The Biden administration is attempting to redefine the term “recession” in an apparent public relations push to mitigate backlash for the current state of the U.S. economy, which has been ravaged by soaring inflation.
In April, newly released figures showed the U.S. the economy shrank 1.6% in the first quarter of this year. The latest gross domestic product numbers for the second quarter are set to be released on Thursday.
For decades, experts have defined a recession as two straight quarters of negative GDP growth. If Thursday’s numbers show the economy contracted in the second quarter, confirming a decline in economic activity over a six-month period, January through June, the U.S. would, according to the generally accepted definition, be in a recession.
Recently, however, several Biden administration officials have attempted to obscure the definition of a recession to argue the U.S. isn’t facing a recession, regardless of what the second quarter figures show.
What do you think? Is the U.S. in the middle of a significant economic downturn, or do you believe what the White House and Treasury Department are saying? Here’s your chance to weigh in: