Breitbart News reports that one of the Biden administration’s economic advisers just admitted that it “makes perfect sense” for Americans to think that the country is in a recession.
The advisor is Jared Bernstein, a member of the White House Council of Economic Advisers. He recently appeared on CNN’s Situation Room, where he discussed a recent poll that showed that 64% of Americans think that the country is in a recession.
There, Bernstein, referring to the poll result, said:
I say that that makes perfect sense to me that people would answer a poll with that kind of response. And the reason is because if you actually look at how the group that designates recession (it’s a fairly technical set of analyses that we’ve been talking about throughout the week) but most people are thinking about inflation. They’re thinking about the pressures on their family budgets.
“It’s completely understandable that they would be,” Bernstein added.
What’s a recession?
The back story is that President Joe Biden and his White House are currently trying to redefine the definition of “recession” in order to be able to claim to Americans that the country, despite all of the ongoing economic problems, is not actually in a recession.
This comes as the U.S. Gross Domestic Product (GDP) shrank by 0.9% in the second quarter of 2022 after it shrank by 1.6% during the first quarter. Many are arguing that this constitutes a recession.
Nonetheless, several members of the Biden administration — including Biden himself — insist that we are not in a recession because this does not satisfy the definition of one.
White House Press Secretary Karine Jean-Pierre, for example, when asked whether “two consecutive quarters of negative GDP growth” is a recession,” said, “that’s not the definition.”
This attempt to redefine the meaning of a recession is part of the White House’s response to the fact that the Democrats have been getting hammered in the polls as a result of the ongoing economic crisis. The White House’s strategy seems to be that if you can’t fix the economy, just change the meaning of success and failure.
The White House’s attempt to redefine “recession” came alongside multiple new polls, including the one mentioned above, that show that the majority of Americans do believe that America is in a recession.
It is also interesting to point out, as Breitbart did in a separate report, that besides the American people, House Speaker Nancy Pelosi (D-CA) also, at one time in her life, considered two-quarters of negative growth to be the “technical definition of recession.”
The bottom line is that the technical definition of “recession” is irrelevant here. What Americans know is that the economic situation in this country is not good right, and they know this because they are experiencing it on a daily basis. Biden can attempt to change the definition of “recession” all he wants: he can’t give the people back all the extra money they are losing because of his and the Democrats’ economic incompetence.