Club for Growth has launched a new ad, “Pain”, as the United States officially enters into Joe
Biden’s recession. The ad highlights the massive spending and radical environmental proposals the Biden administration has irresponsibly pushed despite the pain they are causing American families. The ad will run behind a six-figure digital and TV buy, including on TV in Arizona, Nevada, and North Carolina on Sunday morning political commentary shows.
“Joe Biden says, ‘My economic plan is moving this country in a better direction.’ But today, America is officially in a recession. And the Biden recession is because of Biden policies. Radical economic plan causing painful inflation, and radical environmental plan causing pain at the pump,” the narrator says in the Club for Growth ad.
“What’s really frustrating is how preventable this recession was,” said Club for Growth President David McIntosh. “Since taking office, the Biden administration has laughed at the very real concerns facing our economy by downplaying the hardships American families are experiencing and by shifting blame and overtly lying. Make no mistake, America is now in Biden’s recession regardless of what the administration tries to say.”
The Atlanta Fed’s GDPNow tracker recently found GDP fell at 1.2 percent.
According to economists and even liberal opinion “journalists”, two quarters of negative GDP growth defines a recession, however, that hasn't stopped Biden and his Far Left allies from trying to redefine the term.
The White House has now claimed although two negative quarters of negative is typically considered the definition of a recession, White House advisers refused to define what a recession is.
Ironically, according to reporting by Breitbart's Sean Moran, many White House advisers have recently said that two quarters of negative growth is a recession.
Cecilia Rouse, the chair of the White House Council of Economic Advisers, said in May, “Typically, economists date a recession as being at least two quarters of negative growth, and other factors, which we have not seen at all.”
Biden economic adviser Jared Bernstein also described a recession as “two consecutive quarters of declining growth.”
And, as the Media Research Center reported, the establishment media has been as bad or worse in redefining "recession" to cover for Biden's disastrous policies.
It would be interesting to hear what CNN’s John Harwood thinks about this ploy by the White House, wrote the MRC's Bill D'Agostino, because during the 2020 COVID-19 lockdowns he argued that even one quarter of severe GDP decline might be enough to qualify: “Even if we don’t have two consecutive quarters of negative growth, we might have one quarter of [negative] growth so deep that it’s classified as a recession.”
And it’s not as though everyone’s opinion changed the moment Biden came into office either, noted Mr. D'Agostino. On July 13 of this year, CNBC economics editor Jeff Cox restated the same point: “A tracker for the Atlanta Fed indicates a minus 1.2 percent growth for the second quarter. That would put us into what we call a technical recession – I mean, the most common definition of a recession: two consecutive quarters of negative growth.”
Will these journalists inflict yet another wound to their own credibility and adopt the Biden White House’s nakedly political new definition?
One would think that with inflation rising and the economy in recession Democrats would be reexamining their policies and looking for ways to get the economy growing its way out of the recession spiral, but that’s not how Democrats roll.
Instead of pro-growth policies, such as cutting job-killing regulations and taxes, Democrats announced – you guessed it – more spending and regulations to further drive-up inflation. Elitist Democrats, always immune to the real day-to-day impact of their economic follies, are on a path to reestablish the economic disaster of Jimmy Carter’s stagflation. Nothing but turning Democrats out of office in November’s midterm election will save much of middle-class America from the economic death sentence Democrats are intent upon imposing on them.
Club for Growth ad
Atlanta Fed tracker
two quarters negative growth