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The Byron York Show

The Biden Recession

The Byron York Show

Radio America

News Commentary, News, Politics

4.81.2K Ratings

🗓️ 28 July 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

This morning the Commerce Department announced the economy shrank by 0.9% in the second quarter of 2022. That comes after the announcement last April that the economy contracted by 1.6% in the first quarter of this year. Now, the United States has had two consecutive quarters of negative economic growth, which is the popularly accepted definition of a recession. So it's official: The U.S. is in a recession.

Transcript

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0:00.0

This week on the Federalist Radio Hour, it's almost impossible for us to know what the

0:05.0

exact cost and it's hard for us to say that's exactly what was happening in you

0:09.5

all day but it's likely that this is affecting the way that police do their

0:12.7

jobs. Subscribe to the Federalist.itunes or wherever you get your podcasts.

0:17.1

Hello and welcome to the Byron York Show, the No-Chit Chat Podcast. We like to get

0:25.7

right into it and you're not going to be shocked at what we're going to get into

0:28.5

today is the Biden Recession. Yes, there is a Biden Recession. So the Commerce

0:34.9

Department has announced that the United States economy shrank by 0.9% in the

0:43.2

second quarter of 2022. Now that comes after the announcement a few months ago

0:47.6

last April that the economy had contracted by 1.6% in the first quarter of 2022.

0:54.0

Now that is two quarters right next to each other in which the United States

0:59.1

economy contracted. So the US has had two consecutive quarters of negative

1:04.7

economic growth which is the popularly accepted definition of a recession. So

1:12.2

it's official. The US is in recession except it's not really official. If if

1:18.1

official means recognized by the White House by the Executive Branch then it's

1:23.6

not official. Denying longstanding standards the Biden administration will not

1:29.8

admit that the economy is in recession. Now the Commerce Department announcement of

1:37.5

the growth numbers, the negative growth numbers, was Thursday morning at 8.30. Now

1:42.4

this is scheduled for months, years, and advance. These announcements come every

1:46.1

month. It was known to be coming and it was thought that it was going to be

1:49.8

negative. So what you saw was the administration go into gear well before that,

1:55.6

at least a week before that, arguing that if the number is negative and now we know

...

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