Posted BY: RM | NwoReport
The White House has just redefined the word “recession” because, well, of course they did. A new GDP report is expected Thursday, which many experts anticipate will show growth declines for a second straight quarter.
Since the White House has just put out an updated definition, the Biden administration can plan on evading the r-word entirely. Or so it thinks.
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“While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the White House wrote.
