Joe Biden “jokingly” told a reporter today that she sounds like a Republican politician after being asked about recession concerns.
The question came as Biden soaked in the sun for another day at his Delaware vacation house, due to today being the Juneteenth federal holiday that he declared last year.
Breaking911 shared a clip of the exchange in a tweet:
REPORTER: “Economists are saying a recession is even more likely than ever.”
BIDEN: “No, the majority of them aren’t saying that. Come on. Don’t make things up, OK? Now, you’re sounding like a Republican politician. I’m joking. That was a joke.”
“All kidding aside, no I don’t think it is. I was talking to Larry Summers this morning and uh, there’s nothing inevitable about a recession,” Biden insisted.
Summers said Sunday on NBC’s “Meet the Press” that while “Nothing is certain, and all economic forecasts have uncertainty,” his “best guess” is that a recession is ahead.
Biden then pivoted to discussing medicare and getting a reduction in the cost of insulin.
REPORTER: "Economists are saying a recession is even more likely than ever."— Breaking911 (@Breaking911) June 20, 2022
BIDEN: "No, the majority of them aren't saying that. Come on. Don't make things up, OK? Now, you're sounding like a Republican politician. I'm joking. That was a joke." pic.twitter.com/Ri5gO5cs6o
A new survey of leading economists suggested that the probability of the U.S. hitting a recession within the next year is about 44 percent.
According to the Wall Street Journal, that’s the highest probability for a recession in the next year since the newspaper began asking the question in 2005.
Economists only assigned a 38 percent probability of a recession before the 2007 to 2009 recession and prior to the 2020 pandemic recession, they gave the economy a 28 percent probability of hitting a significant economic downturn.
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