So far, the Biden administration has refused to admit that there is a recession, essentially attempting to redefine what a recession is in Orwellian fashion.
“We’re not going to be in a recession,” Biden reporters on Monday. “My hope is we go from this rapid growth to a steady growth.”
Earlier this week, Biden further said that Americans should be grateful for the stimulus checks sent to them under the American Rescue Plan that likely contributed to the current recession.
Now, Paul Krugman, the Democrat’s favorite economist who always defends their horrible economic policies and decisions, has gone so far as to say that we aren’t in a recession, and even if we were it wouldn’t matter.
The Gateway Pundit Reports–
CNN's @brianstelter: "Can we dispense with the recession debate? Are we in a recession, and does the term matter?
— Tom Elliott (@tomselliott) July 31, 2022
Longtime New York Times columnist and wackjob “economist” Paul Krugman on Sunday said the US is not in a recession despite two back-to-back quarters of negative GDP growth.
Krugman said the term recession doesn’t even matter!
Tell that to Wall Street investors reacting to the second GDP drop this year.
Tell that to suffering business owners and average American in flyover country living paycheck to paycheck.
“Can we dispense with the recession debate? Are we in a recession, and does the term matter?” CNN’s talking spud Brian Stelter queried.
“No, we aren’t and no, it doesn’t,” Krugman said with his signature smug face.
Paul Krugman is wrong about nearly every prediction.
Who could forget Paul Krugman’s worst prediction of the year after Trump won the 2016 election.
Paul Krugman proclaimed that markets would “never recover” after Trump’s election victory.”
During the same interview, Krugman also said that the media is biased AGAINST the Biden administration in their reporting on the economy.
Paul Krugman talks about the media's negativity bias in economic coverage, "If you ask people how is your financial situation, it's favorable. If you ask them how is the economy, oh, it's terrible. That's a media failing." pic.twitter.com/Mdu50sczPv
— Sarah Reese Jones (@PoliticusSarah) July 31, 2022