(Article by Tyler Durden republished from ZeroHedge.com)
Joe Biden again claims "we're not in a recession." pic.twitter.com/7dcGm239eO
— TheBlaze (@theblaze) July 28, 2022
The Biden Administration is redefining “recession” in an effort to avoid political backlash.
It’s not a recession if you change the definition of recession.
Soviet-level propaganda from a soviet-level regime. pic.twitter.com/bXtvPpOeD8
— BowTiedRanger (@BowTiedRanger) July 24, 2022
It's not a recession, it's a 'transition.'
?? White House Press Secretary Karine Jean-Pierre denies claims that the US is in a recession, says "we are in a transition."
— Watcher.Guru (@WatcherGuru) July 28, 2022
Treasury Secretary Janet Yellen insisted that "This is not an economy that's in recession," before parroting the "transition" narrative.
TREASURY SEC. JANET YELLEN: “This is not an economy that’s in recession. We’re in a period of transition in which growth is slowing, and that’s necessary and appropriate."pic.twitter.com/tzRtURrUH8
— Breaking911 (@Breaking911) July 25, 2022
Nevermind Biden's own economic advisers defining recession as two quarters of negative GDP growth as recently as last May (h/t Philip Wegmann).
Given the recent 'confusion' on the topic, perhaps we need a former president to set the record straight?
"A recession is two quarters in a row of negative growth."
-- President Clinton, Dec. 19, 2000 pic.twitter.com/h04jcPX7P3
— Howard Mortman (@HowardMortman) July 28, 2022
What say you, Karine Jean-Pierre?
Read more at: ZeroHedge.com