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Deflating Inflation in Recession

Deflating Inflation in Recession

Last quarter we had almost a full percentage point drop in gross national product. That followed a similar drop in the spring quarter. Technically, therefore, the United States is in recession. The president, however, stepped in quickly and solved the problem by redefining what constitutes a recession. He's good at that. Look at how effortlessly he redefined the border crisis by asserting we were firmly in control of our borders.We're now told that low unemployment levels prove there is no recession (even though generous benefits plus COVID have contributed to a decrease in the number seeking employment). There are, furthermore,

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