House Minority Leader Kevin McCarthy (R-CA) criticized Democrats on Thursday, saying the party led the United States into a recession after the latest GDP analysis showed the economy shrank for the second consecutive quarter.
McCarthy targeted the CHIPS Act that passed the Senate on Wednesday, which he said he would vote against because of its cost. His remarks shortly after the Bureau of Economic Analysis released the report also outlined some of his plans for the Republicans’ projected takeover of the House after the November midterm elections.
THIS IS JOE BIDEN’S RECESSION — WHETHER HE’LL ADMIT IT OR NOT
“Democrats would rather redefine a recession than restore a healthy economy,” McCarthy said. “The American people know that inflation was not temporary, inflation hadn’t peaked, and now we’re in a recession. But the Democrats continue to talk down to American families — no matter the increased cost of nearly everything. Worse, Democrats have no plan to fight inflation and put our country back on track.”
He placed particular blame on the $2 trillion American Rescue Plan that Democrats passed last year.
“Everything about the Biden Recession was predictable — and avoidable,” McCarthy said. “Only Democrats in Washington chose not to see it coming.”
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Though a recession is usually defined by two consecutive quarters of negative GDP growth, the Biden administration has disputed this definition in the week leading up to the report. President Joe Biden’s statement Thursday omitted the word “recession,” instead calling it a “transition.”
“Even as we face historic global challenges, we are on the right path, and we will come through this transition stronger and more secure,” the statement read.
