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BREAKING: U.S. Economy Shrinks in Early 2024 – Trump Blames Biden, Promises “Big Comeback”

The U.S. economy got smaller in the first three months of 2024, surprising many experts. This has sparked a heated political fight.

Former President Donald Trump quickly blamed President Joe Biden’s policies, calling them a failure. “We inherited a mess,” Trump said, pointing to high inflation and slow growth. He said his plan—focused on new tariffs—would bring businesses back to the U.S. and spark a huge recovery.

“Our comeback will be historic,” Trump promised. But he admitted it won’t happen right away.

Meanwhile, government data shows the economy shrank by 0.4% (annualized). Experts say people are spending less, and U.S. exports are struggling. However, unemployment remains low.

Trump denied that his tariffs would raise prices, blaming Biden instead: “The real problem is Biden’s numbers, not our solutions.”

Biden’s team pushed back, saying Trump is twisting the facts. They pointed to strong economic growth in 2023 as proof their plans are working.

As both sides argue, financial markets are nervous. The Federal Reserve is considering cutting interest rates to help the economy.

Key Points in Simple Terms:

The U.S. economy shrank at the start of 2024.

Trump blames Biden and says his tariffs will bring jobs back.