Biden’s America is in a ‘Technical’ Recession

White House / Public Domain

On Wednesday, it was revealed that the U.S. economy shrunk by 0.9%, entering into a “technical recession,” according to Fox Business. The outlet reports:

Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 0.9% on an annualized basis in the three-month period from April through June, the Commerce Department said in its first reading of the data on Thursday. Refinitiv economists expected the report to show the economy had expanded by 0.5%.

Economic output already fell over the first three months of the year, with GDP tumbling 1.6%, the worst performance since the spring of 2020, when the economy was still deep in the throes of the COVID-induced recession.

Recessions are technically defined by two consecutive quarters of negative economic growth and are characterized by high unemployment, low or negative GDP growth, falling income and slowing retail sales, according to the National Bureau of Economic Research (NBER), which tracks downturns.

With back-to-back declines in growth, the economy meets the technical criteria for a recession, which requires a “significant decline in economic activity that is spread across the economy and that lasts more than a few months.” Still, the NBER — the semi-official arbiter — may not confirm it immediately as it typically waits up to a year to call it.



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Daniel Moylan
Daniel Moylan
20 days ago

wow color me surprised, make no mistake it is by design, even though the puppet Joe doesn’t realize it. Give him some ice cream and send him to bed

Jay Jones
Jay Jones
20 days ago

Yeah try to change the definition Biden!!! That does not make it go away except in
your mind!!!….mind?

Bill Williams
20 days ago

Yep, If Biden’s lips are moving, he’s lying. We know everything he turns to s**t, the new norm.

Timothy
Timothy
11 days ago
Reply to  Bill Williams

how much more gov’t. abuse are you willing to pay for? still think you are free? ha ha

Angelika
20 days ago

All done by design, just wait when the Tax INCREASE goes through, America’s economy will be COOKED…………

charles A wilkins
charles A wilkins
20 days ago

re·ces·sion
/rəˈseSH(ə)n/
Learn to pronounce
noun

  1. 1.
  2. a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
  3. “the country is in the depths of a recession”
Timothy
Timothy
11 days ago

and on the verge of another bankruptcy. What more do you need, to secede? death? They will oblige you. Communist love debt & death

DonCarmine
DonCarmine
20 days ago

He doing what all but one DemoEvilCrats do lie then keep up the lying so to cover up a failed job his doing.

charles A wilkins
charles A wilkins
20 days ago

NEVER DISCUSSED BUSINESS WITH HUNTER, DONT’ KNOW WHY HE TRAVELED THE WORLD ON THE TAX PAYERS DIME,YEA, WE SHARED AN OFFICE BUT HE SAT ON THE OTHER SIDE OF THE ROOM. Why was theAmerican tax payer paying for these Hunter biden trips when he was not working for the US Government? 

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Timothy
Timothy
11 days ago

and sleepy Joe is a technical idiot & life long racist

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