{"id":1570283,"date":"2022-07-25T16:52:34","date_gmt":"2022-07-25T20:52:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570283"},"modified":"2022-07-25T16:52:42","modified_gmt":"2022-07-25T20:52:42","slug":"bidens-officials-doing-damage-control-ahead-of-recession-numbers","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-officials-doing-damage-control-ahead-of-recession-numbers\/","title":{"rendered":"Biden\u2019s officials doing damage control ahead of recession numbers"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-officials-doing-damage-control-ahead-of-recession-numbers%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1570283&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2730407\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2730407\" class=\"size-full wp-image-2730407\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/AP22203708444134.jpg\" alt=\"Brian Deese, Assistant to the President and Director of the National Economic Council, speaks during a meeting where President Joe Biden appeared virtually with his economic team in the South Court Auditorium on the White House complex in Washington, Friday, July 22, 2022. (AP Photo\/Andrew Harnik)\" width=\"1024\" height=\"683\" \/><\/p>\n<p id=\"caption-attachment-2730407\" class=\"wp-caption-text\">Brian Deese, Assistant to the President and Director of the National Economic Council, speaks during a meeting where President Joe Biden appeared virtually with his economic team in the South Court Auditorium on the White House complex in Washington, Friday, July 22, 2022. (AP Photo\/Andrew Harnik)<\/p>\n<\/div>\n<h5>OAN NEWSROOM<br \/>UPDATED 1:20 PM PT \u2013 Monday, July 25, 2022<\/h5>\n<p>The Biden administration is downplaying concerns of a recession ahead of this week\u2019s GDP numbers that are expected to show an economic downturn. In a statement Monday, the White House questioned how economists determine a recession while alleging the US economy is \u201ctransitioning\u201d from \u2018\u201dfast growth\u201d to steady and slow growth.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Biden economic advisor Brian Deese: \u201cWe are seeing a slowing [economy], that is not only expected but necessary, as we operate through this transition.\u201d <a href=\"https:\/\/t.co\/9wiJH8NP4Y\">pic.twitter.com\/9wiJH8NP4Y<\/a><\/p>\n<p>\u2014 RNC Research (@RNCResearch) <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1551586922526638082?ref_src=twsrc%5Etfw\">July 25, 2022<\/a><\/p>\n<\/blockquote>\n<p>The US GDP shrank 1.6 percent in the first quarter and the Atlanta Fed expects it to fall another 2.1 percent in the second quarter. However, President Biden\u2019s officials are claiming two quarters of negative growth does not indicate a recession although it does. The Bureau of Economic Analysis will release its advance estimate of second quarter GDP on Thursday, July 28.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Biden economic advisor Jared Bernstein downplays the slowing economy and recession concerns as \u201csemantics\u201d <a href=\"https:\/\/t.co\/4AcVyILrae\">pic.twitter.com\/4AcVyILrae<\/a><\/p>\n<p>\u2014 RNC Research (@RNCResearch) <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1551580378246299651?ref_src=twsrc%5Etfw\">July 25, 2022<\/a><\/p>\n<\/blockquote>\n<div>Meanwhile, former Treasury Secretary and Obama administration economic adviser Larry Summers blames a possible upcoming recession on high government spending.\u00a0 In an <a href=\"https:\/\/www.cnn.com\/videos\/tv\/2022\/07\/23\/exp-gps-0724-summers-on-whether-recession-is-inevitable.cnn\">interview<\/a> Sunday, Summers said the Biden administration borrowed too much money over the past two years. As a result, the US national debt surged above $30 trillion.<\/div>\n<blockquote>\n<div><strong>\u201cI think there is a very high likelihood of recession when we\u2019ve been in this kind of situation before,\u201d he stated. \u201cRecession has essentially always followed when inflation has been high and unemployment has been low.\u201d<\/strong><\/div>\n<\/blockquote>\n<div>Summers said the US economy may face high inflation and no growth for a while.\u00a0 The US government is set to release second quarter GDP figures later this week and if it is negative that would mean the country is officially in a recession.<\/div>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/same-sex-marriage-needs-10-gop-senators-for-codification\/\">Same-Sex Marriage Needs 10 GOP Senators For Codification<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Brian Deese, Assistant to the President and Director of the National Economic Council, speaks during a meeting where President Joe Biden appeared virtually with his economic team in the South Court Auditorium on the White House complex in Washington, Friday, July 22, 2022. (AP Photo\/Andrew Harnik) OAN NEWSROOMUPDATED 1:20 PM PT \u2013 Monday, July 25, &hellip;<\/p>\n","protected":false},"author":79,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1570283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1570283"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1570283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1570283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1570283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1570283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}