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.
.@SecYellen: Two negative quarters of economic growth "is not the technical definition" of a recession pic.twitter.com/oR5Ael4yyd
— Tom Elliott (@tomselliott) July 25, 2022
WH's @econjared46: Actually two quarters of negative GDP doesn't necessarily qualify as a recession pic.twitter.com/84RUtgjt8E
— Tom Elliott (@tomselliott) July 25, 2022
Biden Chief Gaslighter @BrianDeeseNEC: "In terms of the technical definition, [two negative quarters of growth] is not a recession." pic.twitter.com/NpBNW5yvru
— Tom Elliott (@tomselliott) July 25, 2022
“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.
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