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What Recession? You Won't Believe Biden's
Latest Goalpost Adjustment

Original Article

Posted By: ladydawgfan, 7/23/2022 12:23:50 AM

When is a recession not a recession? When Presidentish Joe Biden says it ain’t, Jack. Axios reported that White House economic advisors on Thursday moved the goalposts on what a recession is. The traditional definition of a recession is two or more quarters of economic shrinkage, but the Biden administration argues that “by most measures,” according to Axios, “the world’s largest economy remains comfortably in expansion mode.” That’s why the White House “is seeking to preempt heightened recession chatter that would accompany two quarters of shrinking GDP.” By changing the accepted definition. Citing a “holistic look at the data,” the White House Council of Economic Advisors claims

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Reply 1 - Posted by: mean Gene 7/23/2022 12:51:31 AM (No. 1225468)
I'd been predicting this. joe will try to force "the Board" to adopt his "holistic" approach to what the economy ought to be defined as. On July 28th we'll find out if they toe that new line.
2 people like this.

Reply 2 - Posted by: FL_Absentee_Voter 7/23/2022 2:57:50 AM (No. 1225502)
"expansion" of the economy will now include expanding numbers of electric vehicles "migrants", lgbxyz- individuals, and more free cash.
5 people like this.

Reply 3 - Posted by: mifla 7/23/2022 4:32:29 AM (No. 1225523)
And if you don't count people who stopped looking for jobs, the unemployment number looks great. SSDD.
3 people like this.

Reply 4 - Posted by: lakerman1 7/23/2022 6:34:37 AM (No. 1225585)
The U.S. Department of Labor/ Bureau of Labor Statistics have had good reputations for the integrity of their data - until Barack Obola's presidency. From Obola forward, I don't trust a damned thing that they produce.
4 people like this.

Reply 5 - Posted by: cor-vet 7/23/2022 8:49:05 AM (No. 1225735)
The bidet family fortune is 'comfortably in expansion mode', so there is no recession!
2 people like this.

Reply 6 - Posted by: ROLFNader 7/23/2022 10:51:26 AM (No. 1225911)
In other news, the NBA has ruled that , from now on, the basketball only has to touch the backboard anywhere and it's a three pointer!
1 person likes this.

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