Senator McConnell: U.S. Economy Headed Towards Recession, But Democrats Claim Otherwise

WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the economy:

“For the past year and a half, Washington Democrats have continually found new ways to be wrong about the U.S. economy.

“Last springtime, Democrats insisted their plan to dump $1.9 trillion dollars onto the economy would not cause inflation. Here was the Democratic Leader in March of 2021: ‘I do not think the dangers of inflation, at least in the near term, are very real.’ And here was President Biden: ‘The biggest risk is not going too big… it’s if we go too small.’

“Obviously, they were wrong. Their reckless spending fueled the worst inflation in 40 years. As Ms. Alvarado, a teacher and mother of three explained to a reporter, ‘When I say, ‘OK, we cannot buy anything this week or else we’ll go into overdraft,’ [my husband] says, ‘No, what are you talking about? We’re both working. That shouldn’t happen.’

“No, Madam President, it shouldn’t have happened, but it’s exactly what Democrats’ policies have inflicted on working families in this country.

“‘Every time I fill up our van I’m flabbergasted,’ Ms. Alvarado explains, ‘I’m always worrying… I can postpone the mortgage by two weeks, but then it becomes two more weeks, and then all of a sudden they’re calling you.’

“After Democrats’ policies did cause inflation, they moved on to their next wrong prediction. President Biden admitted inflation did exist, but said it was, ‘expected to be temporary.’ That one didn’t work out, either. That was over a year ago.

“Then, seven months ago, in early December, President Biden promised inflation had peaked. Wrong again. It didn’t peak in December, it’s just kept getting worse. Inflation set a fresh new 40-year high just last month.

“Well, now, these same folks are preparing for yet another battle against reality. In advance of the GDP numbers coming out later this week, the Biden Administration has begun their latest project —a frantic effort to re-define the word ‘recession.’

“The White House published a whole explanation insisting that even if the new data suggest that our country is in recession, we actually won’t be.

“It’s almost beyond satire, Madam President. The White House isn’t focusing their energies on correcting their mistakes and making the economy better for working families who are hurting. Instead their priority is telling everybody things aren’t as bad as they look or feel. They want working Americans like Ms. Alvarado to believe Democrats’ spin instead of their own lying eyes.

“I guess the whopping 42% of Americans who say they’re struggling to stay where they are financially are supposed to read the White House’s press release and cheer up.

“The same people who said inflation wouldn’t happen… and then said it would be transitory… and then said it had peaked last year… are now insisting we aren’t headed into a recession. Draw your own conclusions.”

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