It’s Official: The Joe Biden Recession Has Begun

No matter how much the White House or its cronies in the corrupt corporate media try to cover up the nation’s economic crises, the U.S. economy is in fact in a recession.

Not only did gross domestic product drop by 0.9 percent in the second quarter of 2022, but inflation reached yet another record high, which severely damaged Americans’ purchasing power. As a result, the U.S. Bureau of Economic Analysis reported decreases in “private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment.”

Real GDP for April through June may look better than the 1.6 percent decrease recorded in the first quarter of 2022, but by all previously held definitions, back-to-back negative quarters signal that the nation is in a recession.

That’s a strong contrast to what the Biden administration — which is in many ways responsible for the nation’s economic state thanks to excessive government spending and the belief that it could “run up national debt without consequence” — preemptively claimed about the current state of the U.S. economy.