Editor, Ceres Courier,
We are in an official recession after Biden and the Democrats had “enacted policies (out of control spending) that were harmful to the American economy.”
Knowing Biden and Democrats created this recession, they tried to redefine the official definition of a recession like they tried to redefine the definition of a “woman” or redefine what a “crisis” or “invasion” of the border is. An official recession is two quarters of contraction in the government of negative GDP. This has always been the official definition of a recession.
Biden emphasized the risk of insufficient stimulus in February 2021 and in March 2021, Biden signed a $1.9 trillion economic plan passed by only Democrats with united Republican opposition.
Biden and the Democrats rammed a stimulus package of trillions of dollars to bail out poorly run states, kickbacks to supporters and increased spending to Democrat pet projects. Very little went to stimulate businesses.
Democrats have weakened the economy. Oil and food prices are soaring. Across the board, everything is going up from lumber to corn while retail spending is down.
Some are comparing this to the early stages of the Great Depression, when the economy collapsed due to a slowing economy where people reduced their purchasing power.
The Democrats and Biden ignored the warning signs of the coming recession or were their non-actions deliberate all along?
Sadly, just over two years ago under President Trump, America had the best economy in history with historic low unemployment, low interests rates and low inflation. However, the result of Democrat policies has produced a sinking economy with rapid inflation, increased unemployment, declines in GDP, uncertainty of stock market strength, shifting interest rates, and declining consumer confidence. All of which has made our economy weak with the Democrats having no one to blame except themselves.
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