Biden: ‘Americans Shouldn’t Believe a Warning’ About Recession; ‘It’s Not Inevitable’

Recession, a prolonged period of economic contraction, is not “inevitable,” President Joe Biden told the Associated Press in a rare sitdown interview last week.

The interviewer noted that Biden has said the economy is strong: “But then you’ve got serious economists who warn of a recession next year. What should Americans believe?” he asked the president.

“They shouldn’t believe a warning,” Biden said:

“They should just say, let’s see. Let’s see, which is correct. And from my perspective, you talked about a recession. First of all, it’s not inevitable. Secondly, we’re in a stronger position than any nation in the world to overcome this inflation. It’s bad.

“Isn’t it kind of interesting? If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I’m not being a wise guy. Someone should ask themself that question. Why? Why is it?

“If it’s a consequence of our spending, we’ve reduced the deficit. We’ve increased employment, increased pay. There was a survey done uh, uh, by the, uh, I forget which one it was, which one it was now, about three months ago. You had more people had lower debt (inaudible) credit cards, more savings in their savings account, higher pay in the job they had, more satisfaction in the job they had, and they were in good shape financially.”

Biden admitted that the American people are “really down,” and he blamed “the failure of the last administration to act on COVID.” (The last administration actually speeded the development of COVID vaccines, and Biden has so far failed in his promise to get COVID under control, as new variants keep spreading.)- READ MORE