Trump Blasts Biden's Economy as 'Recession': 'What They're Doing Is Crazy'

Donald Trump slammed Joe Biden's economy in an appearance Monday, blaming the president for driving the U.S. into "a recession."

The former president addressed the stock market, gas prices and oil policies in a 15-minute phone segment that aired on Newsmax's Eric Bolling The Balance, where he said Biden and the Democrats have "destroyed" the economy.

"We had the greatest economy in the history of the world...especially just prior to COVID, or the China virus coming in, we had the greatest ever," Trump told Bolling. "I actually had the stock market higher than it was even before COVID. And then they destroyed it."

Trump said the economy "coasted for a year and a half" but is now in "a lot of trouble."

Donald Trump U.S. In Recession
Former President Donald Trump blasted Joe Biden’s economy in a segment Monday on Newsmax, telling viewers the country is “in a recession.” Here, he gives the keynote address at the Faith & Freedom Coalition during their annual "Road To Majority Policy Conference" at the Gaylord Opryland Resort & Convention Center June 17, 2022 in Nashville, Tennessee. SETH HERALD/GETTY IMAGES

"Our country has never been like this," he said. "And we're in serious danger with what's going on in Ukraine and with Russia. You can end up with a World War the way they're handling it. Crazy. What they're doing is crazy."

Trump disputed Biden's recent statement to the Associated Press that recession is "not inevitable," saying that it has already happened.

"I think we're in a recession," Trump told Bolling. "This is not something that's going to happen in two years...We're in a recession, and you're driving people into a recession. And people aren't working and it's not a good time."

According to the IBD/TIPP Economic Optimism Index, which came out on Friday, 53 percent of Americans agree the U.S. is already in a recession.

Trump said the economic difficulties started with energy and he blamed rising gas prices on "going green."

On Monday, an optimistic Biden told reporters in Rehoboth Beach, Delaware, that the state of the economy could spark a "fundamental turn" to green energy.

"We have a chance here to make a fundamental turn toward renewable energy, electric vehicles, and not just electric vehicles but across the board," Biden said.

Trump criticized Biden's policies on oil drilling and called for the U.S. to use its own "liquid gold."

"We have liquid gold right under our feet. And we were taking it like never before and now we're begging other countries to give it to us," he told Bolling. "But they're going green and green isn't powerful enough it can fire up our plants. Not even close."

Trump predicted gas prices will rise even more.

"I think it's going to be much higher than that ultimately, but it's not sustainable," he said.