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Stock Market Concerns Ignite Discussion on The View
The recent decline in stock values has reignited discussions among the cohosts of The View, who aim to clarify the narrative surrounding economic performance amidst rising fears of a recession. The panel is particularly focused on countering claims from President Trump and his administration, which have sought to attribute the fall to the policies of the Biden administration.
During a segment aired on March 11, the cohosts reviewed a clip in which Trump evaded a question regarding potential recession consequences stemming from his economic policy decisions, including implementation and threats of tariffs against major trade partners like Canada and Mexico. Instead of directly addressing the issue, he referred to a forthcoming “period of transition.”
In response, Whoopi Goldberg presented a factual overview of the economic landscape that Trump stepped into when he assumed office in January. “This [interview] contributed to the market’s significant drop yesterday, with some supporters of Trump attributing the blame to Biden’s management of the economy. Let’s take a moment to reflect on what Biden’s administration has accomplished,” Goldberg stated. She shared notable statistics, asserting the creation of 16.6 million jobs and a 12.6 percent growth in gross domestic product (GDP) during Biden’s tenure, emphasizing that this administration stands out as the first in history to generate jobs consistently every month. She further highlighted the lowest average unemployment rate seen in fifty years and a remarkable increase in median household wealth—adjusted for inflation—rising by 37 percent.
Goldberg continued, “There have been challenges, as there always are, but it’s important not to hold all the current economic issues against him.”
Joy Behar then contributed to the discussion, citing historical trends, “In the modern era, ten out of the eleven recessions began under Republican presidents. Economies generally perform well under Democratic leadership; they often leave behind a surplus, which is then followed by deficits once Republicans take over.”
She raised the question of public perception, asking, “Why is there a lack of understanding regarding the economic history tied to both parties?” Behar further elaborated, attributing the distraction to cultural issues such as ‘wokeism’ and transgender rights, suggesting that these topics serve to divert attention from pressing financial matters: “Once people start to feel the pinch in their Social Security checks, there will certainly be a response.”
When it was Griffin’s turn to speak, she acknowledged the strong economic indicators from Trump’s first term before the pandemic but criticized his current economic approach. “The market’s gains following Election Day have been wiped out since he has taken charge. Initially, he adhered to traditional Republican principles of fostering economic growth—tax cuts and deregulatory policies—but this time, he has implemented tariffs more broadly, leaving businesses unable to plan effectively.”
Goldberg chimed in humorously, likening the unpredictable tariff situation to the “Hokey Pokey,” leading to an engaging atmosphere among the cohosts. She predicted that although Republicans may initially give Trump some leeway to rectify the economy, a lack of improvement could create significant challenges by the time midterm elections arrive.
Sunny Hostin pointed out an important fact: Trump’s administration left a record-high national deficit. Griffin attributed this to the pandemic, but Hostin countered with a perspective that emphasized the need for accountability regarding the pandemic’s response, attributing significant casualties to mismanagement. She referenced expert opinions indicating that the probability of a recession has surged to 40 percent, expressing her astonishment that more scrutiny isn’t directed at Trump for the economic turmoil his decisions may be causing.
Sara Haines added her insights, highlighting that the inconsistent tariff policies are damaging consumer confidence, complicating decision-making for business owners amid uncertainty regarding orders and supply chains. “People are in a state of worry. They don’t know if to place orders or hold back,” Haines stated. “There’s an overarching sense of caution, especially among those relying on fixed incomes, as people are becoming conservative with their finances.”
Goldberg concluded the segment by noting the rising anxiety among the public surrounding Trump’s economic policies, mentioning the detrimental impact of cuts to USAID on U.S. farmers and hinting that Republicans might soon need to address these concerns.
The View airs weekdays at 11 a.m. ET on ABC.
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