WH: As U.S. Is In Recession, Biden “Does Not Think There Will Be A Recession”

[Moonglow]

I see no recession where I live and work.

 

[JGalt]

I see you keep dodging the question. Because you have no clue what defines a recession.

How funny that you are projecting onto others what you are doing right now! Claiming a recession because a Democrat is in the White House.

That's the first truthful thing I've ever heard you say. We are in a recession because a Democrat is in the White House. Except you fucksticks are too chickenshit to admit it.

"America is in a recession and has been since July, but Joe Biden remains delusional about the suffering Americans face.


Last night, Biden denied America’s recession, and in response to Jake Tapper’s question on whether families should prepare for one, he said, “It hasn’t happened yet…if it is, it’ll be a very slight recession.”


BIDEN’S ECONOMIC CRISIS:

• The GDP decreased at an annual rate of 0.6% in the second quarter of 2022, according to the final estimate released by the Bureau of Economic Analysis.
  • This follows a GDP decline of 1.6% within the first quarter, meaning that we have hit the rule-of-thumb recession definition: two consecutive quarters with negative GDP readings.
  • The majority of Americans say we are in fact in a recession, according to a recent survey.
• Inflation is a tax on all Americans.
  • In August, the CPI came in “hotter” than expected at 8.3% for the 12 months ending August.
• The skyrocketing cost of goods and services will cost the average American household over $700 a month, which adds up to over $8,000 a year.
• Food prices alone are up 11.4% since last year, the largest one-year increase in prices since 1979.
• Real average hourly earnings decreased 2.8%, seasonally adjusted, from August 2021 to August 2022.
  • Inflation has outpaced workers’ wages for 17 months in a row under Joe Biden’s watch.
• The median annual rent for Americans is UP 10% compared to last August.
• Biden’s inflation crisis has cost the average American worker OVER $3,000 in annual income.
• President Biden has now issued more executive orders than any president since Ford, leaving America’s taxpayers with a $1.5 TRILLION tab as they are already paying more for just about everything.

MAKE NO MISTAKE: This is the Biden Recession—no one else’s. House Republicans have made a commitment to an economy that’s strong, and that starts with ending the Far Left Socialist policies of Biden and the House Democrats that have led our economy into a recession."

America is in a Recession and Biden Remains Delusional - www.gop.gov

 

[otto105]

A recession was two consecutive quarters of negative growth, now that definition changed a couple months ago.

The two QTR rule is not the only measure of judging if we're in recession.

 

[Weatherman2020]

Let me know when it hits Jackson, TN so I can act like I am suffering to make you feel better.

Tell your neighbors that they must vote Democrat to keep that economy going so their 401k 301k 201k 101k can continue to prosper!

 

[otto105]

That's the first truthful thing I've ever heard you say. We are in a recession because a Democrat is in the White House. Except you fucksticks are too chickenshit to admit it.

"America is in a recession and has been since July, but Joe Biden remains delusional about the suffering Americans face.


Last night, Biden denied America’s recession, and in response to Jake Tapper’s question on whether families should prepare for one, he said, “It hasn’t happened yet…if it is, it’ll be a very slight recession.”


BIDEN’S ECONOMIC CRISIS:

• The GDP decreased at an annual rate of 0.6% in the second quarter of 2022, according to the final estimate released by the Bureau of Economic Analysis.
  • This follows a GDP decline of 1.6% within the first quarter, meaning that we have hit the rule-of-thumb recession definition: two consecutive quarters with negative GDP readings.
  • The majority of Americans say we are in fact in a recession, according to a recent survey.
• Inflation is a tax on all Americans.
  • In August, the CPI came in “hotter” than expected at 8.3% for the 12 months ending August.
• The skyrocketing cost of goods and services will cost the average American household over $700 a month, which adds up to over $8,000 a year.
• Food prices alone are up 11.4% since last year, the largest one-year increase in prices since 1979.
• Real average hourly earnings decreased 2.8%, seasonally adjusted, from August 2021 to August 2022.
  • Inflation has outpaced workers’ wages for 17 months in a row under Joe Biden’s watch.
• The median annual rent for Americans is UP 10% compared to last August.
• Biden’s inflation crisis has cost the average American worker OVER $3,000 in annual income.
• President Biden has now issued more executive orders than any president since Ford, leaving America’s taxpayers with a $1.5 TRILLION tab as they are already paying more for just about everything.

