{"id":1576480,"date":"2022-07-28T11:10:37","date_gmt":"2022-07-28T15:10:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1576480"},"modified":"2022-07-28T11:10:42","modified_gmt":"2022-07-28T15:10:42","slug":"biden-promised-to-pull-the-us-out-of-recession-in-2020-where-is-he-now","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-promised-to-pull-the-us-out-of-recession-in-2020-where-is-he-now\/","title":{"rendered":"Biden Promised To Pull The US Out Of Recession In 2020. Where Is He Now?"},"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\">30<\/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%2Fbiden-promised-to-pull-the-us-out-of-recession-in-2020-where-is-he-now%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=1576480&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><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/biden-walking-away-e1659018800817.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<aside id=\"right1forarticles\">\n<\/aside>\n<div id=\"ob-read-more-selector\">\n<p>President Joe Biden promised in 2020 to pull the U.S. out of a recession, leading some to wonder where he is as Thursday\u2019s GDP report indicates the U.S. could be heading toward a recession.<\/p>\n<p>U.S. real GDP decreased at an annual rate of 0.9% in the second quarter of 2022, data released Thursday from the Bureau of Economic Analysis (BEA) shows. While it is not officially considered a recession, many are sounding the alarm that the U.S. is in, or headed toward one.<\/p>\n<p>But Biden promised in 2020 that he would rescue the economy from a recession.<\/p>\n<p>\u201cI helped pull this country out of a recession before \u2013 and, as president, I\u2019ll do it again,\u201d Biden tweeted on October 11, 2020.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I helped pull this country out of a recession before \u2014 and, as president, I\u2019ll do it again.<\/p>\n<p>\u2014 Joe Biden (@JoeBiden) <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1315404306258903040?ref_src=twsrc%5Etfw\">October 11, 2020<\/a><\/p>\n<\/blockquote>\n<p>While the National Bureau of Economic Research uses several factors to determine whether the U.S. is in a <a href=\"https:\/\/dailycaller.com\/2022\/07\/22\/jennifer-granholm-clean-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>, economist <a href=\"https:\/\/money.cnn.com\/2008\/05\/05\/news\/economy\/recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">Julius Shiskin<\/a> wrote in 1974 that two consecutive quarters of declining GDP is a good rule of thumb when defining a <a href=\"https:\/\/www.forbes.com\/advisor\/investing\/what-is-a-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>. The <a href=\"https:\/\/dailycaller.com\/2022\/07\/21\/nyt-paul-krugman-green-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">definition<\/a> has become somewhat <a href=\"https:\/\/www.weforum.org\/agenda\/2022\/07\/global-economic-recession-meaning\/\" target=\"_blank\" rel=\"noopener noreferrer\">standard<\/a>, though other factors are considered. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/27\/federal-reserve-rate-hikes-economy-recession-inflation\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: The Fed Announces Another Rate Hike To Rein In Inflation, But Economists Aren\u2019t Convinced)<\/a><\/strong><\/p>\n<p>Biden said Thursday that despite the report, the U.S. is on the \u201cright path\u201d amid what he calls a \u201ctransition.\u201d<\/p>\n<p>\u201cComing off of last year\u2019s historic economic growth \u2013 and regaining all the private sector jobs lost during the pandemic crisis \u2013 it\u2019s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,\u201d Biden said in a statement. \u201cBut even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure. Our job market remains historically strong, with unemployment at 3.6% and more than 1 million jobs created in the second quarter alone.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden promised in 2020 to pull the U.S. out of a recession, leading some to wonder where he is as Thursday\u2019s GDP report indicates the U.S.<\/p>\n","protected":false},"author":74,"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-1576480","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\/1576480","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\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1576480"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1576480\/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=1576480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1576480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1576480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}