On Thursday, the United States economy shrunk for a second quarter in a row.
We’re now in a recession. At least, what “experts” are calling a “technical” recession.
After a 1.6% decline in Q1, gross domestic product (GDP) fell at a 0.9% annualized rate, fueled mostly by out-of-control inflation resulting from Biden’s spending, energy, and foreign policies.
Of course, we already knew this. After all, these measurements are all retroactive — indicative of a time period that has already passed. Moreover, the Biden administration already knew this, demonstrated by their sudden attempt to shift the goalposts by redefining what a recession is…as if they can escape the voluntary impoverishment of the American people through a lexicographical technicality.
After all, in the words of Treasury Secretary Janet Yellen, we are not in a recession. We’re simply in a “period of transition in which growth is slowing.”
*eyeroll*
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