The last economic word of the White House, designed to soften the strength of a possible recession in 2023, is to tell Americans that it is “inevitable.”
On Sunday, members of President Joe Biden’s team told the organization four times that inflation was inevitable, despite surveys and data pointing to a recession.
“A recession is inevitable,” Energy Secretary Jennifer Granholm told CNN. Status of the Union.
“The president really wants sustainable and steady recovery,” he added.
Treasury Secretary Janet Yellen made the announcement on ABC News. this sunday He says he “does not think a recession is inevitable” but admits that “inflation is unacceptably high”.
Similar phrases were used by Brian Deese, director of the National Economic Council, on CBS News. overlooking the town together Fox News Sunday.
“Not only is the recession inevitable, I think many people underestimate these strengths and the stability of the American economy,” Dees told CBS.
On Fox News, Dees again used the “inevitable” slogan. “Not only is a recession imminent, but what we can do as politicians is to take steps to leverage our unique strengths in the American economy,” Dees said.
While the White House prefers to use that slogan to mitigate a potential recession, a June CFO survey, notes on gas levels, showed that the economy is most likely to enter a recession due to 40 years of high inflation. spending, rising interest rates and supply chain problems. Breitbart News reports:
Seventy-seven percent of CFOs responding to a CNBC survey say the economy will enter recession in the first half of next year. Others believe there will be a recession in the second half of 2023. No one thinks the economy will be able to completely avoid a recession next year.
This gloom stemmed from continued inflation and the Federal Reserve’s policy of tightening monetary conditions to keep inflation down.
41% of CFOs say inflation is the number one external threat to their business. That’s more than double the share of those reporting inflation in the June 2021 survey. In the first quarter of 2021, no CFO said inflation was a major risk group.
The annoying point of view seems incomprehensible to Biden, who also started using the last slogan. He told the Associated Press on Thursday that the recession was “inevitable.” In the same interview, he also stated that he was not to blame for inflation:
If I’m guilty, why is inflation higher in any major industrial country in the world? Are you asking yourself that? I’m not smart. One should ask this question to oneself. Why? Why? Why is this? We’ve reduced the deficit, if it’s a result of our spending. We increased employment, increased salaries. There was a poll, ha, ha, I forgot which one.
On the way to the campaign, then-candidate Joe Biden vowed to wage war on the American oil industry by ending drilling subsidies and examining feasibility. “I want you to look me in the eyes. I assure you, I guarantee you that we will end fossil fuels,” he said.
“No more fossil fuel subsidies,” Biden said on stage during the 2020 Democratic primary debate. “No more drilling, including offshore. “There’s no way the oil industry can continue drilling, period,” he said. “This is the end.”
According to the Energy Information Administration (EIA), Americans will pay $450 more for gas in 2022 than last year, adjusted for inflation. Moody’s estimates that in 2022, inflation will cost families an additional $5,520 per year, or $460 per month.
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Source: Breitbart
