We have seen the Biden team trying to redefine what constitutes recession because they know it will be announced later this week that there has been negative GDP for two consecutive quarters.
As we reported Sunday, Treasury Secretary Janet Yellen was one of the Biden officials who tried to promote this new mantra.
Previously this week it was a full-bore push, with NEC Director Brian Deese, and Biden economic advisor Jared Bernstein both contributing.
Deese stated that two-quarters of negative growth was not the “technical definition.”
He said that Joe Biden was working to get people economic “breathing space” and that the “working-class people had difficulty affording things for years.” This is perhaps the most dramatic moment in 40 years. Biden is a fool for claiming he has achieved some success when in reality he has made things worse for everyone.
Deese is undoubtedly one of the most sloppy spinners on economics on the Biden team. But Bernstein’s prior words were the truth.
On Monday, Bernstein stated that he believed that two-quarters of GDP below 0 was a recession.
Let’s take a look at what he said to Joe Biden in 2019 when he wasn’t lying. It was “crossing zero.”
Oops! They just got nailed with Bernstein’s statement. He acknowledged reality before Joe Biden.
They can spin whatever they like. The problem is that Americans will still feel the results in their pockets. It doesn’t really matter how many words the Biden team uses, they can’t change it. The American people will feel it and remember that the Biden team has lied to them since Biden’s inception. Lying about inflation being temporary, lying about Putin’s Price Hike, and lying now about what a recession actually is. They then wonder why Biden’s numbers remain in the cellar.