Biden Administration Lies about Recession
Just a quick blog today about the Biden Administration not telling the truth about the Recession.
A recession is defined as two consecutive quarters where the Gross Domestic Product of the United States is in negative territory. This has happened – and as of July 28 – the GDP was reported negative in the first two quarters.
The Biden Administration is trying to control the media and lie to the public about its out of control performance on the Economy. The root cause of our shrinking economy and out of control inflation is the war his administration has put in place against the energy companies. It is no more complicated then that.
I could quote many news sources that show the definition of a recession but I am not going to waste my time with that. Most of you know how to research that. There is no mountain to hide behind. This administration has broken every campaign promise that was made, this administration has driven inflation, the recession and this administration continues on this path.
Interest rates went up 75 basis points today as predicted. This means loans just got more expensive. This behavior stops business growth. This behavior tanks the housing market. This behavior tanks the stock market. This behavior will continue to drive inflation and I predict will drive the Recession into a third consecutive quarter.
The good news is that the Recession figures and GDP will be announced for the third quarter at the end of October just a couple of weeks before the mid-term elections. This should help the voters remove the Democratic control in the House and Senate and perhaps provide some leadership out of this crisis. Unfortunately Biden will have veto power – and I doubt there will be a two-thirds majority to overwrite his policies, but it will stop the bleeding.