In the wake of the United States’ second quarter of negative economic growth, it is probable that the United States will be in recession. Although the decline of 0.9 per cent is not as severe as that of 1.6 per cent, it’s still significant. According to CNBC, the National Bureau of Economic Research is the one that makes the official call on using the term “recession,” but this fits the technical definition.
While President Joe Biden was campaigning in the midst of the COVID-19 pandemic’s height, he boasted about his ability to fight a recession through a tweet that lasted as long as milk during a warm summer day.
“I helped pull this country out of a recession before — and, as president, I’ll do it again,” Biden tweeted on Oct. 11, 2020.
I helped pull this country out of a recession before — and, as president, I’ll do it again.
— Joe Biden (@JoeBiden) October 11, 2020
So what’s the protocol for when the president’s high government spending policies help get the U.S. into a recession?
He’s even made remarks similar to the sentiment in the tweet, such as when he was discussing his economic plan in Sept. 2021, according to the White House:
At the time I was sworn into office as president, America was in the midst of its worst economic crisis since 1929. The three prior months that I was elected President were characterized by a lackluster job market. In fact, there was barely 60,000 more jobs than usual.
Next, we got to work. In March, the American Rescue Plan was passed. It was successful. It’s still working.
Over the last three months, we’ve been creating, on average, 750,000 new jobs per month. Our economy is growing at the fastest rate we’ve seen in nearly 40 years.
This recovery is unprecedented in the entire world. We’re the only developed country in the world whose economy is now bigger than it was before the pandemic.
This is great news but I am sure many Americans struggle to get through the day.
He spoke out about economic recovery as a president and during his Obama years. Now, the country is technically in a recession, and Americans do not need an economist to tell them they’re financially struggling. It is bad news both for Americans and for Democrats. People will be voting in November’s midterm elections, and many of them have their wallets open.
If Biden wants to salvage what’s left of his presidency, he needs a plan, and fast.
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