As the U.S. officially entered a recession, the Biden White House attempted to explain it away (all without using the “R” word) by basically saying this is all part of a necessary transition:
Coming off of last year’s historic economic growth – and regaining all the private sector jobs lost during the pandemic crisis – it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation. But even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure. Our job market remains historically strong, with unemployment at 3.6% and more than 1 million jobs created in the second quarter alone. Consumer spending is continuing to grow. Earlier this week, I met with the Chairman of SK Group from Korea, just one of the companies investing more than $200 billion in American manufacturing since I took office, powering a historic recovery in American manufacturing.
My economic plan is focused on bringing inflation down, without giving up all the economic gains we have made. Congress has an historic chance to do that by passing the CHIPS and Science Act and Inflation Reduction Act without delay.
Former President Barack Obama obviously agrees and says this is what “progress” looks like:
This has been a big week for the Biden Administration and Democrats in Congress. First, Congress is on track to pass a bipartisan bill that will lower the cost of everything from cars to consumer goods, and make us less dependent on foreign semiconductors.
— Barack Obama (@BarackObama) July 28, 2022
This kind of economic optimism while entering a recession is a little easier to find when you’re sitting in your beachfront mansion on Martha’s Vineyard:
Then President Biden and Democrats in Congress announced a deal that will fight inflation by reducing the cost of prescription drugs, cutting the deficit, and making the biggest investments in history to boost clean energy and tackle the climate crisis.
— Barack Obama (@BarackObama) July 28, 2022
I’m grateful to President Biden and those in Congress – Democrat or Republican – who are working to deliver for the American people. Progress doesn’t always happen all at once, but it does happen – and this is what it looks like.
— Barack Obama (@BarackObama) July 28, 2022
Does anybody actually believe the “Inflation Reduction Act” spending will do anything except worsen inflation? And if entering a recession with high inflation while Dems seek to spend more money and raise taxes is what “progress” looks like, count us out.
Sky high gas prices, 40 yr. high inflation, a shrinking economy/recession and Billions funding war in Eastern Europe, or as Democrats call it, Progress. The chaos is by design. https://t.co/fLa42bphXY
— Christopher Wood (@CJWood71) July 28, 2022
Biden and the Dems make it clearer by the day that the chaos is by design.
https://twitter.com/NorCalispurple/status/1552664775011622912
While sounding the alarm about climate change from his oceanfront mansion.
Also, there are those who say that Barack Obama is actually the one calling the shots for the Biden administration and Dems, and if that’s the case he’s not taking his own 12-year-old advice:
FLASHBACK — Barack Obama in 2010:
"You don't raise taxes in a recession."
"The last thing you want to do is to raise taxes in the middle of a recession."
Democrats in 2022 during the #BidenRecession: Let's raise taxes! pic.twitter.com/K49IZW3WBx
— Steve Guest (@SteveGuest) July 28, 2022
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Related:
Bingo! Carol Roth knows where the Biden WH economic gaslighting is headed
