{"id":1577058,"date":"2022-07-28T16:40:08","date_gmt":"2022-07-28T20:40:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1577058"},"modified":"2022-07-28T16:40:12","modified_gmt":"2022-07-28T20:40:12","slug":"doesnt-sound-like-a-recession-to-me-biden-in-denial-over-slumping-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doesnt-sound-like-a-recession-to-me-biden-in-denial-over-slumping-economy\/","title":{"rendered":"\u2018Doesn\u2019t Sound Like A Recession To Me\u2019: Biden In Denial Over Slumping Economy"},"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\">26<\/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%2Fdoesnt-sound-like-a-recession-to-me-biden-in-denial-over-slumping-economy%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=1577058&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\/President-Joe-Biden-speaks-about-the-economy-Screenshot-Twitter-Greg-Price-e1659037509838.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 declared Thursday the state of the economy \u201cdoesn\u2019t sound like a recession,\u201d before walking away without taking any questions from reporters.<\/p>\n<p><a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/biden-promised-pull-united-states-out-recession-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biden<\/a> gave remarks after data showed the real GDP decreased at an annual rate of 0.9% in the second quarter of 2022, sparking many to claim the U.S. is in, or trending toward, a recession. <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/joe-biden-united-states-right-path-transition-fears-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biden<\/a> tried to downplay concerns, saying that the economy is on the right track, and is not indicative of a recession.<\/p>\n<p>\u201cPassing the CHIP bill is going to put another $72 billion dollars for incentives and tax credits to expand semiconductor production,\u201d Biden said. \u201cAnd the Inflation Reduction Act will add another $370 billion in clean energy tax credits in reconciliation, including incentives to accelerate domestic production of solar panels, wind turbines, batteries, and critical materials processing. That doesn\u2019t sound like a recession to me. Thank you very much.\u201d<\/p>\n<p><strong>WATCH:<\/strong><\/p>\n<p>Biden then walked away from the podium without taking a single question.<strong> <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/cnn-matt-egan-biden-economy\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: \u2018Americans Hate This Economy,\u2019 Says CNN Reporter)<\/a><\/strong><\/p>\n<p>The Biden administration has tried to downplay claims that Thursday\u2019s GDP report is indicative of a <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/the-view-alyssa-farah-griffin-inflation-reduction-act\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>.<\/p>\n<p>While the National Bureau of Economic Research uses several factors to determine whether the U.S. is in a recession, economist Julius Shiskin wrote in 1974 that two consecutive quarters of declining GDP is a good rule of thumb to define a <a href=\"https:\/\/dailycaller.com\/2022\/07\/22\/jennifer-granholm-clean-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">recession<\/a>, with that <a href=\"https:\/\/dailycaller.com\/2022\/07\/21\/nyt-paul-krugman-green-energy\/\" target=\"_blank\" rel=\"noopener noreferrer\">definition<\/a> becoming somewhat of a <a href=\"https:\/\/www.weforum.org\/agenda\/2022\/07\/global-economic-recession-meaning\/\" target=\"_blank\" rel=\"noopener noreferrer\">standard<\/a>.<\/p>\n<p>White House Director of the National Economic Council Brian Deese <a href=\"https:\/\/dailycaller.com\/2022\/07\/28\/brian-deese-recession-squawk-on-the-street\/\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> Thursday that \u201cvirtually nothing signals\u201d a recession.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden declared Thursday the state of the economy \u201cdoesn\u2019t sound like a recession,\u201d before walking away without taking any questions from reporters.Biden gave remarks after data<\/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-1577058","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\/1577058","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=1577058"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1577058\/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=1577058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1577058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1577058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}