President Joe Biden has successfully torpedoed the U.S. economy and he's finally admitting it.
During an interview with CNN, President Biden admitted that the country is headed toward a recession.
In an attempt to placate Americans concerned by high-gas prices and rising inflation the President immediately downplayed the likelihood of an impending recession.
“I don't think there will be a recession. If it is, it will be a very slight recession. That is, we'll move down slightly,” Biden said. “Look, it's possible. I don't anticipate it.”
According to the Wall Street Journal, Biden argued in the CNN interview that the U.S. is in a “better position than any other major country in the world economically and politically,” adding, “we still have real problems.”
Mr. Biden cited legislation passed during his administration, including the recent healthcare, tax and climate law.
He disputed the idea that “there's an automaticity to a recession.” And he said that families “have reason to be concerned about energy prices,” but also pointed to what he said his administration has done to help families squeezed by rising costs, arguing that the recent law would help reduce drug prices.
The Biden administration has repeatedly attempted to dismiss fears of a looming recession for months, ignoring economic experts' and analysts' warnings.
Even CNN has reported the nation is currently experiencing a recession. Alicia Wallace noted that the U.S. economy shrank by 0.6% during the second quarter of 2022 and said the economy was in “contraction” for the entire first half of the year.
“The latest scorecard on the economy may reignite the debate as to whether the United States has been in a recession, commonly defined as two consecutive quarters of negative growth. Some economists and policymakers have rebuffed claims of an early 2022 recession, citing robust job growth, consumer spending and manufacturing,” Wallace wrote.
The piece also quoted Gus Faucher, a chief economist for the PNC Financial Services Group, who said that the latest data on DFP and gross domestic income “indicate a weaker US economy” than what was initially reported before the latest data had arrived.
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The Buffoon is a total wrecking ball for this Nation should be tarred and feather along with Nasty nancy and driven from this country to live in communist china where they belong.
Can’t say it any better than that!!!
I find it sadly amusing that this idiot caused a global recession and then says that the US isn’t suffering because it is in a better position. Hey, dufus, you caused a GLOBAL recession! EVERYONE is suffering, and it’s entirely YOUR FAULT.
Ignorant and arrogant 🙄 what a combination! There will be no redemption of his legacy at this point. No matter how the dems slice it.
Why is nobody doing anything about our country being destroyed?
Agree! This sorry SOB proves how easy it is to destroy a civilization and no one in power will stop him. I remember when people said a Hitler would never happen again.
You have created this mess, so eat it. You can’t fix it know Mr. know it all. You have led our country into this total destruction of our laws and order, not counting people that can’t afford to pay their bills and eat at the same time. Are you happy now with your New World Oder?
Absolutely the WORST PRESIDENT EVER!! Heaven help us because there’s no telling WHAT he’ll spring on us next!!!!