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Friday, November 8, 2024

Virginia U.S. Rep Don Beyer: "While we're talking about basic definitions of economic terms, here's another one Republicans are using..."

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Don Beyer tweeted the following:

"While we're talking about basic definitions of economic terms, here's another one Republicans are using to attack the US economy: "recession."
Guess what: we aren't in one!
We added 528,000 jobs last month and consumer spending is strong. That isn't what a recession looks like."
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Here are other recent tweets from Don Beyer:

"Does this mean everything is great, we are out of the woods, that no one has any problems because we had zero inflation in July? Of course not, that is ridiculous.
The President said we have more work to do. I said the same. We DO have more work to do. twitter.com/JECDems/status"
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"If your boss sent you a paycheck for $0.00 at the end of the month and you complained you weren't paid and they replied that your year-over-year pay was $50,000, would you find that convincing? Of course not. Because your monthly pay would be zero.
Inflation in July was zero."
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"Media coverage has made this confusing.
When we added 528,000 jobs last month, they didn't say we had added over 6 million jobs year over year. They said we added 528,000 jobs.
The CPI increased over previous months, but it did not increase in July. Inflation in July was zero."
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