Bill Clinton sets the record straight on definition of recession

While this week’s Q2 GDP data confirmed that the United States is now in a recession (as traditionally defined – for decades – as two consecutive quarters of negative GDP growth), the Biden administration, in cooperation with its media lapdogs – and even the ‘unbiased’ lads at Wikipedia, has been furiously peddling a Sith mind trick that “this is not the recession you’re looking for.”

(Article by Tyler Durden republished from ZeroHedge.com)

Joe Biden again claims “we’re not in a recession.” pic.twitter.com/7dcGm239eO

— TheBlaze (@theblaze) July 28, 2022

The Biden Administration is redefining “recession” in an effort to avoid political backlash.

It’s not a recession if you change the definition of recession.

Soviet-level propaganda from a soviet-level regime. pic.twitter.com/bXtvPpOeD8

— BowTiedRanger (@BowTiedRanger) July 24, 2022

It’s not a recession, it’s a ‘transition.’ 

?? White House Press Secretary Karine Jean-Pierre denies claims that the US is in a recession, says “we are in a transition.”

(via @TheView) pic.twitter.com/sqmVK7uhk0

— Watcher.Guru (@WatcherGuru) July 28, 2022

Treasury Secretary Janet Yellen insisted that “This is not an economy that’s in recession,” before parroting the “transition” narrative.

TREASURY SEC. JANET YELLEN: “This is not an economy that’s in recession. We’re in a period of transition in which growth is slowing, and that’s necessary and appropriate.”pic.twitter.com/tzRtURrUH8

— Breaking911 (@Breaking911) July 25, 2022

Nevermind Biden’s own economic advisers defining recession as two quarters of negative GDP growth as recently as last May (h/t Philip Wegmann).

Given the recent ‘confusion‘ on the topic, perhaps we need a former president to set the record straight?

“A recession is two quarters in a row of negative growth.”

— President Clinton, Dec. 19, 2000 pic.twitter.com/h04jcPX7P3

— Howard Mortman (@HowardMortman) July 28, 2022

What say you, Karine Jean-Pierre?

Read more at: ZeroHedge.com