One of the staples of the Biden administration has been the arrogant unwillingness to admit that anything is wrong, as though being realistic would somehow open them up to more criticism than they’ve already endured.
This has been the case with the border disaster and our runaway inflation, and now that a recession has finally arrive, they’re unwilling to admit that either.
President Joe Biden insisted the U.S. economy is on track after the Commerce Department said Thursday that the gross domestic product shrank for a second quarter in a row, which is typically the definition of a recession.
‘That doesn’t sound like a recession to me,’ Biden said Thursday afternoon in the State Dining Room, pointing to a ‘record job market’ and ‘record unemployment.’
Biden noted that ‘both Chairman Powell and many of the significant banking personnel and economists say we’re not in a recession.’
‘Businesses are investing in American in record rates,’ Biden boasted.
He then changed the subject.
He dedicated most of his speech to the Senate reconciliation bill compromise that was announced Wednesday by moderate Democratic Sen. Joe Manchin and Senate Majority Leader Chuck Schumer.
‘My message to Congress is this: This is the bill you can pass to lower inflation, cut the deficit, reduce healthcare costs, tackle the climate change and promote energy security – all the time while reducing the burdens facing working class and middle class families,’ Biden said.
‘So pass it, pass it for the American people, pass it for America,’ he added.
Economists have universally agreed on what counts as a recession, (two consecutive quarters of falling GDP), and the fact that Joe Biden is unable or unwilling to admit this definition is disturbing beyond words.
