Biden avoids saying ‘recession’ as economy declines in consecutive quarters

President Biden won’t say the “r-word.”

No, not that “r-word” — “recession.“

Biden ducked the term in his initial statement Thursday about the US economy contracting for a second straight quarter — after the White House insisted that the long-accepted definition of a recession no longer applied.

“Coming off of last year’s historic economic growth – and regaining all the private sector jobs lost during the pandemic crisis – it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” the president said in a written statement.

“But even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure.”