Joe Biden in 2020: I Will ‘Pull This Country Out of a Recession’

SHARE
TWEET
Joe Biden in 2020: I Will ‘Pull This Country Out of a Recession

Candidate Joe Biden in 2020 promised he would get the United States out of the recession following the economic shutdowns in the wake of COVID-19.

This is what Biden wrote on social media in October 2020:

“I helped pull this country out of a recession before — and, as president, I’ll do it again.”

Biden’s promises were unearthed following the latest GDP numbers for the second quarter of 2022, showing two consecutive quarters of contracted growth.

Biden has done the opposite of what he promised in 2020; not only that, the White House is now scrambling to redefine what a ‘recession’ actually means.

In the chaos of record-high inflation resulting from spending trillions of dollars, Biden has struggled to explain why economic growth has slowed.

Joe Biden and the blame game

Biden, true to form, blamed anyone but himself, saying the Federal Reserve’s monetary policy was the reason for the economy’s slowing.

“[I]t’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said.

As CNN reported:

On Thursday, Biden dismissed fears that the US is in a recession, arguing there are “signs of economic progress,” including in the labor market and consumer spending.

The President said slower growth was expected compared to last year amid the nation’s economic recovery from the Covid-19 pandemic and said it was “consistent with the transition to a stable, steady growth and lower inflation.”

“There are going to be a lot of chatter today on Wall Street and among pundits about whether we are in a recession,” Joe Biden said.

“But if you look at our job market, consumer spending, business investment, we see signs of economic progress in the second quarter as well.”

The White House has been attempting to downplay the significance of Thursday’s GDP report, arguing the data does not reflect the latest progress, including the recent drop in gas prices across the nation.

Top Biden administration officials insist the economy is not in recession amid rampant inflation.

Biden said the nation was “on the right path” despite recession fears.

“Coming off of last year’s historic economic growth — and regaining all the private sector jobs lost during the pandemic crisis — it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said in a statement released Thursday.

NOTICE: Our comment section is currently disabled due to malicious attacks preventing our readers being able to comment properly. We are in the process are implementing a new system which will be live soon! Sorry for any inconvenience!

SHARE
TWEET
Telegram
Email
Reddit
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Breaking

Trending

70% of Largest U.S. Cities on Verge of Bankruptcy
70% of Largest U.S. Cities on Verge of Bankruptcy
70 percent of the largest cities in the United States did not have enough money to pay their bills in...
Charity Who Fired 90-Year-Old Volunteer over Pronouns Issues Apology
Charity Who Fired 90-Year-Old Volunteer over Pronouns Issues Apology
The National Multiple Sclerosis Society has been forced to issue an apology after it told a 90-year-old...
Nikki Haley Suffers Massive Setback: ‘It’s Over’
Nikki Haley Suffers Massive Setback: ‘It’s Over’
Long shot Republican presidential candidate Nikki Haley’s campaign is effectively over, even if...
Jacob Rothschild Dies at 87
Jacob Rothschild Dies at 87
Elite financier and member of the Rothschild banking family, Lord Jacob Rothschild, died at the age of...
Jeffrey Epstein Used Victim’s Cancer-Stricken Mom to Continue Abusing Her
Jeffrey Epstein Used Victim’s Cancer-Stricken Mom to Continue Abusing Her
Sex Trafficker Jeffrey Epstein reportedly exploited the cancer diagnosis of his victim’s mother...
Deluded Nikki Haley: I Won’t Drop Out ‘Until the American People Close the Door’
Deluded Nikki Haley: I Won’t Drop Out ‘Until the American People Close the Door’
Former U.N. Ambassador and presidential hopeful Nikki Haley delivered a “state of the race”...
Senior House Democrats: We May Not Certify 2024 Election Results If Trump Wins
Senior House Democrats: We May Not Certify 2024 Election Results If Trump Wins
Senior House Democrats signaled they may not certify the 2024 presidential election results if former...
Top Republican Warns Border Crisis is Getting Worse
Top Republican Warns 'Border Crisis' is Getting Worse
Republican lawmakers have sounded the alarm about a new security threat at the U.S.-Mexico border. Rep....
Letitia James Threatens to Seize Trump’s Assets If He Can’t Pay Fine
Letitia James Threatens to Seize Trump’s Assets If He Can’t Pay Fine
New York Attorney General Letitia James warned former President Donald Trump she would seize his assets...
Trump: ‘I Would Rather Lose My Freedom than Surrender’
Trump: ‘I Would Rather Lose My Freedom than Surrender’ - WATCH
Former President Donald Trump said he will stand against the “corrupt” judicial system, even...
0
What are your thoughts? Click to commentx
()
x

JOIN THE FIGHT!

SIGN UP FOR OUR FREE BREAKING NEWSLETTER STRAIGHT TO YOUR INBOX! 

We don’t spam! Read our Privacy Policy for more info.