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 ...
His head was screwed up WAAAAY before he got covid!
“It’s not a recession unless it’s from the Recession region of France otherwise it’s just sparkling misery.”
Slow Joe the dancing sheethead makes a good little democrat.
He lies like a rug.
Brandon is correct that the country is not going into a recession. We are already there.
Well, if Math is racist, why the hell not?…
We’re just playing musical chairs now.
I am waiting for the New Revised definition of Recession. It’s coming.
Will the press ever turn if they just keep pretending and pretending? Probably not.
If Covid went to his head, what would it do there? Turn left and crash into a fire hydrant?
Silly me, I thought a recession was defined as two consecutive quarters of negative GDP...
Not any more. Now there are a multitude of factors that determine a recession, chief among them is the poor showing of Dims in the midterm election polls.
As well as the whims of a geriatric retard.
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