There's been much ado about whether the United States is in a recession or not as the White House literally rewrites economic lexicons to bend reality and make things look more favorable for President Joe Biden and Democrats on the ballot in November's midterms. Some in the mainstream media are indulging the Dems' talking points and saying "the definition of recession is much squishier" than the textbook definition that even CNN has been using in segments recently.
The National Bureau of Economic Research (NBER) is the nongovernmental body — via its Business Cycle Dating Committee — that determines when a recession starts and ends, supposedly free from political influence. But is the NBER really an impartial, apolitical crew?
A review of Federal Election Commission (FEC) records — searched via OpenSecrets — conducted by Townhall showed found tens of thousands of dollars in political contributions matching the names, locations, and employers of the NBER's Business Cycle Dating Committee's members.
The Business Cycle Dating Committee is currently made up of eight members from supposedly "elite" institutions of higher education, and includes the married couple of Christina and David Romer from U.C. Berkeley who were found to be the most generous to Democrats seeking elected office — including Joe Biden.
Christina Romer — who served on the committee from 2003 to 2008 and joined the group again in 2010 — has given more than $30,000 to Democrats, including President Joe Biden. Here's just a sampling of her donations:
- $500 to Heidi Heitcamp in 2018
- $500 to Jason Crow in 2018
- $1,950 to Hillary Clinton in 2016
- $500 to Barack Obama in 2008
- $750 to Elizabeth Warren in 2012
- $1,000 to Hillary Clinton in 2016
- $250 to DNC Services Corp. in 2008
- $750 to Barack Obama in 2007
- $750 to Elizabeth Warren in 2011
- $750 to Hillary Clinton in 2016
- $1,400 to the Democratic Party of Virginia in 2017
- $1,000 to the Democratic Party of Virginia in 2018
- $500 to Elizabeth Warren in 2021
- $500 to Barack Obama in 2007
- $250 to Wesley Clark in 2004
- $1,000 to Pete Buttigieg in 2020
- $250 to Amy Klobuchar in 2019
- $500 to Pete Buttigieg in 2019
- $2,800 to Joe Biden in 2020
- $500 to Kyrsten Sinema in 2018
- $500 to Jacky Rosen in 2018
- $250 to Jon Tester in 2018
- $500 to Beto O'Rourke in 2018
- $750 to Tim Kaine in 2012
- $1,700 to Tim Kaine in 2017
- $1,500 to Tim Kaine in 2016
- $750 to Tim Kaine in 2012
- $1,000 to Barack Obama in 2011
- $500 to Tim Kaine in 2011
- $1,000 to Tim Kaine in 2012
- $744 to Barack Obama in 2012
- $1,100 to Tim Kaine in 2016
- $3,000 to Common Ground PAC (Tim Kaine's leadership committee) in 2013
- $1,000 to John Kerry in 2004
- $994 to Barack Obama in 2011
- $500 to Claire McCaskill in 2018
- $250 to Bill Bradley in 1999
- $500 to Colin Allred in 2020
- $1,450 to Tim Kaine in 2022
Christina's husband, David Romer, has been on the committee since 2010 after previously serving from 2003 to 2009. His donations to Democrats topped $38,000, again including contributions to Joe Biden:
- $1,000 to the Democratic Party of Virginia in 2018
- $500 to Jason Crow in 2018
- $850 to Hillary Clinton in 2016
- $500 to Elizabeth Warren in 2011
- $500 to Barack Obama in 2008
- $1,000 to Hillary Clinton in 2016
- $500 to Barack Obama in 2007
- $500 to Elizabeth Warren in 2012
- $250 to Elizabeth Warren in 2012
- $850 to Hillary Clinton in 2016
- $750 to Barack Obama in 2007
- $1,950 to Hillary Clinton in 2016
- $750 to Elizabeth Warren in 2012
- $2,000 to the Democratic Party of Virginia in 2017
- $1,000 to the Democratic Party of Virginia in 2018
- $300 to Barack Obama in 2008
- $750 to Elizabeth Warren in 2011
- $500 to Steve Bullock in 2020
- $2,800 to Joe Biden in 2020
- $500 to Kyrsten Sinema in 2018
- $300 to Tim Kaine in 2017
- $500 to Jacky Rosen in 2018
- $500 to Heidi Heitkamp in 2018
- $250 to Jon Tester in 2018
- $250 to Heidi Heitkamp in 2018
- $500 to Beto O'Rourke in 2018
- $2,400 to Tim Kaine in 2016
- $5,000 to Common Ground PAC (Tim Kaine's leadership committee) in 2015
- $1,000 to Tim Kaine in 2012
- $2,000 to Tim Kaine in 2015
- $1,500 to Tim Kaine in 2016
- $3,000 to Common Ground PAC (Tim Kaine's leadership committee) in 2013
- $400 to Bill Bradley in 1999
- $1,450 to Tim Kaine in 2022
Robert J. Gordon of Northwestern University has been on the committee since 1978 and he also gave to multiple Democrats according to FEC filings totaling a few thousand dollars:
- $500 to DNC Services Corp. in 2018
- $250 to Claire McCaskill in 2018
- $500 to Matt Longjohn in 2018
- $500 to Bill Foster in 2016
- $250 to LMG PAC supporting Jaime Harrison in 2020
- $250 to Raja Krishnamoorthi in 2020
- $250 to Raphael Warnock in 2020
James Stock served on the committee from 2009 to 2012 and joined it again in 2016, and his donations top $5,000, including $2,800 to Joe Biden.
- $500 to Hillary Clinton in 2016
- $375 to Barack Obama in 2012
- $1,000 to Barack Obama in 2012
- $500 to Pete Buttigieg in 2019
- $2,800 to Joe Biden in 2020
Making fewer political contributions but still showing partisan preference are Robert Hall of Stanford University who FEC record searches turned up just one $450 donation to Josh Harder in 2018 and Valerie Ramey of U.C. San Diego who have $500 to Democrat city council candidate Sherri Lightner in 2012. MIT's James Poterba also only turned up one donation — $250 to an independent in 2012. The remaining committee member, Mark Watson of Princeton University, turned up no matching FEC donor records.
The larger NBER board of directors that, as its website explains, "exercises all of the powers of the Corporation and is responsible for establishing its policies and supervising the direction and management of its affairs." The board's chair and vice chair both also gave thousands to Democrats.
NBER Chair John Lipsky has made $7,500 in donations to Senate Majority Leader Chuck Schumer between 2000 and 2021, along with $250 given to Bill de Blasio in 2011. NBER Vice Chair Peter Blair Henry turned up records of $4,000 to Barack Obama between 2007 and 2012.
Of course, the NBER board leaders and Business Cycle Dating Committee members are free to make contributions to anyone they like, but the one-sided financial support by a majority of the members show an underlying lack of intellectual diversity among the group. What's more, the direct contributions to Biden in 2020 from some of those responsible for declaring the U.S. economy in a recession on his watch sets up a unique conflict of interest of which Americans being told "there is no recession" ought to be aware. The committee is not an entirely independent body if its members have a financial stake in supporting one party's future and previously supported the officeholder(s) who stand to suffer politically depending on whether a recession is or is not declared.