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Tipsheet

Media Fall in Line With Biden to Redefine Recession

(AP Photo/Susan Walsh)

Over the weekend the Biden White House officially started their push to redefine what it means for the U.S. economy to be in a recession as the country braces for an updated GDP number -- confirming two consecutive quarters of negative growth -- on Thursday. 

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"What is a recession? 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. Instead, both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data—including the labor market, consumer and business spending, industrial production, and incomes. Based on these data, it is unlikely that the decline in GDP in the first quarter of this year—even if followed by another GDP decline in the second quarter—indicates a recession," the White House released Sunday. 

The administration also sent Treasury Secretary Janet Yellen out to the Sunday shows to redefine the term. 

Now, the leftist media is pushing the White House narrative with the Associated Press leading the way. 

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Meanwhile, the recession started on July 1. 

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