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Hello everybody, I'm Lou Dobbs and welcome to the Great America Show, delighted you're

with us today.

And just one day after President Biden assured us ever so emphatically that we're not in

recession, we find out today we're in, that's right, we're in recession.

That is two consecutive quarters in which the economy has contracted.

And that is the conventional definition of recession.

So the White House of course denies that reality, as it does most realities.

For several days now, the Biden White House has been aggressively arguing that we're

not in recession, that we won't be in recession.

And not only that, presidential advisers have been trying to persuade the national media,

that the conventional definition of recession just is an adequate for the complex times

in which we live.

Ryan Deese is the president's go-to guy on the economy.

He's the director of the National Economic Council and he spends most of his time trying

to convince the national media that he knows more about the economy than the economist.

...