Posted BY: Jeffrey Folks
In “The Emperor’s New Clothes,” the emperor is gulled by a conman who convinces him to purchase “invisible clothes.” Determined that he is right — and determined not to admit his mistake — the emperor parades around in his finely woven suit of clothes, totally naked and without comment from the crowd until a young boy cries out, “He’s not wearing any clothes.”
Biden’s troop has been out claiming that the recession we’re in, defined as two consecutive quarters or GDP decline, is not really a recession. The definition of a recession, they say, is more complex, and so, “technically,” we’re not in one. It doesn’t take a truthful young boy to point out that this is ridiculous. On Thursday, the Commerce Department reported a decline of 0.9% in the second quarter following a decline of 1.6% in the first quarter. That’s two consecutive quarters of GDP decline, so we’re in a recession.
Why does Biden choose to parade around naked in spite of the economic data? Not just because he doesn’t want to take responsibility for his mistakes, which caused the recession, but because he wants to continue with them. Admitting the truth would mean he has to examine his policies and begin correcting them. But Biden has never reversed a single one of his failed economic policy decisions.