The White House desperately tried to spin-away the country’s looming recession over the weekend; claiming the actual economic term is very difficult to define.
“GDP will be closely watched. A common definition of ‘recession’ is two negative quarters of growth… But that’s not the technical definition,” explained Treasury Secretary Janet Yellen.
“What will the definition of ‘recession’ be? It’s very obscure,” said another White House official.
“In terms of the technical definition, [two negative quarters of growth] is not a recession,” explained top Economic advisor Brian Deese.