A White House blog post is accurate about the official definition of what a recession is. The definition wasn't cooked up to protect President Joe Biden.
accused the White House of changing the rules of the game to deny the looming reality of an official recession.
Then, the narrator asks Apple’s Siri to define"recession." Siri responds with a definition, apparently plucked from an:"A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters." The two-quarter threshold mentioned in the video didn’t come from nowhere; it gained a foothold over many years because of its simplicity for the public, news outlets and politicians. It has a good historical track record of lining up with recessions, and it has the advantage of being calculated in real time, rather than months after the fact.
However, the two-quarter threshold cited in the Instagram post has never been official. It’s more like a rough guide — one piece of a complicated puzzle.The Instagram post is misleading in several ways, but especially in accusing the White House of"changing the definition of the word recession."
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Anne Filipic, responsible for building most diverse White House in history, to departAnne Filipic was responsible for building and maintaining the most diverse White House in history while leading the operational backbone of the White House. Now she's expected to leave her role in August.
Weiterlesen »
Obama White House portrait to be unveiled at Sept. 7 eventBarack Obama's presidential portrait will be unveiled at the White House in a September ceremony hosted by his former No. 2, President Joe Biden.
Weiterlesen »
Obama White House portrait to be unveiled at Sept. 7 eventBarack Obama 's presidential portrait will be unveiled at the White House in a September ceremony hosted by his former No. 2, President Joe Biden. Portraits of the former president and Michelle Obama will be presented in the East Room, as is traditional, on Sept. 7, White House press secretary Karine Jean-Pierre said Thursday. It will mark the first time the former first lady has returned to the White House since her husband left office in January 2017.
Weiterlesen »
Jared Kushner's Memoir Reportedly Details Sexism Issues Ivanka Trump Faced During White House YearsJared Kushner is opening up about the sexism his wife, Ivanka Trump, faced in his new memoir.
Weiterlesen »
'Updated' COVID booster to likely be offered in September, White House confirmsChicago's source for breaking news and live streaming video online. Covering News, Weather, Traffic and Sports for all of the greater Chicago Area.
Weiterlesen »