On Thursday morning, The Bureau of Economic Analysis (BEA) released their third and final revision on the nation’s GDP growth for the second quarter and it wasn’t good. The BEA found that the economy shrank 0.6 percent for the second straight quarter which means the United States economy is in a recession. Knowing this news is bad for the Biden administration and the Democrat Party, the evening newscasts made sure to cover it up.
ABC’s World News Tonight and NBC Nightly News both ignored the news entirely, while CBS Evening News allowed a scant 22 seconds to the story while avoiding the word “recession” or tying Biden and his disastrous economic policies to this in any way.
While CBS at least covered the negative GDP growth revision, ABC & NBC decided Queen Elizabeth’s autopsy report showing she died of old age, or Ginni Thomas’s beliefs on the validity of the 2020 elections were more important than the nation’s economy.
During CBS’s quick report, anchor Norah O’Donnell announced “the U.S. economy got a bad report card today showing a second straight quarter of economic contraction.”
She then moved on to surging interest rates that have skyrocketed “for the 6th week in a row moving closer to 7 percent on a 30-year fixed.” Adding “that’s actually the highest level in 15 years.”
Closing out the segment, O’Donnell noted how “all three major stock indices were down today.” And that “U.S. stocks have lost more than 20 percent of their value this year.”
ABC & NBC’s bias by omission and CBS’s quick hit-and-run report on the Biden recession were made possible by Verizon on ABC, Nature’s Bounty on CBS, and Progressive on NBC. Their information is linked so you can let them know about the biased news they fund.
The CBS Evening News transcript is below:
CBS Evening News
6:50:09 p.m. Eastern
NORAH O’DONNELL: Well, the U.S. economy got a bad report card today showing a second straight quarter of economic contraction. Mortgage rates surged for the 6th week in a row moving closer to 7 percent on a 30 year fixed that’s actually the highest level in 15 years. All three major stock indices were down today. U.S. stocks have lost more than 20 percent of their value this year.