{"id":1703942,"date":"2022-10-20T12:35:53","date_gmt":"2022-10-20T16:35:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1703942"},"modified":"2022-10-20T12:35:59","modified_gmt":"2022-10-20T16:35:59","slug":"odd-man-out-everyone-expects-recession-except-biden","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/odd-man-out-everyone-expects-recession-except-biden\/","title":{"rendered":"Odd Man Out: Everyone Expects Recession Except Biden"},"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\">16<\/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%2Fodd-man-out-everyone-expects-recession-except-biden%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=1703942&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--><p> <a class=\"\" href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a> <\/p>\n<p class=\"article-excerpt\">Days after president says economy is &#8216;strong as hell,&#8217; Bloomberg says recession is 100 percent certain<\/p>\n<p>    <a href=\"https:\/\/freebeacon.com\/author\/karl-salzmann\/\" title=\"Posts by Karl Salzmann\" class=\"author url fn text-red-700\" rel=\"author\">Karl Salzmann<\/a> \u2022 October 19, 2022 2:30 pm  <\/p>\n<p>Economists widely predict a recession next year, the Wall Street Journal\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/economists-now-expect-a-recession-job-losses-by-next-year-11665859869\" target=\"_blank\" rel=\"noopener\">reported<\/a>, puncturing President Joe Biden&#8217;s insistence that &#8220;our economy is strong as hell.&#8221;<\/p>\n<p>Economists put the probability of a recession in the next year at 63 percent, up from 49 percent in July, according to a Journal survey published on Sunday. The economists surveyed gave &#8220;increasingly gloomy&#8221; forecasts for 2023, saying they expect GDP to &#8220;contract in the first two quarters of the year,&#8221; causing employers to cut jobs.<\/p>\n<p>Bloomberg economists on Monday offered an even gloomier forecast, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-17\/forecast-for-us-recession-within-year-hits-100-in-blow-to-biden\" target=\"_blank\" rel=\"noopener\">saying<\/a>\u00a0the odds of a recession are 100 percent. Bloomberg <em>News<\/em> described the forecast as a &#8220;blow to Biden&#8221; ahead of November&#8217;s midterms.<\/p>\n<p>The Journal report came out the day after Biden pooh-poohed terrible economic numbers, telling reporters that &#8220;our economy is strong as hell.&#8221; Biden made the claim as he stumped for Democrats in Oregon, a traditionally deep-blue state that this year is <a href=\"https:\/\/freebeacon.com\/elections\/poll-oregon-could-elect-its-first-republican-governor-since-1982\/\" target=\"_blank\" rel=\"noopener\">leaning Republican<\/a>.<\/p>\n<p>The consumer price index last month spiked to 8.2 percent. Biden <a href=\"https:\/\/www.reuters.com\/world\/us\/if-there-is-recession-it-will-be-very-slight-biden-says-2022-10-12\/\" target=\"_blank\" rel=\"noopener\">admitted<\/a>\u00a0last week that a recession is possible, though he tried to convince Americans that it would be &#8220;very slight.&#8221;<\/p>\n<p>Biden two months ago signed Democrats&#8217; so-called Inflation Reduction Act, which many economists said would have little to no effect on inflation. His possibly unconstitutional student debt cancellation scheme, meanwhile, will <a href=\"https:\/\/freebeacon.com\/biden-administration\/the-student-debt-bait-and-switch\/\" target=\"_blank\" rel=\"noopener\">almost certainly<\/a>\u00a0increase deficit spending.<\/p>\n<p>A &#8220;soft landing&#8221; for the precarious economy, which Biden administration officials predicted for months, is &#8220;a mythical outcome that never actually comes to pass,&#8221; University of Michigan economist Daniil Manaenkov told the Journal.<\/p>\n<p>Journal forecasters also expect the labor market to weaken for years to come, saying unemployment will stay high through 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economists widely predict a recession next year, the Wall Street Journal\u00a0reported, puncturing President Joe Biden&#8217;s insistence that &#8220;our economy is strong as hell.&#8221;<br \/>\nThe post Odd Man Out: Everyone Expects Recession Except Biden appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":162,"featured_media":1703947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1703942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703942","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\/162"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1703942"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1703942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1703947"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1703942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1703942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1703942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}