Perhaps Twitter should ban Joe Biden, not for election denying but for denying reality.
When I took office, the economy had stalled and COVID was out of control. Since then, we’ve achieved the most robust recovery in modern history.
Because of that foundation, we’re better positioned to overcome global inflation and reach a new chapter of stable and steady growth.
— Joe Biden (@JoeBiden) June 15, 2022
What “foundation”? The Commerce Department said that gross domestic product (GDP) shrank by 1.4% at an annual rate in the first quarter. Not very “robust” at all, eh Joe?
Biden can’t spin his way out of the mess he’s created. All he has left is to deny what most Americans already know; the country is in a recession.
That means no growth with high inflation. And with the Federal Reserve jacking up interest rates as fast as they can without deflating the economy, job losses will begin to pile up quickly.
An Economist/YouGov poll released on Friday shows that 56% of Americans believe the U.S. is already in a recession while just 22% think we’re not. Another 22% gave the correct answer by saying they’re not sure.
Technically, a recession is defined as two consecutive quarters with negative growth. But you can throw the technical definition out the window. This is the Biden recession, and given the perception of the vast majority of Americans, Joe Biden can take his “robust recovery” and stick it where the sun don’t shine.
Whether a respondent thought the economy had dipped into a recession largely was dependent on political party.
Seventy percent of respondents who identified as Republicans said they think that the U.S. is currently in a recession, while 8 percent of Republican respondents disagree, according to the poll.
Just 45 percent of Democrat respondents said they think that the U.S. is in a recession, while 56 percent of independent respondents agreed.
The partisan split is not as wide as it is on most issues. When almost half the Democratic Party believes the economy is cratering, Joe Biden and national Democrats should really start to worry.
Fifty-eight percent of respondents who are 65 years or older believe that the country is going through an economic recession, while 54 percent of respondents who are 44 years old or younger agree, the poll said.
The poll comes as fears of a possible recession have grown in the recent weeks due to the struggles of inflation caused by high costs at gas stations and products at grocery stores and Russia’s ongoing invasion of Ukraine.
The only questions about this recession are how deep and how long? The trillions of dollars in stimulus Biden and Democrats spent are still working their way through the economy, so as long as the Fed can tame inflation rather quickly, the recession won’t be as long as some others.
But other problems may crop up during the recession that could prolong it. And despite what Biden says, many Western nations are in far better shape inflation-wise and are far better positioned to handle a global downturn.
Join the conversation as a VIP Member