The nonpartisan, free-market group Job Creators Network is putting up a billboard Friday in Times Square poking fun at attempts by the Biden administration to redefine “recession.”
The move follows the federal government announcing a day earlier that the country’s gross domestic product – or the value of all goods and services produced over a year – declined for a second-straight quarter.
The consecutive declines and other economic conditions meet a commonly used definition of a recession.
The billboard, in the heart of New York City, is headlined, “READ MY LIPS: NO NEW RECESSION” – referring to the famous line delivered by George H.W. Bush regarding taxes.
Bush said, “Read my lips, no new taxes.”
The billboard also reads, “IT’S THE ECONOMY STUPID!” and features a picture of President Biden.
“This week’s GDP report confirms what Americans already knew – the economy is in a recession,” said Job Creator Network President and CEO Alfredo Ortiz. “Working families and small businesses are already feeling the squeeze as the economy slows and prices rise at the quickest pace in four decades. Unfortunately, the Biden administration is in denial and continues to do everything it can to message the recession out of existence.”