Biden grasping at straws: not a recession

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Celticguy

New member
https://www.axios.com/2022/07/25/biden-recession-economy-gdp-growth

Slow Joe takes lying to a whole new level this week trying to blunt the impact of this week's coming economic data releases by attempting to move the goal posts as to what a recession is (or is not).

Its well past time he accepts that people are not as stupid as he is.

I realize its hard to accept that you are rapidly cementing yourself as perhaps the biggest failure ever as president but he has only himself to blame.

President Biden said Monday he does not think the U.S. will experience a recession despite decades-high inflation that's showing signs of easing up.Why it matters: The Commerce Department will release its initial estimate of second-quarter growth Thursday. If it shows that gross domestic product has fallen again, the U.S. would be in the colloquial definition of a recession, which is two consecutive quarters of contraction.

  • In the first quarter of 2022, the U.S. economy contracted at a 1.4% annual rate, the first time it shrank since the spring of 2020 at the onset of the pandemic.
What they're saying: "We're not going to be in a recession, in my view," Biden said. "The unemployment rate is still one of the lowest we've had in history. It's in the 3.6% area. We still find ourselves with people investing."

  • "My hope is we go from this rapid growth to a steady growth, so we'll see some coming down. God willing, I don't think we're going to see a recession," he added.
Yes, but: The White House has argued that even if the number turns out to show a second straight quarter of negative growth, the U.S. economy was almost certainly not in a recession in the first half of this year, Axios' Neil Irwin reports.

  • In following other definitions of a recession, the White House Council of Economic Advisers recently contended that other economic indicators — such as employment, inflation-adjusted consumer spending and industrial production — do not point to a recession.
The big picture: Treasury Secretary Janet Yellen acknowledged Sunday that the U.S. economy is slowing down, but she also pushed back against the idea the U.S. has entered a recession, noting that many of the traditional recession signs are not apparent.
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July 25, 2022: President Biden said Monday he does not think the U.S. will experience a recession despite decades-high inflation that's showing signs of easing up.
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It's starting to look like Biden was correct
 
Celticguy said:
https://www.axios.com/2022/07/25/biden-recession-economy-gdp-growth

Slow Joe takes lying to a whole new level this week trying to blunt the impact of this week's coming economic data releases by attempting to move the goal posts as to what a recession is (or is not).

Its well past time he accepts that people are not as stupid as he is.

I realize its hard to accept that you are rapidly cementing yourself as perhaps the biggest failure ever as president but he has only himself to blame.
Click to expand...

Bullshit, and anything but a lie, the overwhelming majority of Americans don’t even know what is a recession is, and Yellen confirmed, “ noting that many of the traditional recession signs are not apparent.”
 
Celticguy said:
https://www.axios.com/2022/07/25/biden-recession-economy-gdp-growth

Slow Joe takes lying to a whole new level this week trying to blunt the impact of this week's coming economic data releases by attempting to move the goal posts as to what a recession is (or is not).

Its well past time he accepts that people are not as stupid as he is.

I realize its hard to accept that you are rapidly cementing yourself as perhaps the biggest failure ever as president but he has only himself to blame.
Click to expand...

most people already understand that the die hard bidenites will refuse reality in their support of any democrat. If they have to redefine things, they will. if they can't, they will steadfastly ignore it. if they can't, they will deflect.
 
SmarterthanYou said:
most people already understand that the die hard bidenites will refuse reality in their support of any democrat. If they have to redefine things, they will. if they can't, they will steadfastly ignore it. if they can't, they will deflect.
Click to expand...

This is coming from the poster ^ who yesterday, after criticizing the Fed, couldn’t tell us what the Fed was nor what it did, and now he is talking about “redefining things”
 
Celticguy said:
https://www.axios.com/2022/07/25/biden-recession-economy-gdp-growth

Slow Joe takes lying to a whole new level this week trying to blunt the impact of this week's coming economic data releases by attempting to move the goal posts as to what a recession is (or is not).

Its well past time he accepts that people are not as stupid as he is.

I realize its hard to accept that you are rapidly cementing yourself as perhaps the biggest failure ever as president but he has only himself to blame.
Click to expand...

Speaking of lying and bull shit, your post refers to the 1st quarter of 2022. Thats last year, my dear.
 
Celticguy said:
https://www.axios.com/2022/07/25/biden-recession-economy-gdp-growth

Slow Joe takes lying to a whole new level this week trying to blunt the impact of this week's coming economic data releases by attempting to move the goal posts as to what a recession is (or is not).

Its well past time he accepts that people are not as stupid as he is.

I realize its hard to accept that you are rapidly cementing yourself as perhaps the biggest failure ever as president but he has only himself to blame.
Click to expand...

We are not in a recession. Period. Full stop. Growth = NOT RECESSION. Why don't you learn something instead of coming here and posting your bullshit?
 
MAGA have been practically guaranteeing a Biden induced economic depression of unprecedented proportions for about three years now.
 
archives said:
This is coming from the poster ^ who yesterday, after criticizing the Fed, couldn’t tell us what the Fed was nor what it did, and now he is talking about “redefining things”
Click to expand...

this coming from a poster who believes a single justice knows the meaning of the 2nd Amendment, 200 years after the fact, even after being shown a dozen pieces of historical evidence proving otherwise
 
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