When the Commerce Department released a report on April 30 showing that the economy had shrunk during the first quarter of 2025 – the first such decline since 2022 – President Donald Trump was quick to respond. "This is Biden," he said, adding that "You could even say that the next quarter is sort of Biden [too]." Later that day, he told a group of corporate executives that "This is Biden’s economy." He capped his day by posting on Truth Social that "This is Biden’s Stock Market, not Trump’s."
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