Recession Deniers: Tapper & Biden Argue Over The Next Recession

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CNN likes to repeat the slogan “facts first”, but on Tuesday night facts took a backseat to the Democrat Party narrative that we aren’t in a recession during Jake Tapper’s premier as a regular prime-time show host at CNN Tonight. During his exclusive interview with President Joe Biden, Tapper pushed the false claim that the United States isn’t currently in a recession, but rather that we are expected to be in one soon. 

“JPMorgan Chase CEO said the U.S. is likely to enter a recession in the next nine months. Bank of America says the U.S. could start losing 175,000 jobs a month. Gas prices are on the rise again,” Tapper said, before asking: “Should the American people prepare for a recession?”

American consumers aren’t preparing for a recession, they are trying to survive the current Biden spending-induced recession. That is news to Jake Tapper apparently, since he believes the recession is only on the horizon. 

Biden, getting defensive, grumbled “No.” Adding: “They have been saying this now every six months they say this. Every six months they look down the next six months and say what’s going to happen. It hadn’t happened yet.” 

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“I don’t think there will be a recession. If it is, it will be a very slight recession. That is, we’ll move down slightly,” Biden predicted. 

The President then suggested that “we’re in a better position than any other major country in the world economically and politically.”

Biden then touted his massive government spending programs which led to this 40-year-high inflation: 

We passed so much legislation that significantly makes a point about, you know, for example, the American Rescue Plan, the legislation that deals with inflation—the Inflation Act. We moved along–I mean, there’s so much that’s been accomplished that the idea that there’s something–- there’s a recession, is just not there.

Jumping in, Tapper sought to clarify: “But you just said that a slight recession is possible.”

“It is possible. Look, it’s possible. I don’t anticipate it,” Biden mumbled. 

No matter how many lies or ridiculously false statements Biden made during this interview, Tapper refused to challenge or correct him. Not a good first night for Tapper. 

This segment was made possible by Liberty Mutual. Their information is linked. 

To read the transcript of this exchange click “expand”: 

CNN Tonight
10/11/2022
9:26:29 p.m. Eastern 

JAKE TAPPER: The midterm elections are four weeks from today. The economy remains top of mind for voters. JPMorgan Chase CEO said the U.S. is likely to enter a recession in the next nine months. Bank of America says the U.S. could start losing 175,000 jobs a month. Gas prices are on the rise again. Should the American people prepare for a recession? 

PRESIDENT JOE BIDEN: No. Look, they have been saying this now every six months they say this. Every six months they look down the next six months and say what’s going to happen. It hadn’t happened yet. There is no–there’s no guarantee that they’re–I don’t think there will be a recession. If it is, it will be a very slight recession. 

That is, we’ll move down slightly. Look, think about what’s happened. We have done more — we’re in a better position than any other major country in the world economically and politically. We still have real problems, but look what we got done. 

We passed so much legislation that significantly makes a point about, you know, for example, the American Rescue Plan, the legislation that deals with inflation—the Inflation Act. We moved along–I mean, there’s so much that’s been accomplished that the idea that there’s something–- there’s a recession, is just not there. They’ve been predicting this off and on for the last–

TAPPER: But you just said that a slight recession is possible. 

BIDEN: It is possible. Look, it’s possible. I don’t anticipate it. But I do think—look, we talk about the impact on families. The families are—they have reason to be concerned about energy prices. They have reason to be concerned about a whole range of issues. But look what we’ve done. We’ve been able to–the Inflation Reduction Act. 

I know I’m always quoting my dad, but my dad used to say, what is there any breathing room for a middle-class family? And the breathing room is after all the bills are paid at the end of the month if they have anything left. There’s more than one way to bring down the cost, monthly cost for people who, in fact, are struggling to make sure ends meet and they have enough money. 

That’s what we’ve done with the Inflation Reduction Act. Look, we reduced drug prices. We’ve allowed for the first time we’ve been trying for years to get Medicare to be able to negotiate drug prices. We pay the highest drug prices of any nation in the world, any major nation. We’re going to be in a situation where no senior is going to have to pay more than $2,000 a year for the drugs no matter how much they cost. 

We’ve reduced—we’re going to make sure that nobody has to pay more than $35 a month for Insulin, et cetera. So there’s so much we’ve done and the same with energy. Look, when I ran, I said we’re going to deal with energy. 

TAPPER: Right. 

BIDEN: And the energy problem, we’re going to deal with the whole notion of global warming. We passed $368 billion worth of help, which as the bankers talk about is going to bring billion, trillions—billion dollars off the sidelines in investment. Look what’s happened. Look at the investment that’s going on in America right now.

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