04-30-2025, 01:56 PM
Floppo the Clown speaks
Trump blames Biden after GDP shrinks in first quarter, says growth will ‘take a while’
https://www.cnbc.com/2025/04/30/trump-gd...rhang.html
President Donald Trump on Wednesday blamed his predecessor and defended his sweeping tariffs after new data showed the U.S. economy contracting last quarter, while warning that his promised “boom” will “take a while.”
“This is [former President Joe] Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post.
“Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang,’” he claimed.
“This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote.
The defensive social media post came less than an hour after the release of a U.S. Department of Commerce report showing gross domestic product fell at a 0.3% annualized pace in the first three months of the year.
It was the first quarter of negative growth since Q1 of 2022.
A separate report earlier Wednesday morning showed that private payrolls rose by just 62,000 in April, far below the Dow Jones consensus estimate for an increase of 120,000.
Trump blames Biden after GDP shrinks in first quarter, says growth will ‘take a while’
https://www.cnbc.com/2025/04/30/trump-gd...rhang.html
President Donald Trump on Wednesday blamed his predecessor and defended his sweeping tariffs after new data showed the U.S. economy contracting last quarter, while warning that his promised “boom” will “take a while.”
“This is [former President Joe] Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post.
“Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang,’” he claimed.
“This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!” Trump wrote.
The defensive social media post came less than an hour after the release of a U.S. Department of Commerce report showing gross domestic product fell at a 0.3% annualized pace in the first three months of the year.
It was the first quarter of negative growth since Q1 of 2022.
A separate report earlier Wednesday morning showed that private payrolls rose by just 62,000 in April, far below the Dow Jones consensus estimate for an increase of 120,000.