Fox News White House correspondent Jacqui Henry took to Twitter Sunday to point out how the Council of Economic Advisers (Biden administration) are trying to redefine the definition of a recession. Two consecutive quarters without positive economic growth is what defines a recession. Concerned that this week’s GDP report will show the second straight quarter of negative growth, the White House published a blog on their website in an attempt to gaslight Americans into believing we won’t be in a recession if we have another negative quarter.
“Bracing for Impact: You won’t hear Biden’s administration using the R-word even if Thursday’s GDP report shows negative growth for the second straight quarter. The Council of Economic Advisers is redefining what a recession is…” Heinrich said on Twitter.
Bracing for impact: Even if Thursday’s GDP report shows a second consecutive quarter of negative growth, you won’t hear the Biden admin using the R-word.
The Council of Economic Advisers is redefining what a recession is…🤔https://t.co/HHBYJKqP5V pic.twitter.com/gecR93vPPj
— Jacqui Heinrich (@JacquiHeinrich) July 24, 2022
Despite Heinrich and her network doing their best to keep the Biden administration honest, the evening network newscasts had no interest in calling attention to the White House’s gaslighting.
During ABC’s World News TonightTerry Moran, the senior national correspondent tried to help Biden.
“[T]hose key indicators, new home sales, consumer confidence, spending, inflation, the big one on Thursday, economic growth, will tell the tale” Moran said in reference to whether the United States in currently in a recession.
Moran tried covering for the Biden administration that while “the rule of thumb, [is] two straight quarters of negative growth equals a recession” “the White House doesn’t want to use the r-word. Officials pointing to the jobs market, which remains historically strong, and the President saying, God willing, I don’t think we’re gonna see a recession.”
At no point during the segment did ABC note how the administration is redefining recession, just that “the White House doesn’t want to use the r-word” i.e. recession.
More than one NBC Nightly NewsAnchor Lester Holt, and Tom Costello, the correspondent, did present a realistic picture of the economy. However, Biden’s council of economic advisers didn’t mention changing economic definitions.
Costello noted how the “second-quarter GDP numbers could signal that the economy shrank for two quarters in a row. A common definition for a recession.” In the next breath, he added how “Americans are still spending and employers are still hiring. President Biden says a recession is not a done deal.”
ABC and NBC aired segments about the economy. This is the only story that was economic related CBS Evening NewsTampa rents are on the rise in Florida, ran.
The three networks covering for the Biden administration’s economic gaslighting were made possible by Ensure on ABC, Tylenol on CBS, and Liberty Mutual on NBC. They are linked.
ABC’s World News Tonight
July 25, 2022
Eastern at 6:40:47
DAVID MUIR : Now, we’ll bring Terry Moran in Washington live tonight. As the President is recovering, Terry knows that these economic indicators will be out next week. He was actually asked today if he thinks the country might be in recession.
TERRY MORAN. He was David. These key indicators, including consumer confidence and spending, new home sales, consumer confidence, purchasing, inflation, as well as the Thursday big number, economic growth will be telling the tale. According to the White House, the rule is that two consecutive quarters of negative economic growth are signs of a recession. But they don’t like using the word “recession”. Officials point to historically strong jobs markets, while the President says, God willing we won’t see a recession. David?
NBC Nightly News
July 25, 2022
Eastern: 7:22.18 p.m.
LESTER HOLTS: This week, we will learn more about our economy. For example, whether or not we are on the verge of a recession. The Fed has the potential to take action again to slow down the steady rise in prices of many of the things that we purchase. Tom Costello is here.
TOM COSTELLO. In Washington and throughout the United States, inflation is at an all-time high. It has increased 9 percent annually over the past four years. Ali Alvarado (special Ed teacher) from Illinois claims it has taken a heavy financial and emotional toll. Clothes up 5%, gas up almost 60%, and food prices up 10.5 % forcing them to make cuts.
ALI ALVARADO : Now it’s all back to a paycheck-to-paycheck routine and we need to be careful not to go into an overdraft.
COSTELLO – So many families have come to Loudoun County’s food bank for assistance that it ran out of food within 90 minutes.
JENNIFER MOUNTGOMERY (LOUDOUN hunger RELIEF CEO). We see 20-25 new families every week, many of whom are brand new and have never used our services.
COSTELLO. A new AAA poll has found that 88 percent are reducing their driving because of higher gasoline prices. Although prices dropped recently, they still average $4.36 per gallon in the US. The Fed expects to hike interest rates another three-quarters this week, adding more pressure. The second quarter GDP figures could indicate that the economy contracted for two consecutive quarters. This is a common definition of recession.
Americans still spend money and are hiring. Biden states that a recession does not exist.
PRESIDENT JOE BIDEN: God willing, I don’t think we’re gonna see a recession.
COSTELLO – Financial advisors recommend that you pay down your debt as soon as possible, since the interest rate is likely to continue rising through the year and will not be cut until the next one. Lester?