Due to his numerous failed initiatives, notably those relating to inflation and other detrimental economic aspects, President Joe Biden is becoming so unpopular even members of his own party are starting to criticize him.
Numerous economists have warned that these failing policies are to blame for the current recession, but the Biden administration has been trying really hard to provide a different picture of the situation in our nation.
On Monday, Fox News correspondent Peter Doocy asked President Joe Biden how worried Americans should be over the possibility of a recession. Biden’s response jettisoned objectivity altogether.”
“We’re not going to be in a recession, in my view,” President Joe Biden answered.
Republican strategist: GOP Sen. Rubio fighting same-sex marriage bill just to show he’s fighting for something. @ScottJenningsKY, @repdonnaedwards, @fran_chambers and @ChrisCillizza discuss. @kasie pic.twitter.com/ajm2VAP571
— The Lead CNN (@TheLeadCNN) July 25, 2022
By arguing that this is incorrect, Biden and his administration tried to redefine the term “recession,” which is typically defined as two consecutive quarters of negative GDP growth.
A group of political analysts on the CNN show “The Lead” harshly criticized the government for seeking to preempt damage management ahead of a possibly unfavorable economic report.
“The Biden administration is trying to point out the definition of a recession is nuanced. But I got to tell you, I struggle with this. I get why they want to do it from a political perspective, but you can’t fake this!” host Kasie Hunt commented.
“I was laughing to myself with the ‘in my view’ thing. Like in my view, I should be drafted to the NBA,” Cillizza made a sarcastic statement.
Everyone understands why the government would attempt to redefine the definition of a recession, Cillizza continued, but she chastised them for doing so.
Economists disagree about what the Bureau of Economic Analysis’s initial estimate for the second quarter of 2022 will show after the U.S. economy contracted by 1.6 percent in the first quarter of that year.
Bloomberg and Goldman Sachs economists, for instance, see weak increases of less than 1%, whilst GDPNow from the Federal Reserve Bank of Atlanta predicts another GDP loss of 1.6 %.