MAKE NO MISTAKE: This is the Biden Recession—no one else’s. House Republicans have made a commitment to an economy that’s strong, and that starts with ending the Far Left Socialist policies of Biden and the House Democrats that have led our economy into a recession."

America is in a Recession and Biden Remains Delusional - www.gop.gov

Does a recession have 3.5% unemployment and solid customer spending?

 

[Faun]

A recession was two consecutive quarters of negative growth, now that definition changed a couple months ago.

False. The current definition has been around for at least a quarter of a century...

Business Cycle Expansions and Contractions

Business Cycle Expansion and contraction dates for the United States Economy

web.archive.org

The National Bureau of Economic Research (NBER) does not define a recession in terms of two consecutive quarters of decline in real GNP. Rather, a recession is a recurring period of decline in total output, income, employment, and trade, usually lasting from six months to a year, and marked by widespread contractions in many sectors of the economy.​

 

[otto105]

Tell your neighbors that they must vote Democrat to keep that economy going so their 401k 301k 201k 101k can continue to prosper!

All my neighbors and myself are voting Democratic.


Thanks

 

[Yarddog]

The invisible handshake says it all - Democrats are LITERALLY out of touch with reality.

The media on their side allows them to be as well. They can spout off falsehoods all day long and if a fact checker brings something to light in contrary.. well they will simply double down and the media will brush it over. I think they have learned that if you simply say on TV what you want things to be... enough People will go along with it. Now that they have established that all dissent is misinformation.

 

[Weatherman2020]

Does a recession have 3.5% unemployment and solid customer spending?

3.5% UE!

 

[Weatherman2020]

All my neighbors and myself are voting Democratic.


Thanks

Tells us what a shithole you live in.

 

[otto105]

The media on their side allows them to be as well. They can spout off falsehoods all day long and if a fact checker brings something to light in contrary.. well they will simply double down and the media will brush it over. I think they have learned that if you simply say on TV what you want things to be... enough People will go along with it. Now that they have established that all dissent is misinformation.

Like Squealing the Squeal?

 

[g5000]

Recession | U.S. Bureau of Economic Analysis (BEA)​

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.
www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.

Hope this helps.

 

[otto105]

Tells us what a shithole you live in.

Sure sure, tell yourself that.

 

[Weatherman2020]

False. The current definition has been around for at least a quarter of a century...

Business Cycle Expansions and Contractions

Business Cycle Expansion and contraction dates for the United States Economy

web.archive.org

​

The National Bureau of Economic Research (NBER) does not define a recession in terms of two consecutive quarters of decline in real GNP. Rather, a recession is a recurring period of decline in total output, income, employment, and trade, usually lasting from six months to a year, and marked by widespread contractions in many sectors of the economy.​

 

[Weatherman2020]

Recession | U.S. Bureau of Economic Analysis (BEA)​

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.
www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.

Hope this helps.

So Biden changes the definition every quarter, what’s your point?

Why aren’t Democrats running on the great job they’ve done with the economy?

 

[Weatherman2020]

Sure sure, tell yourself that.

Fact. If you live in a Democrat run city you’re dealing with high crime, homeless, shitty schools, high gas prices, high taxes, graffiti all over, etc etc.

Fact is fact.

 

[Faun]

3.5% UE!

LOLOLOLOLOL

Those photos are from the fall of 2017 when Trump was president.

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Thanks for reminding the forum how much he sucked as president.

 

[JGalt]

So Biden changes the definition every quarter, what’s your point?

Why aren’t Democrats running on the great job they’ve done with the economy?

Because they think "Muh body, muh choice" is going to keep them in office. Apparently murdering unborn babies takes a higher precedence over the safety and prosperity of American citizens.

Yes, they are that stupid.

 

[Faun]

View attachment 709213

That warms your heart, dudn't it?

 

[Weatherman2020]

That warms your heart, dudn't it?

Democrats must run on their great economic policies!