In December 2001, Clinton was asked what he thinks about a recession.
He replied, “Well, a recession is two quarters in a row of negative growth.”
Sen. Ted Cruz (R-Texas) reacted to the video, saying, “Bill Clinton was right.”
Bill Clinton was right. https://t.co/bZtObFlJji
— Ted Cruz (@tedcruz) July 31, 2022
Check out some other reactions.
"Well, a recession is two quarters in a row of negative growth." –– former President Bill Clinton.
Quick! Someone alert the "fact checkers." pic.twitter.com/wcIrmWdmpL
— Young Americans for Liberty (@YALiberty) July 29, 2022
According to Bill Clinton, We Are In a Recession
— Kimberly Klacik (@kimKBaltimore) July 30, 2022
He may not have known what "the meaning of the word 'is' is," but even Bill Clinton knows what a recession is https://t.co/ApmYBQYqPW
— Tommy Pigott (@TommyPigott) July 28, 2022
We don’t agree with Bill Clinton on much, but we do agree with him that a recession is two periods of negative GDP growth pic.twitter.com/N80VMfogXY
— Daily Caller (@DailyCaller) July 28, 2022
Last week, Biden used job growth and manufacturing as evidence that the U.S. is not in a recession.
“That doesn’t sound like recession to me,” Biden said.
He also touted the Inflation Reduction Act.
“It’s a big deal,” Biden claimed.
He added, “With this legislation, we’re facing up to some of our biggest problems and we’re taking a giant step forward as a nation.”
The president went on to thank “[Majority] Leader [Chuck] Schumer and Joe Manchin for their extraordinary effort it took to reach this result.”
He claimed in remarks at the White House that the bill “will reduce the federal deficit by over $300 billion.”
Additionally, it “will add another $370 billion in clean energy tax credits in reconciliation, including incentives to accelerate domestic production of solar panels, wind turbines, batteries, and critical materials processing.”
Biden acknowledged the bill “is far from perfect. It’s a compromise. But it’s often how progress is made.”
He urged Congress to “pass it for America.”
Manchin explained to radio host in West Virginia Hoppy Kercheval, “President Biden was not involved.”
He added, “I was not going to bring the president in. I didn’t think it was fair to bring him in. And this thing could very well could not have happened at all. It could have absolutely gone sideways.”
Manchin also claimed he previously did not walk away from the bill.
“I’m not walking away from anything. I’m just being very cautious,” he said.
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