Dave Portnoy Shoots Down Trump Claim that Stock Market Fall Is Biden’s Fault: ‘Direct Reflection of Trump’s 1st 100 Days’

Dave Portnoy/X

Barstool Sports founder Dave Portnoy didn’t buy President Donald Trump’s claim that Wednesday’s poor economic report was due to the previous administration.

After Trump’s second term hit the 100-day mark, it was reported Wednesday that the U.S. economy had contracted for the first time since 2022. In the first quarter of 2025 — most of which occurred under Trump’s presidency — gross domestic product dropped 0.3%.

In response to the news, Trump took to Truth Social to blame the report on the supposed lasting effects of President Joe Biden and insist that his tariff plan will remedy it. He said:

This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden “Overhang.” This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!

Later that morning, Portnoy posted a screenshot of the post on X/Twitter to push back on Trump’s excuse.

“What’s that old expression? Don’t piss down my back and tell me it’s raining? Well that applies here,” Portnoy said. “The stock market is a direct reflection of Trump’s 1st 100 days in office. Doesn’t mean it won’t get better and that we don’t need to be patient, but this is his market not Biden’s.”

Although Portnoy voted for Trump, he hasn’t shied away from criticizing the administration. The Barstool founder repeatedly raged at the tariff-fueled stock market crash after losing millions and has also insisted he’s not “some crazy MAGA guy.”