Biden Administration Desperately Tries to Move the Recession Goalposts

Washington, DC (July 25, 2022) — Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement responding to Biden administration officials trying to redefine a recession:

“As I predicted, the Biden administration is trying to move the recession goalposts from the traditional definition of two consecutive quarters of negative economic growth to pretend the economy is not in a recession. This is a desperate attempt to prevent Biden from being labeled a recession President, which would further hurt Democrats’ chances in the midterm elections this fall. But even following the administration’s request to take ‘a holistic look at the data’ still indicates the economy is in recession. Historic inflation, a declining labor force, cratering financial markets, and record-low consumer confidence only bolster recession indications. No matter how the administration tries to slice it, the economy is in recession. And the Biden administration only has itself to blame. No wonder it’s trying so hard to redefine what a recession is. This is another Biden administration trick that ordinary Americans won’t fall for.”