It’s official, Thursday’s report by the Bureau of Economic Analysis showed that the GDP fell 0.9% in the second quarter.
These two indicators, along with the decrease in the gross domestic product of 1.6 percent in the first quarter, are classic indicators of what is known as a recession. Unless you listen to “economists” such as Paul Krugman of the NY Times, the Democrat apologists, or any other member of the Biden administration, including Joe Biden.
However, no matter what they say, we are in a recession. As Sen. John Kennedy (Republican from Louisiana) explained, a recession is where we are. During an epic roasting that he gave Joe Biden Thursday morning during a “Fox and Friends”, he explained that Americans care about “a slowing economic recovery and rising prices,” regardless of how many ideologically driven economists and Biden administration officials “dance the head of a pin” trying to suggest otherwise.
Kennedy stated in a classic style that “I think the administration’s position is the definition for a recession is whatever it is in the Teleprompter,” when Kennedy was asked about Team Biden’s ongoing efforts to redefine the word. This farcical spectacle is embarrassing. The majority of Americans don’t care much about the debate or how many economists can dance on a pin’s head. They see a slowing economy and rising prices. This is classic stagflation.
“President Biden refuses to acknowledge it”. Kennedy continued to explain why the unemployment numbers were so low by saying, “Yes, but unemployment’s low”. “Well, there’s a reason. People don’t work. The unemployment rate is not what you should be looking at. Instead, you look at the labor force participation rate”.
Kennedy noted that there have been a lot of people who retire and a lot of people who refuse to return to work. “They are now riding in wagons, and everyone else has to pull the wagon.” “The bottom line is that the economy stinks. It’s not getting any better.”
He also suggested that the recently announced Biden/Manchin/Schumer $670 billion deal that the media has been salivating over for the last 24 hours or so was not going to solve the problem.
“This new tax deal and Green New Deal announced by Senator Schumer and President Biden and Senator Manchin… You know, Joe is an intelligent guy. He knows this is nothing but a big money suck. And it is just going to get worse until Congress stops the spending,” Kennedy stated.
He went further by pinning the country’s economic problems not just on Biden but on the Democrats in the House and Senate and Republican enablers, giving “credit where credit is due.”
“And let me give credit where credit is due,” he said. “The inflation started with President Biden’s $1.92 trillion American Rescue Plan, but it has continued with all Democrats in the Senate and the help of, I don’t know, 15% of the Republicans who continue to vote to spend money that we don’t have.”
.@SenJohnKennedy : Bottom line is the economy sucks. pic.twitter.com/Tzk58X3KJ6
— MRCTV (@mrctv) July 28, 2022
For anyone who is interested, the full interview can be found below:
I wish we could clone Senator John Kennedy because we need more people with the balls to stand up as he does in Congress.