AP Photo/Alex Brandon When is a recession not a recession? When Presidentish Joe Biden says it ain’t, Jack.
Axios reported that White House economic advisors on Thursday moved the goalposts on what a recession is. The traditional definition of a recession is two or more quarters of economic shrinkage but the Administration argues that “by most measures,” according to Axios, “the world’s largest economy remains comfortably in expansion mode.”
That’s why the White House “is seeking to preempt heightened recession chatter that would accompany two quarters of shrinking GDP.”By changing the accepted definition.Citing a “holistic look at the data,” the […]