Politics

Biden says Trump ‘doesn’t know what he’s talking about’ on economy

By Jake Beardslee · January 18, 2024

President Biden dismissed former President Trump’s recent comments about wanting to see the economy crash, saying Trump “doesn’t know what he’s talking about” when it comes to the economy.

Speaking in Raleigh, North Carolina on Thursday, Biden cited Trump’s remarks that he expects the U.S. economy to crash and that he hopes any crash happens before he would potentially take office again in 2025, The Hill reported.

“Did you hear he wants to see the stock market crash?” Biden said. “He wants to see the stock market crash. You know why? He doesn’t want to be the next Herbert Hoover.”

Biden argued Trump is already like Hoover, who was president when the 1929 stock market crash triggered the Great Depression. Biden has repeatedly said Trump is one of only two presidents who left office with fewer jobs than when they entered, the other being Hoover.

“My predecessor likes to say, ‘America is a failing nation.’ In my faith, bless me father for he has sinned,” Biden said. “I mean, come on. A failing nation?”

Biden touted his own economic agenda, saying public investment shrunk under Trump while factories closed. The president announced $82 million in new investments to expand high-speed internet access in North Carolina.

North Carolina is a key battleground state that Trump narrowly won in 2020 after losing it in 2016. The Biden campaign has increased its focus on North Carolina and other swing states ahead of the 2024 election.