Walberg: Biden’s Recession is Officially Here

Washington, D.C.—Congressman Tim Walberg (MI-07) released the following statement after the Bureau of Economic Analysis released second quarter gross domestic product (GDP) numbers that show a 0.9 percent decline, marking the second straight quarter of negative growth.

“Inflation is rising while the economy is shrinking, and too many Americans are struggling under President Biden’s reckless policies that are making daily life unaffordable. Instead of abandoning these inflation-fueling policies and offering new solutions, the Biden Administration is playing word games to deny economic reality. Trying to change the definition of a recession does nothing to help families and small businesses that are feeling the pain of rising prices and a decrease in real wages. The fact is American families have been robbed of their hard-fought wage gains, costing the average family more than $8,600 over the next year. Fiscal responsibility is needed now more than ever to rein in wasteful spending and curb this historic inflation that is hurting our economy.”