we're in a recession

We’re in a recession – despite any rosy indicators

Originally published at City & State PA

Is the economy in a recession? Facts tell us yes – regardless of what the Biden administration claims.  

Real U.S. gross domestic product (GDP) – our nation’s total economic output – declined by 0.9% in the second quarter of 2022, following a decline of 1.6% in the first quarter. Historically, economists have considered two consecutive quarters of negative growth a recession. 

The Biden administration and media defenders challenge the standard interpretation of “recession,” arguing that other indicators show the economy’s in pretty good shape. But denying a recession is more about alleviating voter fear than accurately representing the current state of the economy.  

Read more at City & State PA