Wonder why the US economy is NOT in recession despite the fact that we've had two consecutive quarters of shrinking GDP?
The White House provides 90% of the budget for a company in Cambridge, MA that is contracted to announce the beginning and end of recessions. They redefined the term and say we are NOT in a recession.
Earlier today President Biden confidently claimed that a recession was not inevitable1 despite the fact that the American people have suffered through two consecutive quarters of shrinking GDP.2 The Oxford English dictionary defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally ide…
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