By the time you read this, the GDP report may be out and we may be in a recession. A recession is defined as two-quarters of negative GDP growth. That's why the White House wants to redefine a recession as not that. They also want to redefine "inflation reduction" as increasing inflation with massive government spending and tax hikes, but we'll get to the "Inflation Reduction Act" later. Doocy has the floor, and it's fun watching him make Karine Jean-Pierre answer questions.

For those keeping score at home, KJP had John Kirby with her because this White House doesn't think she can do the job without a man helping.

DOOCY: In 2008, Brian Deese, who you may know as the current White House economic advisor, defined a recession as "two consecutive quarters of negative growth." Yesterday, he said it's not that.

KJP: Yeah, we don't want it to be that anymore.

DOOCY: What's the difference other than who's president?

KJP: Literally nothing, but we know everyone else in the room except for your network will define recession how we want them to.

After the GDP report today--the one that might show America in a recession if it happened prior to 7/28/22--Joe Biden is scheduled to give a speech, one in which he will claim we're not in a recession because he thinks he saved the economy. Also, if we were in a recession, which we're not, but if we were, it would be the Putin Recession. He'll also take credit for gas prices going down slightly while still blaming Putin for gas prices going up since his inauguration day.

And, he's looking forward to signing the "Inflation Reduction Act." A piece of legislation that's a massive government spending increase and tax hike, the two things that create more inflation. But by calling it the "Inflation Reduction Act," they can claim Republicans increased inflation by voting against it, even though the legislation does nothing to reduce inflation. Democrats think the American people are stupid and will be fooled by the name.

Do you have all that? It's going to be a busy day.

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