President Joe Biden admits that a “slight recession” could occur in the near future.
While most Americans are feeling “recession-like” conditions and the most common indicator of a recession, “back-to-back consecutive quarters of negative GDP growth,” happened at the end of the second quarter of 2022, Joe Biden’s admission is still a surprise to many.
During an interview with Jake Tapper on CNN, Biden was asked, “Should the American people prepare for a recession?” An obvious question that any reporter should have asked in an interview like this one, Biden should have been well prepared with talking points while never admitting that a recession is possible.
Instead, Biden fumbled around with his response and admitted that one was possible. Biden initially answered, simply, “No.” But he did not stop there. “Look, they’ve been saying this now-every six months they say this, every six months, they look down at the next six months and see what’s gonna happen. It hadn’t happened yet. I don’t think there will be a recession. If it is, it will be a slight recession — that is we’ll move down slightly.”
— Reuters (@Reuters) October 12, 2022
Tapper followed up, “You just said that a slight recession is possible.” To which Biden replied, “It is possible. Look, it’s possible. I don’t anticipate it.”
The economic numbers across the board in America are trending down. Annual inflation in June was 9.1% and it has not been under 8% since February, when it was 7.9%. Whether the president believes we are in a recession or not, these numbers are almost unheard of for seven months in a row.
With the economy like it is and Biden’s approval rating hovering around 40%, Tapper asked if he would run for president again in 2024. Biden’s response was that after the midterm elections, “I’m going to be in the process of deciding.”
For an incumbent not to run for a second term is not unheard of, but it is very rare and has happened only six other times in history.
Tapper asked if one of the “calculations” Biden was using in his decision to run was whether or not he could beat Trump again in 2024. Biden said, “I believe I can beat Donald Trump again.