Trump’s stance appears to have changed since January 2024, when he eagerly claimed ownership of a rising stock market, attributing it to investor confidence in his potential re-election.
Trump shifts blame for economic woes
Now, with the recent downturn, he frames it as a lingering effect of Biden’s presidency. Data reveals that the stock market took a significant hit following Trump’s tariff announcements on April 2, losing $6.6 trillion in value over two days, marking the largest single-day decline in U.S. history. Although the market has somewhat recovered, it continues to face volatility.
For now, Trump’s GOP allies on Capitol Hill are playing along with his narrative. Sen. Thom Tillis of North Carolina told reporters, “That will work now. It won’t work six months from now.”
Most Republican senators declined to provide a specific timeframe for when Trump should take full responsibility for the economy. Sen.
Bernie Moreno of Ohio estimated that it would take about two years for Trump’s new policies to take effect. At the same time, Sen. Ted Cruz of Texas noted, “I think Joe Biden and the Democrats did enormous damage to the economy for four years. It takes longer than a couple of months to turn that around.”
As the economic landscape remains uncertain, public figures continue to challenge official narratives, fueling ongoing discussions about accountability and leadership during these tumultuous times.
