This is Something to Think About 07.29.22 "The Politics of Recession"
Something to Think About
Audio By Carbonatix
Bill Bunkley’s “This Is Something to Think About”
Air Date Friday, July 29, 2022
“The Politics of Recession”
The American economy is officially in a recession.
That is if you use the yardstick that has been the accepted measurement for decades: two consecutive quarters of a negative Gross Domestic Product or GDP.
The 2022 1st quarter GDP declined worse than expected at 1.6%, and now the 2nd quarter GDP dropped .90%, meeting the long-held view that we are in a recession.
But hold on, in the past few days, the Spinner in Chief and his handlers have been saying the old definition of a recession is no longer valid.
How convenient.
Biden’s Secretary of the Treasury Janet Yellen, the former Federal Reserve Chair with a giant Pinocchio for saying months ago that rising inflation was transitory, is leading the deceptive parade.
That’s pure damage control.
My opinion is we are in a recession; the only question is how deep it will go.
Bill Bunkley is a 16-year veteran Salem Radio talk show host based in west-central /Florida, airing weekdays 3 to 6 pm. Bill is also President of the Florida Ethics & Religious Liberty Commission, which serves as legislative consultant to the Florida Baptist State Convention (Southern Baptist Churches throughout Florida), among other churches and entities. He has served as legislative consultant to the Convention for the last 26 years at the state capitol in Tallahassee. By the Grace of his Lord Jesus, he is a cancer survivor diagnosed in 2018 with AML Leukemia, having successfully undergone a bone marrow transplant that same year.
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