President Donald Trump is trying to deflect blame as Wall Street fell on news that the U.S. economy shrank for the first time in three years, in Q1 2025. Trump claimed it was because of the Biden “Overhang” and had nothing to do with the panic over his tariffs.
During the 2024 campaign, the now-president would take credit for a booming stock market under his predecessor, Joe Biden, saying that it was because of expectations he would win the election. The Dow Jones Industrial Average and S&P 500 have had their worst performance in the first 100 days of an administration since 1973.
Answering a question from The Independent at Wednesday’s Cabinet meeting, the president even laid the groundwork to blame Biden for next quarter’s economic data.
Trump also suggested that in his trade war with China, American children may get fewer toys, which will also cost their parents more. Democrats are already pouncing on it as a new attack line.
The president marked his 100th day in office on Tuesday with a raucous rally in Michigan and a heated interview with ABC News journalist Terry Moran.
Democrats are finally passing the torch in Congress to the next generation
Eric Garcia writes:
Virginian Rep. Gerry Connolly announced Monday that he would have to step down as the top Democrat on the House Oversight Committee, and will not seek re-election.
Connolly’s announcement came only months after he beat out New York Rep. Alexandria Ocasio-Cortez to be head Democrat on the committee, despite the fact the 75-year-old Connolly learned shortly after the election that he had esophageal cancer.
Ocasio-Cortez has since left Oversight, and joined the Energy & Commerce Committee, which she always wanted to participate in since it deals with energy policy and health care, her two big priorities.
But it’s part of a larger trend happening within the Democratic Party: After years of valuing experience, and accusations of promoting a gerontocracy, the party is slowly passing the torch to its younger members.
Read on…
Dave Portnoy isn’t buying Trump’s efforts to squirm out of responsibility for his bad GDP figures
Graig Graziosi has the story.
Report: Hegseth’s wife taking on unofficial role managing his image at Pentagon
The wife of Defense Secretary Pete Hegseth took on an active role in managing his public appearances and even crafting messaging issued by the Department of Defense itself, a new report claimed on Wednesday.
Jennifer Rauchet, the Washington Post reported, often acts as a go-between who transmits her husband’s plans to agency staffers. The former Fox News producer does not hold an official position at the Pentagon but has been identified as a constant presence at the agency over the past several months.
John Bowden reports from Washington, D.C.
Trump to join NewsNation town hall event
Donald Trump is due to join a town hall event hosted by NewsNation anchor Chris Cuomo.
The event, taking place at 8 p.m. ET, will also feature appearances from Bill O’Reilly, Stephen A. Smith among others.
Discussion will center on the first 100 days of Trump’s administration.
IN FOCUS: Trump’s ‘honeymoon’ is meeting real resistance. Can he survive the blowback?
Alex Woodward reports on how, after 100 days in office, President Donald Trump’s agenda is facing pushback legally, economically, and in the polls.
Hegseth should quit ‘for his own safety’s sake’, says John Bolton
“No, I think he should resign for his own safety’s sake, if nothing else,” he said.
Gustaf Kilander reports on what else Bolton had to say.
CNN, which blasted Fox after Hannity appeared on Trump rally stage, shrugs off Scott Jennings doing the same
CNN has brushed off criticism aimed at Scott Jennings after the political commentator spoke at Donald Trump’s rally Wednesday night – claiming it’s standard practice for its paid contributors to make political appearances.
Justin Baragona has the story.
BREAKING: Trump admin signs Ukraine minerals deal in key move for Russian peace
Axios and Bloomberg reported the deal was to be signed on Wednesday, citing senior Ukrainian officials.
John Bowden is following this developing story in Washington, D.C.
‘This is not Joe Biden’s economy, Donald. It is your economy’
Democratic House Leader Hakeem Jeffries responded to President Donald Trump’s Truth Social post this morning claiming that the current economic turbulence was somehow still the result of Joe Biden’s policies.
Said Rep. Jeffries: “This is not Joe Biden’s economy, Donald. It is your economy. It is the Trump economy. It is a failed economy, and the American people know it.”
Watch his remarks below:
Vance says Trump’s first 100 days were about bringing change ‘very quickly’
Vice President JD Vance says the administration’s first 100 days were about hustling to bring major change but that, going forward, the pace of change may slow down moving forward.
“The next 100 days are going to be a lot of things that don’t change as quickly,” Vance said in an interview with Fox News Digital.
He said, “The first 100 days, you can get a lot done with just the president’s signature on a piece of paper.”
The vice president also noted that, by contrast, “the next 100 days are going to be a lot of things where we need Congress, and, in some cases, some of our international partners, to step up to the plate.”
He singled out proposed tax cuts working their way through Congress and said the finished product could “juice the economy a little bit.”
Source: independent.co.uk
