Yes, we are in a recession
Several public figures representing the Biden administration went public on Wednesday and Thursday to claim the United States economy is not currently in a recession.
After literally changing the definition of what a recession technically is, the federal government rolled out multiple officials to dismiss the reality of America’s economic situation.
On Wednesday, Fox News reporter Peter Doocy asked White House Press Secretary Karine Jeane-Pierre why the administration is trying to “redefine recession.”
After claiming they’re not “redefining it,” Doocy pointed out the common understanding is that negative growth in two consecutive quarters qualifies as a recession.
“It is not,” Jeane-Pierre boldly told the American public.
A video posted by the Republican National Convention Research Twitter account exposed the hypocrisy of the administration.
Biden’s Director of the National Economic Council Brian Deese said in 2008 that the “technical definition of recession” is “two consecutive quarters of negative growth” before changing his tune on Tuesday.
Even CNBC freaked out over the news and said, “call it whatever you want,” but investors are going to see this as a recession regardless.
On Thursday, several prominent Democrats attempted to promote the false claim that America isn’t going through a recession.
Sleepy Joe Biden mumbled his way though a speech detailing a new federal “anti-inflation” bill before saying, “That doesn’t sound like a recession to me,” and walking off stage.
Regarding the fact that America is in a recession, Biden claimed we’re not because Federal Reserve Chairman Powell and other “significant banking personnel and economists” say so.
Skirting around the technical definition of recession, Federal Reserve Chairman Powell said he doesn’t “think” we’re currently in a recession.
US Treasury Secretary Janet Yellen argued we can’t be in a recession because “household finances remain strong” and “consumers are spending and businesses are growing.”
The transparent recession lies coming from the White House were widely mocked online.