New Report Shakes Up Washington Swamp – Updated GDP Numbers Confirm U.S. Economy Is in Recession
Nobody in their right mind will deny the economy is struggling. Yet Biden has convinced the media to redefine basic terms, so claim we are not in a recession.
But it’s getting harder and harder for them to keep up this charade. Especially after these numbers came out.
From Daily Caller:
The revised estimate for the second quarter finds that real GDP decreased annually at a rate of 0.6%, slightly less than the July 28 estimate of a 0.9% decrease, according to the Bureau of Economic Analysis…
“We are already in a corporate earnings recession,” Antoni told the DCNF. “Many corporations have only met or beat earnings estimates last quarter because those estimates were revised down from previous quarters.”
The updated GDP numbers from July have come in. And while they are “better” than the estimated ones, it still puts the economy firmly in a recession.
Yet Biden, who refuses to admit anything wrong is his fault, has done gymnastics to redefine the term.
So, let’s see… the housing market is collapsing. Inflation continues to be at historic highs. Gas prices remain too high.
And now the GDP has shrunk for two consecutive quarters.
What is Biden waiting for—blood to rain down from the sky?
We could end up in a full-blown depression and Biden would not admit it. He is being told what to do by the DNC, which is to spend like there’s no tomorrow.
It doesn’t matter how badly he performs, or how low his approval will go. He will continue to push this failed agenda, no matter what happens.
Democrats, even those who are “distancing” themselves, will only support him. They are obsessed with turning America into a socialist dystopia.
The sky could be literally falling and they’d do nothing differently.
- More evidence has come in that the country is facing a recession.
- The GDP declined in the last two quarters, according to revised numbers.
- Biden has continually denied responsibility for all of his mistakes.
Source: Daily Caller