Thinking back to college, 2% growth in GDP was labeled a recession and was a sign of danger for the country. A healthy GDP growth was 4-6% and anything above 6% needed to be slowed because it was considered to be out of control.
The government does what it always does and the media helps them. Scary things are reliable into words that don't mean much and are found to not scare people as much. Recession became stagflation.
What Is Stagflation?
Stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e. inflation). Stagflation can also be alternatively defined as a period of inflation combined with a decline in gross domestic product (GDP).
it was also defend as: he natural result of monetary pumping which weakens the pace of economic growth and at the same time raises the rate of increase of the prices of goods.
recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemploymentremains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.
"Despite soaring spending and debt, the Biden administration predicts that interest rates and inflation won’t increase more than current projections. This forecast may be rosy to the point of implausibility. Is it believable that a decade of Mr. Biden’s fiscal policies will leave the interest rate on 10-year Treasury notes at a mere 2.8%, compared with the Congressional Budget Office’s baseline forecast of 3.4%"
Ohhhhhhh but it gets worse!!!
Biden's $6T budget predicts tepid economic growth for the decade
"the White House is not projecting any long-term economic boom.
The Biden administration predicts a healthy rebound from the coronavirus doldrums of 5.2% growth in 2021, but by 2023 economic growth will reach just 2% when adjusted for inflation."
Uhhh, uhh, the new normal is 2% GDP... I guess if Dems are in charge they are going to force to be 2% because they want the double jeopardy of recession-inflation.
Regret that vote on November 3rd yet?!?!