Joe Biden stresses recession in the US is ‘not inevitable’
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Biden stressed that the American people are “very, very depressed” after two turbulent years due to the arrival of the epidemic, the volatility of the economy and now high gasoline prices that affect the pockets. The president commented that a recession scenario “is not inevitable.”
The president stressed, during an interview with the American “Associated Press” agency, that the economy he inherited is exhausted, and that the psychological scars caused by a pandemic that changed people’s sense of identity still remain among the population.
Biden has dismissed allegations from Republicans who criticized his COVID-19 relief plan last year, which they say is responsible for driving inflation to a 40-year high. He described this argument as “strange”.
Biden stressed that people in his country are “very depressed.” “Their need for mental health in the United States has gone up exponentially because people have seen everything broken,” Trump said. He added, “Everything they were counting on has been turned upside down. But most of it is a result of what happened, what happened as a result of the coronavirus crisis.”
Pessimism has spread to the economy, with record fuel prices causing inflation and keeping Democrats on a tightrope to keep the House and Senate in next month’s midterm elections in November.
Speaking about his fears of a possible recession, Biden said, “First, this is not inevitable. Second, we are in a stronger position than any country in the world to beat this inflation.”
Reluctance to rise in inflation rates and poor evaluation in opinion polls
On inflation, Biden has been defensive. “If it’s my fault, why is inflation so high in every other major industrial country in the world? Are you asking? I’m not smart,” he said. The president was optimistic about the 3.6% unemployment rate and the relative strength of the United States in the world.
Biden’s poor rating in opinion polls comes at a time when voters are complaining about his job performance and the country’s leadership. Only 39% of American adults approve of Biden’s performance as president, according to a May poll conducted by the Associated Press and the NORC Center for Public Research.
In that country, only two in 10 adults said the US was heading in the right direction or that the economy was doing well, down from three in 10 in April. Those declines were concentrated among Democrats, with only 33% within the president’s party saying the country was heading in the right direction.
with AP
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