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Fact Check: Joe Biden is responsible for the stock market on may 1st 2025

Fact Check: Joe Biden is responsible for the stock market on may 1st 2025

Published May 1, 2025
ByFactChecker 1.1 avatarFactChecker 1.1
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VERDICT
False

# The Claim: "Joe Biden is responsible for the stock market on May 1st, 2025" ## Introduction The claim that "Joe Biden is responsible for the stock ...

The Claim: "Joe Biden is responsible for the stock market on May 1st, 2025"

Introduction

The claim that "Joe Biden is responsible for the stock market on May 1st, 2025" has emerged amidst a backdrop of economic uncertainty and political blame-shifting. This assertion has been prominently made by former President Donald Trump, who has pointed to stock market performance as a reflection of Biden's policies. This article will explore the context of this claim, the current state of the stock market, and the various perspectives surrounding the issue.

What We Know

  1. Stock Market Performance: As of May 1, 2025, the U.S. stock market has experienced volatility, with reports indicating a contraction in the economy by 0.3% in the first quarter of 2025 5. This downturn has prompted discussions about the responsibility for market performance, particularly in light of Biden's presidency.

  2. Trump's Statements: Donald Trump has publicly blamed Joe Biden for the stock market's decline, stating, "This is Biden's Stock Market, not Trump's" 5. Trump has a history of attributing stock market performance to presidential leadership, often taking credit when markets are up and deflecting blame when they are down 6.

  3. Market Reaction: Analysts have noted that a 100-day timeframe is insufficient to evaluate the long-term performance of the stock market, suggesting that immediate reactions may not accurately reflect the underlying economic conditions 1.

  4. Public Perception: The discourse around the stock market and its relationship to presidential policies is heavily influenced by political narratives. Trump's comments have been met with skepticism from various commentators who argue that attributing stock market performance solely to Biden overlooks broader economic factors 34.

Analysis

The claim that Joe Biden is responsible for the stock market on May 1, 2025, raises several points for critical evaluation:

  • Source Reliability: The primary sources of this claim are statements made by Donald Trump and reports from various news outlets. Trump's statements, while direct, may be influenced by his political agenda and past behavior of taking credit for positive outcomes while deflecting blame for negative ones 610. This raises questions about the objectivity of his claims.

  • Economic Context: The stock market is influenced by a multitude of factors including interest rates, inflation, global economic conditions, and investor sentiment. The contraction of the economy in Q1 2025, as reported by multiple sources, suggests that attributing market performance solely to Biden's policies may be overly simplistic 5.

  • Methodological Concerns: Evaluating stock market performance requires a comprehensive analysis of various economic indicators over time. The assertion that Biden is responsible for the stock market's state within a short timeframe lacks a nuanced understanding of economic dynamics. Analysts have pointed out that a longer-term perspective is necessary to assess the impact of any administration's policies on the market 1.

  • Conflicting Perspectives: While Trump and some of his supporters argue that Biden's policies have led to poor stock market performance, others counter that such claims are politically motivated and ignore the complexities of economic management 34. This dichotomy illustrates the polarized nature of economic discourse in the current political climate.

Conclusion

Verdict: False

The claim that Joe Biden is responsible for the stock market on May 1, 2025, is deemed false based on several key pieces of evidence. First, the stock market's performance is influenced by a wide array of factors beyond presidential policies, including economic conditions, interest rates, and global events. The contraction of the economy by 0.3% in the first quarter of 2025 indicates that attributing market performance solely to Biden's leadership oversimplifies the situation. Additionally, the short timeframe of 100 days is insufficient for a comprehensive evaluation of the stock market's trajectory, as analysts suggest that longer-term trends are necessary for such assessments.

It is important to recognize that while political narratives often seek to assign blame or credit for economic outcomes, the reality is more complex. The evidence suggests that the claim is politically motivated and does not adequately reflect the multifaceted nature of economic management.

However, it is essential to acknowledge the limitations in the available evidence. The analysis relies on current economic data and political statements, which may evolve over time. As such, readers should remain aware that economic conditions can change and that future developments may influence the discourse surrounding presidential responsibility for the stock market.

In conclusion, readers are encouraged to critically evaluate information themselves and consider the broader context when interpreting claims related to economic performance and political accountability.

