{"id":1577013,"date":"2022-07-28T16:10:55","date_gmt":"2022-07-28T20:10:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1577013"},"modified":"2022-07-28T16:11:03","modified_gmt":"2022-07-28T20:11:03","slug":"flashback-bill-clinton-may-not-have-been-able-to-define-is-but-he-could-define-a-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/flashback-bill-clinton-may-not-have-been-able-to-define-is-but-he-could-define-a-recession\/","title":{"rendered":"FLASHBACK: Bill Clinton May Not Have Been Able To Define \u2018Is\u2019 But He Could Define A Recession"},"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\">34<\/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%2Fflashback-bill-clinton-may-not-have-been-able-to-define-is-but-he-could-define-a-recession%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=1577013&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\/Former-President-Bill-Clinton-defining-a-recession-in-2000-Screenshot-Twitter-Daily-Caller-e1659035976247.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>The Biden administration is struggling to define what a \u201crecession\u201d is, but even the man who famously couldn\u2019t define \u201cis\u201d was able to define a \u201crecession.\u201d<\/p>\n<p>Clinton famously <a href=\"https:\/\/slate.com\/news-and-politics\/1998\/09\/bill-clinton-and-the-meaning-of-is.html\" target=\"_blank\" rel=\"noopener noreferrer\">struggled<\/a> to define what the one-syllable word \u201cis\u201d meant during his impeachment trial in 1999.<\/p>\n<p>\u201cIt depends on what the meaning of the word \u2018is\u2019 is. If the, if \u2018is\u2019 means is and never has been, that is not \u2013 that is one thing. If it means there is none, that was a completely true statement,\u201d Clinton said while trying to defend himself against allegations he had an affair with Monica Lewinsky.<\/p>\n<p>But Clinton had no problem slapping a <a href=\"https:\/\/www.presidency.ucsb.edu\/documents\/exchange-with-reporters-prior-discussions-with-president-elect-george-w-bush\" target=\"_blank\" rel=\"noopener noreferrer\">definition<\/a> onto what a \u201crecession\u201d is, which is now coming in handy.<\/p>\n<p>\u201cWell, a recession is two quarters in a row of negative growth, I don\u2019t think we\u2019re gonna have that,\u201d he <a href=\"https:\/\/www.presidency.ucsb.edu\/documents\/exchange-with-reporters-prior-discussions-with-president-elect-george-w-bush\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> during a discussion with reporters and then-President-elect George W. Bush, on Dec. 19, 2000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We don\u2019t agree with Bill Clinton on much, but we do agree with him that a recession is two periods of negative GDP growth <a href=\"https:\/\/t.co\/N80VMfogXY\">pic.twitter.com\/N80VMfogXY<\/a><\/p>\n<p>\u2014 Daily Caller (@DailyCaller) <a href=\"https:\/\/twitter.com\/DailyCaller\/status\/1552720121445105666?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p>\n<\/blockquote>\n<p>Two consecutive quarters of declining GDP has been used as a <a href=\"https:\/\/www.weforum.org\/agenda\/2022\/07\/global-economic-recession-meaning\/\" target=\"_blank\" rel=\"noopener noreferrer\">rule of thumb<\/a> to define a <a href=\"https:\/\/www.forbes.com\/advisor\/investing\/what-is-a-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a> for decades, economist <a href=\"https:\/\/money.cnn.com\/2008\/05\/05\/news\/economy\/recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">Julius Shiskin<\/a> declared in 1974. Administration officials have <a href=\"https:\/\/www.whitehouse.gov\/cea\/written-materials\/2022\/07\/21\/how-do-economists-determine-whether-the-economy-is-in-a-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">argued<\/a>, however, that the National Bureau of Economic Research (NBER) looks at several other factors, like consumer and business spending, the labor market, industrial production and incomes to make a determination about a recession. <strong><a href=\"https:\/\/dailycaller.com\/2022\/07\/27\/cnn-john-harwood-recession-tweets\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: CNN Reporter\u2019s Tweet Comes Back To Haunt Him As He Tries To Dismiss Recession Fears)<\/a><\/strong><\/p>\n<p><a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/recession-us-economy-second-quarter-gdp-growth\/\" target=\"_blank\" rel=\"noopener noreferrer\">Data<\/a> from the Bureau of Economic Analysis released Thursday showed U.S. real GDP decreased at an annual rate of 0.9% in the second quarter of 2022.<\/p>\n<p>The Biden administration disputed claims that the U.S. is currently in a recession, with the administration posting in a recent blog that two consecutive quarters of falling GDP is not indicative of a recession.<\/p>\n<p>White House Director of the National Economic Council <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/brian-deese-recession-squawk-on-the-street\/\" target=\"_blank\" rel=\"noopener noreferrer\">Brian Deese<\/a> said Thursday that \u201cvirtually nothing signals\u201d a recession and instead said the economy was in a \u201ctransition\u201d phase and that \u201cslowing\u201d was expected.<\/p>\n<p>\u201cBut I think if you look at the full data and the type of data that NBER looks at, virtually nothing signals that this period in the second quarter is recessionary.\u201d<\/p>\n<p>Meanwhile, press secretary <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/the-view-jean-pierre-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">Karine Jean Pierre<\/a> said the economy was in a \u201ctransition\u201d rather than a <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/economists-stop-debating-recession-fix-it\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>.<\/p>\n<p>\u201cWe are in a transition. We had this strong economic growth because of the work this president has done in the past 18 months and now what we\u2019re seeing is a transition into stable and steady growth. But we get it, we get that people are feeling a little bit more pain,\u201d Jean-Pierre said.<\/p>\n<p>Jean-Pierre <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/reporter-kaitlan-collins-karine-jean-pierre-definition-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">previously declined<\/a> to <a href=\"https:\/\/dailycaller.com\/2022\/07\/25\/economist-dismantles-biden-admins-attempt-redefine-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">define<\/a> a \u201crecession\u201d saying she would leave it to the NBER.<\/p>\n<p>\u201cI\u2019m not going to define it from here,\u201d she said during a recent press briefing. \u201cI\u2019m just going to leave it to the NBER as we have stated and how they define recession.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration is struggling to define what a \u201crecession\u201d is, but even the man who famously couldn\u2019t define \u201cis\u201d was able to define a \u201crecession.\u201dClinton famously struggled to define<\/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-1577013","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\/1577013","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=1577013"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1577013\/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=1577013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1577013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1577013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}