Earlier today President Biden set the stage for the White House to blame God for any recession they actually admit to taking place, but that isn’t yet necessary. Biden press secretary Karine Jean-Pierre said today that not only is the U.S. not in a recession but the economy isn’t even close to one:
KJP: "Economic indicators…do not show that we are in a recession or even a pre-recession." pic.twitter.com/krVl2xzQUp
— Townhall.com (@townhallcom) July 25, 2022
The only thing that’s “historic” is Biden’s record low approval numbers.
What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle. Instead, both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data—including the labor market, consumer and business spending, industrial production, and incomes. Based on these data, it is unlikely that the decline in GDP in the first quarter of this year—even if followed by another GDP decline in the second quarter—indicates a recession.
“A recession is whatever we say it is, and this ain’t it.”
Two quarters of economic decline = RECESSION. It’s been that way for a hundred years. You’re not changing it now. https://t.co/ba8pHaZW20
— WestAustinAg (@WestAustinAg) July 25, 2022
Channeling her inner Baghdad Bob. https://t.co/f46gcc30PQ
— Rodger Hau 老板 🍜 (@catholiclawyer) July 25, 2022
Even Baghdad Bob might tell this administration to take the gaslighting down a notch.
Printing money, making oil unobtainable, and adding costs to transactions were supposed to make us rich. The confused White House urges faith. https://t.co/uZDqz9CJQ4
— Anthony Bialy (@AnthonyBialy) July 25, 2022
The Biden White House doesn’t want you to think GDP is an economic indicator. https://t.co/OnkLvyrRLK
— Spencer Brown (@itsSpencerBrown) July 25, 2022
Gaslighting is the only “solution” they have left. There’s only one conclusion remaining:
So… she's saying that we're in a depression.
Got it. 👍🏻 https://t.co/z6oLXcXTui
— Sean The Producer (@SeanTheProducr) July 25, 2022
Soon they’ll be changing the definition of “depression.”
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