Sources

  1. Morningstar. "No, Donald Trump. This is your not Joe Biden's stock market. It's yours." Link
  2. NBC News. "President Trump says Joe Biden is responsible if the economy shrinks." Link
  3. Yahoo Finance. "Trump rips Biden for a weak stock market. He's deflecting the blame." Link
  4. The Independent. "Dave Portnoy isn’t buying Trump’s efforts to squirm out of..." Link
  5. Times of India. "US economy contracts 0.3% in Q1 2025; Donald Trump blames it on Biden." Link
  6. Business Insider. "Trump's Stock Market Play: Taking Credit Only When the Market Is up." Link
  7. Yahoo. "Trump says the stock market isn’t his. For now, GOP..." Link
  8. The Independent. "Dave Portnoy isn't buying Trump's blame stock market on Biden." Link
  9. Morningstar. "A final look at how the U.S. stock market performed under Joe Biden." Link
  10. Business Insider. "Trump's Stock Market Play: Taking Credit Only When the..." Link

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Fact Check: Transcript 00:00 For all of their strutting about protesting that they support democracy. Not a one of them gave a damn about democracy when they pulled Biden off the ballot and dropped Kamala Harris in without a single Democrat primary voter voting for him. And you know what? Not a single Democrat is here today because not a single one of them gives a damn about the fact that they lied to the American people for four years. They knew Every one of them knew that Joe Biden was 00:34 mentally not competent to do the job. The White House Press Secretary. She knew when she stood in front of the American people and lied over and over and over again and they're not here because they can't defend themselves. It wasn't a surprise for four years the White House hid President Biden from Republican Senators. Would not let him meet with us. He served 40 years in this body. We all know him. And they deliberately lied and by the way Jake Tapper had a bombshell 01:08 book exposing the incredible scandal that Biden's mental decline was covered up by Jake Tapper. There's a Yiddish word and that truly is how dare we lie and cover up what we all knew. Now I have been asked literally a thousand times by Texans. Was running the country? And I'm going to give 01:40 you the most terrifying answer. I don't know. I genuinely don't know. And not a single Democrat here cares. The most telling proof of Biden's decline came with the signature of the president. The symbol of executive authority that was outsourced to a machine. Mister Wald you're a lawyer who served in the White House Council's Office. You understand the gravity of presidential action. Does the president's signature 02:10 carry legal and constitutional weight under article two? Yes. Is the act of signing an executive order or signing a law or granting a pardon a delegable duty of the president. Uh so in that opinion in 2005 from OLC they said essentially that an autopin could be used by a subordinate but the president's determination as to sign the document can never be delegated. Can that authority 02:41 be transferred to a staff or a machine without the president's explicit authorization? Never. And if you look at the statistics, the statistics are stunning. In 2021, President Biden issued 78 executive orders. None were signed with an auto pen. That first year the presidency, Biden I suppose was relatively lucid and 78 executive orders he signed by hand. The second year, however, we see the auto pen emerged. 03:15 The first auto pen executive order was issued on 15th 2022. After that day 100% of the executive orders issued in 2022 were signed by an autopen. In 2023 Biden issued twenty-four executive orders. 16 were auto penned. In 20twenty-four Biden issued 19. 14 were auto penned. In twenty twenty-5 Biden issued fourteen executive orders every single one was auto pins. 03:52 Mister Wald let me ask you as a legal matter if there's a law that's passed both houses of Congress and it goes to the White House and a staffer autopins signing that law without the president's authorization is that law legally passed and signed in the law? No. If an executive order is issued and a staffer autopins it without the president's authorization, is that executive order legally binding? No. And if a pardon issued from the President of 04:22 the United States and a staffer auto pens it without the president's authorization. Is that pardon legally binding? No. Under the Biden White House the ceremonial song hailed to the chief was effectively replaced with hail to the pen and it was an outright assault on democracy and every reporter covering this ought to ask why doesn't a Democrat care? We heard about the moral responsibilities of a staffer. 04:54 How about an elected senator who knows damn well that if we get into a war and Iran is preparing to fire a nuclear weapon at the United States that the commander in chief is busy playing with his jello and he's not competent to defend ourselves and every member of the cabinet, the chief of staff, the press secretary, and the members of Congress who lied about this on a daily basis with the press's complicity. They are all responsible for subverting democracy. Angry Ted Cruz is perhaps my favorite version of 05:27 Ted Cruz because when he's getting history on it, you might want to take a listen. He is definitely angry that there's some acting going on here in the line of hail to the chief change from hail to the pen that's not a smart line but it's still the truth. The truth is in this video right here ladies and gentlemen. The change in the way Joe Biden used the autopin is a steady upward moving graph from twenty twenty-one to the end of his presidency in early twenty 05:58 twenty-five. Okay? That is a noticeable issue. And if he does not directly authorize the autopin we've got We've got grounds to go through every single law Joe Biden has signed that way and perhaps ignore them all together. There's way more evidence behind the autopin theory and hopefully it ends up sticking. I I hope it does because I think this is in a way worse than the Bill Clinton perjury case. Cuz Bill 06:28 Clinton basically lied before Congress lied directly to the American people lied under oath. This is worse in a way. Because lying under oath means that you know where the truth is and you're just hoping to get away with it and there's a direct law. This however Signing with the auto pin is more opaque. It is an ultimate he said she said and you're dont rate the opinion oo just fact if there is

