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Politics

RECESSION ARRIVES: Consecutive GDP Drops Make it Official

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Well folks, the day that Joe Biden told us wasn’t inevitable has now inevitably arrived:  The United States has fallen into recession.

With the GDP now falling for the second consecutive quarter, only the dense or foolish would suggest that we haven’t yet crossed that threshold.

The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.

Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.

Of course, the government has built itself some buffer in the messaging, but given their reticence to address the issue, we shouldn’t be holding our breath for any declaration, anytime soon.

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Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer.

And so now, just 18 months into the Biden presidency, real economic trouble has landed on our doorstep, yet the White House remains committed to some fairy-tale version of fiscal events.

These abject economic failures are now the big story of the 2022 midterms, and the Democrats will need to atone for their inaction, lest they wish to have inflation-battered voters send them packing.

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About the Author:
As a lifelong advocate for the dream promised us in the Constitution, Andrew West has spent his years authoring lush prose editorial dirges regarding America's fall from grace and her path back to prosperity. When West isn't railing against the offensive whims of the mainstream media or the ideological cruelty that is so rampant in the US, he spends his time seeking adventurous new food and fermented beverages, with the occasional round of golf peppered in.




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