Posted on 08/16/2022 10:27:16 AM PDT by John Semmens
The Second Quarter decline in GDP met the traditional definition of an economic recession. On top of that productivity fell at its steepest pace on an annual basis since this statistic began being recorded in 1948. The price of labor per unit of output rose at a 10.8% rate. That followed a 12.7% rate of growth in the first quarter.
Despite these statistics President Biden continues to insist that "we're not in a recession. A recession is when there are no jobs available, but there are currently over 10 million job openings out there. People aren't taking these jobs because they don't have to. The payments we've been making to them have shown that it is no longer necessary to work in order to survive in America. We've finally achieved what was envisioned for our country so many years ago."
CNN analyst Ryan Lizza cited Biden's economic accomplishments as "evidence of his greatness. The last president to do as well was LBJ. His 'war on poverty' added tens of millions to the welfare rolls, but the tens of millions that Biden has taken out of the workforce with his pandemic relief payments has mainstreamed the idea that work isn't necessary to enjoy a good life. People who previously may have considered themselves too proud to go on welfare are now happy to be subsidized by the government. This is a huge turning point for the transition to socialism that so many Democrats have been eager to see in this country."
f you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php?topic=477686.0
It’s hard to get your work done with 6 month lead times for needed materials. This problem is not just for metal rod stock but for packaging components, plastics, lab testing, etc.
“productivity fell at its steepest...since 1948” -— We have a winner. Great work from the Biden Junta.
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