
Biden called Trump a 'loser' and accused him of corruption on a scale 'never seen before.' The attack escalates a political feud that adds to market uncertainty around fiscal deadlines.
Former President Joe Biden called Donald Trump a “loser” on Saturday, accusing him of corruption on a scale “never seen before in American history.” The 10-minute speech at a Maryland Democratic Party fundraiser was Biden’s most forceful public attack on his successor since leaving the White House.
“It’s not just his vanity projects, tearing down the East Wing of the White House making room for his ballroom, putting his name on the Kennedy Center, building an arch in his own honor, even hiring his own pool guy to fix the reflecting pool. Woah! What a loser,” Biden said, according to Anadolu Agency.
Biden’s remarks zeroed in on Trump’s renovation projects, including plans for a new East Wing ballroom and upgrades to the Lincoln Memorial Reflecting Pool. Trump has said these efforts improve the appearance of the nation’s capital. Critics have questioned their necessity and cost, particularly as the administration has emphasized reducing government waste.
A USA TODAY review of federal contract records found the government had already allocated $8.5 million for reflecting pool repairs 20 days before Trump publicly announced the renovation in April. Trump had described the pool as “filthy” and “leaking like a sieve,” estimating repairs at $2 million.
Biden also attacked Trump’s push to use taxpayer money for defendants charged in the Jan. 6, 2021, Capitol riot. “These people don’t deserve to be compensated. They deserve to be put in jail for a long, long, long time,” Biden said.
The administration faces legal and congressional challenges over changes at the Kennedy Center and the new White House ballroom. Last week, a federal judge directed the Kennedy Center to explain why its front entrance was covered with scaffolding and a tarp after Trump’s name was removed from the building.
The immediate market impact is limited. No specific policy or spending bill is at stake. The episode adds to a backdrop of political noise that can amplify volatility around key events like debt-ceiling negotiations or budget deadlines. Traders said the broader risk is that escalating partisan attacks distract from legislative priorities and delay fiscal clarity.
The Kennedy Center legal case continues. No date has been set for the next hearing.
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