The White House is trying to change the definition of recession because we all know the economic report coming out this week will suck.
A recession is when the GDP declines for two consecutive quarters.
In other words, the report will likely show we are in a recession
CNN’s Kasie Hunt and Chris Cillizza are disgusted by how the administration has been trying to change the definition.
The last straw is when Biden said, “We’re not going to be in a recession, in my view … my hope is we go from this rapid growth to a steady growth.”
CILLIZZA: “I was laughing to myself with the in my view thing. Like in my view, I should be drafted to the nba. Nba executives didn’t agree with that. It doesn’t matter what you think. There is a technical definition two straight quarters of negative economic growth. They clearly believe that is likely to come to pass later this week. They’re trying to prebut it, to your point, we get why they’ll doing it politically. At the same time, we have these terms for a reason.”
You don’t have to like it. Joe Biden’s handling of the economy was at 25% or 30% in the most recent poll. It’s a problem for them, this adds to the problem, but you don’t get to change the nomenclature in the middle of a campaign because it doesn’t work for you.
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