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Bill Clinton sets the record straight on definition of recession

07/31/2022 // News Editors // Views

Tags: bill clinton, Collapse, depression, economic collapse, economy, Fact Check, Inflation, Joe Biden, politics, recession, risk, White House

While this week's Q2 GDP data confirmed that the United States is now in a recession (as traditionally defined - for decades - as two consecutive quarters of negative GDP growth), the Biden administration, in cooperation with its media lapdogs - and even the 'unbiased' lads at Wikipedia, has been furiously peddling a Sith mind trick that "this is not the recession you're looking for."

(Article by Tyler Durden republished from ZeroHedge.com)

Joe Biden again claims "we're not in a recession." pic.twitter.com/7dcGm239eO

— TheBlaze (@theblaze) July 28, 2022

The Biden Administration is redefining “recession” in an effort to avoid political backlash.

It’s not a recession if you change the definition of recession.

Soviet-level propaganda from a soviet-level regime. pic.twitter.com/bXtvPpOeD8

— BowTiedRanger (@BowTiedRanger) July 24, 2022

It's not a recession, it's a 'transition.' 

?? White House Press Secretary Karine Jean-Pierre denies claims that the US is in a recession, says "we are in a transition."

(via @TheView) pic.twitter.com/sqmVK7uhk0

— Watcher.Guru (@WatcherGuru) July 28, 2022

Treasury Secretary Janet Yellen insisted that "This is not an economy that's in recession," before parroting the "transition" narrative.

TREASURY SEC. JANET YELLEN: “This is not an economy that’s in recession. We’re in a period of transition in which growth is slowing, and that’s necessary and appropriate."pic.twitter.com/tzRtURrUH8

— Breaking911 (@Breaking911) July 25, 2022

Nevermind Biden's own economic advisers defining recession as two quarters of negative GDP growth as recently as last May (h/t Philip Wegmann).

Given the recent 'confusion' on the topic, perhaps we need a former president to set the record straight?

"A recession is two quarters in a row of negative growth."

-- President Clinton, Dec. 19, 2000 pic.twitter.com/h04jcPX7P3

— Howard Mortman (@HowardMortman) July 28, 2022

What say you, Karine Jean-Pierre?

Read more at: ZeroHedge.com

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