Detailed fact-check analysis of: Transcript 00:00 For all of their strutting about protesting that they support democracy. Not a one of them gave a damn about democracy when they pulled Biden off the ballot and dropped Kamala Harris in without a single Democrat primary voter voting for him. And you know what? Not a single Democrat is here today because not a single one of them gives a damn about the fact that they lied to the American people for four years. They knew Every one of them knew that Joe Biden was 00:34 mentally not competent to do the job. The White House Press Secretary. She knew when she stood in front of the American people and lied over and over and over again and they're not here because they can't defend themselves. It wasn't a surprise for four years the White House hid President Biden from Republican Senators. Would not let him meet with us. He served 40 years in this body. We all know him. And they deliberately lied and by the way Jake Tapper had a bombshell 01:08 book exposing the incredible scandal that Biden's mental decline was covered up by Jake Tapper. There's a Yiddish word and that truly is how dare we lie and cover up what we all knew. Now I have been asked literally a thousand times by Texans. Was running the country? And I'm going to give 01:40 you the most terrifying answer. I don't know. I genuinely don't know. And not a single Democrat here cares. The most telling proof of Biden's decline came with the signature of the president. The symbol of executive authority that was outsourced to a machine. Mister Wald you're a lawyer who served in the White House Council's Office. You understand the gravity of presidential action. Does the president's signature 02:10 carry legal and constitutional weight under article two? Yes. Is the act of signing an executive order or signing a law or granting a pardon a delegable duty of the president. Uh so in that opinion in 2005 from OLC they said essentially that an autopin could be used by a subordinate but the president's determination as to sign the document can never be delegated. Can that authority 02:41 be transferred to a staff or a machine without the president's explicit authorization? Never. And if you look at the statistics, the statistics are stunning. In 2021, President Biden issued 78 executive orders. None were signed with an auto pen. That first year the presidency, Biden I suppose was relatively lucid and 78 executive orders he signed by hand. The second year, however, we see the auto pen emerged. 03:15 The first auto pen executive order was issued on 15th 2022. After that day 100% of the executive orders issued in 2022 were signed by an autopen. In 2023 Biden issued twenty-four executive orders. 16 were auto penned. In 20twenty-four Biden issued 19. 14 were auto penned. In twenty twenty-5 Biden issued fourteen executive orders every single one was auto pins. 03:52 Mister Wald let me ask you as a legal matter if there's a law that's passed both houses of Congress and it goes to the White House and a staffer autopins signing that law without the president's authorization is that law legally passed and signed in the law? No. If an executive order is issued and a staffer autopins it without the president's authorization, is that executive order legally binding? No. And if a pardon issued from the President of 04:22 the United States and a staffer auto pens it without the president's authorization. Is that pardon legally binding? No. Under the Biden White House the ceremonial song hailed to the chief was effectively replaced with hail to the pen and it was an outright assault on democracy and every reporter covering this ought to ask why doesn't a Democrat care? 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