We are in a recession. However, President Biden and Democrats would rather redefine a recession than restore a healthy economy.
According to an advanced estimate released by the Bureau of Economic Analysis, the real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022. This follows a GDP decline of 1.6% within the first quarter, meaning that we have hit the rule-of-thumb recession definition: two consecutive quarters with negative GDP readings.
Now - at the worst possible time - Democrats are doubling down to 'Build Back Broke.' Congressional Democrats are planning to raise taxes on America’s job creators, throw money at their Green New Deal agenda, and worsen America’s inflation crisis with their Far-Left Socialist reconciliation package.
Hardworking American families are feeling the pain at the grocery store, gas pump, and in their pocketbooks. And every day, the American people understand this simple truth: We can't afford Democrats' failed policies.. But we are certainly paying for them.
Republicans will fix the economy and revive the American Dream:
- Put an end to "Build Back Better," and eliminate wasteful government spending that's driving inflation.
- Continue proven pro-growth tax policies that increase take-home pay, reduce the cost of living, boost local businesses, and encourage innovation.
- Reconnect workers to jobs and end incentives that enable individuals to earn more by staying home rather than going to work.