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America is in a Recession and Biden Remains Delusional

America is in a recession and has been since July, but Joe Biden remains delusional about the suffering Americans face.  Last night, Biden denied America’s recession, and in response to Jake Tapper’s question on whether families should prepare for one, he said, “It hasn’t happened yet…if it is, it’ll be a very slight recession.”  BIDEN’S ECONOMIC CRISIS:
  • The GDP decreased at an annual rate of 0.6% in the second quarter of 2022, according to the final estimate released by the Bureau of Economic Analysis. 
    • This follows a GDP decline of 1.6% within the first quarter, meaning that we have hit the rule-of-thumb recession definition: two consecutive quarters with negative GDP readings.
    • The majority of Americans say we are in fact in a recession, according to a recent survey.
  • Inflation is a tax on all Americans.
    • In August, the CPI came in “hotter” than expected at 8.3% for the 12 months ending August.
  • The skyrocketing cost of goods and services will cost the average American household over $700 a month, which adds up to over $8,000 a year. 
  • Food prices alone are up 11.4% since last year, the largest one-year increase in prices since 1979.
  • Real average hourly earnings decreased 2.8%, seasonally adjusted, from August 2021 to August 2022.
    • Inflation has outpaced workers’ wages for 17 months in a row under Joe Biden’s watch. 
  • The median annual rent for Americans is UP 10% compared to last August.
  • Biden’s inflation crisis has cost the average American worker OVER $3,000 in annual income.
  • President Biden has now issued more executive orders than any president since Ford, leaving America’s taxpayers with a $1.5 TRILLION tab as they are already paying more for just about everything. 
MAKE NO MISTAKE: This is the Biden Recession—no one else’s. House Republicans have made a commitment to an economy that’s strong, and that starts with ending the Far Left Socialist policies of Biden and the House Democrats that have led our economy into a recession.  Click HERE for Biden’s Economic Crisis graphics. CTA WEEK OF ACTION REMINDER This week, we are amplifying messages on our commitment to a future built on freedom. Feel free to highlight and flag for us your Commitment to America videos, graphics, and any work your office has done to preserve a future built on freedom using the hashtag #CommitmentToAmerica. Click HERE for messaging on our Commitment to a Future that is Built on Freedom, courtesy of Leader Kevin McCarthy. Click HERE for House Conference graphics on this pillar. Click HERE for our suggested video message script templates for this pillar—but please feel free to personalize!