Press ReleaseJuly 28, 2022

Commerce Department Confirms the Biden Recession

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to today’s announcement by the Commerce Department that second-quarter GDP declined by 0.9%:

“The Commerce Department has confirmed what ordinary Americans and small business owners already know by indicating the economy is in a recession, shrinking for two consecutive quarters. Yet don’t expect this memo to reach the White House, which has been busy trying to prebut today’s GDP release by claiming the longstanding recession definition of two consecutive quarters of negative economic growth is inaccurate. This is a desperate and shameful attempt to move the recession goalposts to prevent Biden from being labeled a recession President. Americans don’t care about this technical definition but have long been suffering from sky-high gas prices and skyrocketing inflation. Rather than playing semantic games, the Biden administration should spend its time working on getting the country out of this recession of its own making. This means opposing the latest tax-and-spend reconciliation bill that would fuel inflation and kills jobs at the worst possible time.”