The US economy shrank by 0.3% in the first quarter, disappointing expectations of 0.4% growth, according to the US Commerce Department. This decline reflects increasing imports and reduced consumer and government spending. President Trump's tariffs and trade policies have contributed to instability, prompting fears of a prolonged economic slowdown. Trump's response blamed his predecessor Joe Biden for the downturn, claiming the country needs to eliminate "Biden's Overhang" for economic recovery. This economic data marks a significant moment in Trump's second term, highlighting challenges ahead.
The downturn in real GDP in the first quarter reflected an upturn in imports, a deceleration in consumer spending, and a downturn in government spending.
This is Biden's Stock Market, not Trump's. Our Country will boom, but we have to get rid of the Biden 'Overhang.'
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