Joe Biden on Thursday delivered remarks on the ‘Inflation Reduction Act of 2022’ from the State Dining Room of the White House.
Biden also addressed the 2nd quarter GDP numbers that came in at negative 0.9%.
The GDP shrank by 1.6 percent in the first quarter of 2022.
The US economy is in a recession no matter what Joe Biden says.
Biden doubled down on his previous remarks and asserted once again that the US in not in a recession.
“Chairman Powell and many of the um, uh, significant banking personnel and economists say we’re not in a recession,” Biden said.
Joe Biden again claims “we’re not in a recession.” pic.twitter.com/7dcGm239eO
— TheBlaze (@theblaze) July 28, 2022
The US is currently in a recession and investors, business owners and Americans across the country know the truth.
Just like CNBC’s Rick Santelli said on Thursday, it doesn’t matter what Joe Biden says, investors know the US is currently in a recession and they will act accordingly.
“There’s an organization that decides whether there’s a recession or not — but investors? They’re not gonna wait! Two back-to-back quarters! It’s not good! Call it whatever you want!”
Even Barack Obama’s former economic advisor Austan Goolsbee said the Biden Regime is losing this battle.
“If you’re explaining [recession] you’re losing,” Goolsbee said on MSNBC.
“It’s not gonna be a comfortable place for the administration,” he added.
WATCH: A day after the Federal Reserve raised rates again, GDP decreased by 0.9% in the second quarter of this year, marking the second straight quarter of decline.@SRuhle, @byjacobward and @Austan_Goolsbee break down the latest economic indicators on @MSNBC pic.twitter.com/MaapKoPCk7
— NBC News Business (@NBCNewsBusiness) July 28, 2022