Speaker Pelosi past statement on the economy comes back to haunt her

It is typically only a matter of time before a statement made in the heat of the moment by a left-wing politician comes back to haunt him or her. This is what is now happening to House Speaker Nancy Pelosi (D-CA).

While the Democrats continue to insist that America is not in an economic recession, Republicans are using the definition of a recession provided by Pelosi in 2008 to prove that the country is in fact in a recession. 

A flashback

The flashback has been provided by the Republican National Committee (RNC) by way of its RNC Research Twitter account.

On Friday, RNC Research posted to social media a video of Pelosi from July 2008. In the video, Pelosi, during a press conference, states that the “technical definition of recession” is two consecutive quarters of negative economic growth.

“And so, while they may have saved the second quarter from a technical definition of recession, the fact is, we are now into the third quarter and we need to have another stimulus package,” Pelosi said.

Background

This tweet from RNC Research comes as Democrats, led by President Joe Biden and his administration, continue to try to change the definition of an economic recession in order to convince Americans that the country is not in one.

The Biden administration adopted this approach this week after the latest report on the U.S. Gross Domestic Product (GDP). This report showed that GDP decreased by 0.9% during the second quarter of 2022. And, it did so after decreasing by 1.6% during the first quarter, meaning that America has seen two consecutive quarters of negative economic growth.

This would be enough to constitute an economic recession, but the Biden administration is arguing otherwise.

White House Press Secretary Karine Jean-Pierre claimed this week that two consecutive quarters of negative GDP growth is “not the definition” of a recession. And, the mainstream media has been helping the White House with this piece of propaganda.

The problem

There are several. One is that polls are showing that Americans, regardless of the definition of a recession, fully understand that the country is in bad shape economically.

The other problem, of course, is that according to the 2008 version of Pelosi, America is in a recession. It has to be remembered that the key difference between now and then is that back then, a Republican was president.

This is why it is only a matter of time before a Democrat politician puts a foot in his or her mouth: what they say is solely based on political expediency, and what is expedient now may not be what is expedient a few months from now let alone several years.

Latest News