CNN host Jake Tapper pointed out that when it comes to the economy the Biden administration is in “denial and out of touch."
Tapper pointed blame to Gene Sperling, senior adviser to President Joe Biden, for the president denying we are in a recession. The Bureau of Economic Analysis (BEA) released a report that the GDP dropped by 0.9% in the last quarter. Up until the current recession, two consecutive quarters of dropping GDP is a recession, by definition.
This definition of a recession was declared in 1974 by Economist Julius Shiskin.
Wikipedia changed the definition of recession to favor the Biden regime, and then locked the page. pic.twitter.com/2HvzsavWbu
— Cernovich (@Cernovich) July 28, 2022
“Doesn’t this semantic debate risk making the White House seem as if you’re in denial and out of touch with Americans who are really struggling out there?” Tapper questioned.
“Not at all, Jake,” Sperling responded. “Let’s acknowledge that every single family is the world’s leading expert on how they themselves are doing, and we totally appreciate the degree that so many Americans feel pinched and squeezed by the higher prices at the gas pump — even with gas prices down $0.75 now — squeezed at the grocery line by the impacts of global inflation on the U.S. We feel that, we’re not denying that.”
When word came out earlier in the week that the economy report would officially place the U.S. in a recession, it left the Democrats with two options. The first was change the definition of a recession and the second was to blame Trump.
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