Morning Jolt: Biden’s Unrealistic Optimism

On the menu today: "We’re not gonna be in a recession in my view," President Biden told reporters yesterday. The only person who should be making guarantees of victory is Joe Namath. We will know if the U.S. has endured two consecutive quarters of a shrinking GDP on Thursday morning. But this is likely to be just the latest chapter in a long story of Joe Biden assuring Americans that everything is going to be okay, only to watch everything fall apart a short time later.

The Curse of Biden's Optimism

President Joe Biden, still in isolation but reportedly recovering well from Covid-19, offered a bold prediction on Monday that could look quite foolish by the end of the week:

We’re not gonna be in a recession in my view. The employment rate is still one of the lowest we’ve had in history to the 3.6 [percent] area. We still find ourselves with people investing. My hope is we go from this rapid growth to steady growth and uh, so see, we’ll see some coming down. But I don’t think we’re going to, uh ,God willing, I don’t think we’re going to see a recession.

As discussed yesterday ...

WITH JIM GERAGHTY July 26 2022 WITH JIM GERAGHTY July 26 2022 Biden's Unrealistic Optimism On the menu today: "We’re not gonna be in a recession in my view," President Biden told reporters yesterday. The only person who should be making guarantees of victory is Joe Namath. We will know if the U.S. has endured two consecutive quarters of a shrinking GDP on Thursday morning. But this is likely to be just the latest chapter in a long story of Joe Biden assuring Americans that everything is going to be okay, only to watch everything fall apart a short time later. The Curse of Biden's Optimism President Joe Biden, still in isolation but reportedly recovering well from Covid-19, offered a bold prediction on Monday that could look quite foolish by the end of the week: We’re not gonna be in a recession in my view. The employment rate is still one of the lowest we’ve had in history to the 3.6 [percent] area. We still find ourselves with people investing. My hope is we go from this rapid growth to steady growth and uh, so see, we’ll see some coming down. But I don’t think we’re going to, uh ,God willing, I don’t think we’re going to see a recession. As discussed yesterday ...   READ MORE

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