Joe Biden hits out at Donald Trump, saying 2024 rival wants stock market crash

Name: Trump clinches Iowa caucus as he seeks third consecutive nomination for US presidential election
Uploaded: 2024-01-19T02:59:55.000Z
Duration: 1 min 13 s
Description: Trump clinches Iowa caucus as he seeks third consecutive nomination for US presidential election

US President Joe Biden and Donald Trump are expected to face each other again in the November election

Biden jabbed predecessor during visit to Republican-leaning North Carolina, a state he narrowly lost in 2020

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US President Joe Biden promoting his economic agenda in Raleigh, North Carolina. Photo: AFP

Bloomberg

Published: 10:59am, 19 Jan 2024Updated: 11:00am, 19 Jan 2024

US President Joe Biden lambasted Donald Trump for comments casting the US as a “failing nation”, plugging his agenda in a Republican-leaning state he aims to pick up in November’s election.

The president during a Thursday event in North Carolina hit Trump for predicting the economy will crater and hoping any stock market crash happens under Biden’s watch.

“He doesn’t want to be the next Herbert Hoover. I told him: he’s already Hoover. He’s the only president to be president for four years and lose jobs, not gain jobs,” Biden said, referring to the president who was in office at the time of the 1929 market crash that triggered the Great Depression.

Trump in office touted Wall Street’s performance as a gauge – however imperfect – of his economic stewardship. The S&P 500 Index gained about 70 per cent during Trump’s tenure, compared with 24 per cent for Biden.

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Trump clinches Iowa caucus as he seeks third consecutive nomination for US presidential election

Biden has increasingly hammered Trump’s record, seeking to draw a contrast with his predecessor ahead of a likely general election matchup in which the president’s handling of the economy will take centre stage.