{"id":1723801,"date":"2022-11-03T17:04:20","date_gmt":"2022-11-03T21:04:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1723801"},"modified":"2022-11-03T17:04:21","modified_gmt":"2022-11-03T21:04:21","slug":"white-house-chief-of-staff-we-are-not-in-a-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-chief-of-staff-we-are-not-in-a-recession\/","title":{"rendered":"White House Chief Of Staff: \u2018We Are Not In A Recession\u2019"},"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\">22<\/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%2Fwhite-house-chief-of-staff-we-are-not-in-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=1723801&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 href=\"http:\/\/dailywire.com\/topic\/biden-administration\" target=\"_blank\" rel=\"noopener\">White House<\/a> Chief of Staff <a href=\"https:\/\/www.dailywire.com\/topic\/ron-klain\" target=\"_blank\" rel=\"noopener\">Ron Klain<\/a> insisted that the United States is not in a <a href=\"http:\/\/dailywire.com\/topic\/recession\" target=\"_blank\" rel=\"noopener\">recession<\/a> as Democrats make their final pitch days before the <a href=\"http:\/\/dailywire.com\/topic\/2022-midterms\" target=\"_blank\" rel=\"noopener\">midterm<\/a> elections.<\/p>\n<p>Despite an <a href=\"https:\/\/www.dailywire.com\/news\/relying-on-credit-cards-to-pay-basic-bills-reading-between-the-lines-on-bidens-rosy-economic-outlook\" target=\"_blank\" rel=\"noopener\">increase<\/a> in <a href=\"http:\/\/dailywire.com\/topic\/economy\" target=\"_blank\" rel=\"noopener\">economic<\/a>\u00a0output during the third quarter, the United States previously met the rule-of-thumb definition of a recession, two consecutive quarters of negative growth, as the output contracted at a 1.6% annualized rate in the first quarter and a 0.6% pace in the second quarter. Klain, however, remarked during an <a href=\"https:\/\/www.msnbc.com\/morning-joe\/watch\/biden-issued-one-final-warning-on-democracy-amid-political-violence-wh-152412229506?cid=sm_npd_ms_tw_mj\" target=\"_blank\" rel=\"noopener\">interview<\/a> with MSNBC that the economy is witnessing a robust recovery under President Joe Biden.<\/p>\n<p>\u201cWe are not in a recession. I want to be really, really clear on that,\u201d Klain asserted. \u201cThe economy is growing, it is strong, it is creating jobs.\u201d<\/p>\n<p>Polls <a href=\"https:\/\/www.dailywire.com\/news\/new-midterm-poll-spells-bad-news-for-democrats-on-the-economy\" target=\"_blank\" rel=\"noopener\">consistently reveal<\/a> that voters have their eyes on the economy and inflation more than any other issues, with Republicans leading Democrats by a double-digit margin concerning trust in handling the economy. Although members of the former party criticize the Biden administration and progressive lawmakers for <a href=\"https:\/\/www.dailywire.com\/news\/biden-economic-czar-claims-white-house-is-reducing-the-budget-deficit\" target=\"_blank\" rel=\"noopener\">deficit spending<\/a> even while restricting <a href=\"https:\/\/www.dailywire.com\/news\/biden-administration-severely-cuts-back-on-oil-and-gas-leases\" target=\"_blank\" rel=\"noopener\">energy production<\/a>, members of the latter party claim that their expenditures are meant to decrease the <a href=\"https:\/\/www.dailywire.com\/news\/biden-signs-740-billion-inflation-reduction-act\" target=\"_blank\" rel=\"noopener\">cost of living<\/a> for households.<\/p>\n<p>Klain cited recent rebounds in the stock market, which has seen one of its worst years in history, as evidence that the administration\u2019s economic policy has been effective. \u201cOur mission here at the White House is to continue that kind of economic growth,\u201d he said, naming inflation as \u201cthe problem we\u2019re focused on.\u201d<\/p>\n<p>Voters nevertheless hold the commander-in-chief responsible for the lackluster economy. In a recent <a href=\"https:\/\/www.dailywire.com\/news\/americans-who-have-worse-finances-since-biden-was-elected-overwhelmingly-blame-democrats\" target=\"_blank\" rel=\"noopener\">survey<\/a> from Bankrate, roughly 43% of respondents reported that their finances are worse than two years ago. Among those who reported worse finances, 69% placed \u201cat least a moderate amount of blame\u201d on Biden, while 71% placed blame on Democrats in Congress and a smaller but still salient 54% blamed Republicans in Congress. Although 93% of Republicans with lower financial prospects said Biden is to blame, a considerable 30% of Democrats agreed.<\/p>\n<p>Administration officials have repeatedly seized on any glimmer of positive economic news as evidence that the economy as a whole is experiencing a normal recovery. After the release of the preliminary third quarter output forecast, Biden <a href=\"https:\/\/www.dailywire.com\/news\/economy-turns-positive-in-third-quarter-biden-takes-credit\" target=\"_blank\" rel=\"noopener\">claimed<\/a> that \u201cdoomsayers\u201d had been \u201crooting for a downturn\u201d while falsely arguing that the nation was in a recession.<\/p>\n<p>\u201cNow, we need to make more progress on our top economic challenge: bringing down high prices for American families,\u201d he remarked. \u201cCongressional Republicans have a very different agenda \u2014 one that would drive up inflation and add to the deficit by cutting taxes for the wealthiest Americans and large corporations. It would raise the cost of prescription drugs, health care, and energy for American families. That failed economic vision is not the way to give families more breathing room and grow our economy so working families can get ahead.\u201d<\/p>\n<p>Elevated price levels recently caused the Federal Reserve to increase <a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-hikes-interest-rates-three-quarters-of-a-point\" target=\"_blank\" rel=\"noopener\">target federal funds<\/a> rates by three-quarters of a percentage point. Monetary policymakers have <a href=\"https:\/\/www.dailywire.com\/news\/top-federal-reserve-official-reveals-consequence-of-higher-interest-rates\" target=\"_blank\" rel=\"noopener\">repeatedly warned<\/a> markets that economic growth will be \u201cessentially flat\u201d in the second half of the year following the dismal first two quarters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House Chief of Staff Ron Klain insisted that the United States is not in a recession as Democrats make their final pitch days before the midterm elections. Despite an increase in economic\u00a0output during the third quarter, the United States previously met the rule-of-thumb definition of a recession, two consecutive quarters of negative growth, as &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1713457,"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":[541],"tags":[],"class_list":["post-1723801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"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\/1723801","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1723801"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1723801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1713457"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1723801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1723801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1723801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}