Posted on 07/25/2022 3:43:08 PM PDT by RummyChick
President Joe Biden on Monday said the country is not going into a recession, doubling down on his administration's insistence that two quarters of economic decline isn't one - even though it meets the technical definition.
‘We're not coming into recession in my view,' he told reporters during a virtual meeting at the White House.
'The employment rate is still the lowest we've had in history. My hope is we go from this rapid growth to steady growth. And so we'll see we'll see some coming down. But I don't think we're going to, God willing, I don't think we're gonna see a recession,' he said.
Biden's administration has fanned out economic officials and written a detailed blog post to get ahead of Thursday's quarterly gross domestic product data, which could show a second quarter in a row of economic decline.
'In terms of the technical definition, it's not a recession, the technical definition considers a much broader spectrum of data points,' National Economic Council Director Brian Deese told CNN on Monday morning.
Some economists argue the country is already in a mild recession based on data from the Federal Reserve.
(Excerpt) Read more at dailymail.co.uk ...
he knows zip about economics....
Funny. Biden has no worries, they will just redefine “recession” to something not here yet.
(‘We’re not coming into recession in my view,’)
A guess a Depression Part Deux is somewhat different?
Wait till China invades Taiwan, that’s when the real fun begins with the Biden occupation.
‘We’re not coming into recession in my view,’ he told reporters during a virtual meeting at the White House.
Why anyone would care what his views are is beyond me. There is a recession coming.
“In my view”
Well that’s convenient.
Lucky for him if it does. That's where everything else goes to die.
Silly me, I thought a recession was defined as two consecutive quarters of negative GDP...
FJB isn’t smart enough to understand the business model of a lemonade sand...
President Retard wants you to know that inflation was only transitory until the recession arrives
Meaning we’re in one? It looks like it’s going to be significant.
He doesnt know what a woman is either..at least one that he cant sniff
I think the numbers are officially released on Thursday.
But yes, we’re in one.
revitalizing the neighborhood...
“Blase Biden dismisses recession fears - despite record inflation and nation bracing for second quarterly drop in GDP this THURSDAY”
This highlights the Democrats expertise. Create problems and then blame someone or something else for it.
He does not care. When has he ever cared. About anyone
Pretty sure Joetato meant the fraudulent unemployment number..
its a trans-economy
it identifies as a growing economy
the economy is heading in the same direction as biden’s polling numbers
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