David Asman slams Biden pushing more taxes, spending as US enters recession: 'Zero' chance of a second term
Biden urges Congress to pass the Inflation Reduction Act after Manchin, Schumer strike deal
{{#rendered}} {{/rendered}}FOX Business anchor David Asman argued on "America Reports" that President Biden's push for more spending and tax hikes following Thursday's GDP report indicating a U.S. recession eliminates any chance the president had of winning a second term.
DAVID ASMAN: It's actually very interesting because there were two times that this has happened where we had the Fed raise interest rates and exactly we were going into a recession, what was in the 1980s with Ronald Reagan. And what got us out of that recession were his lowering of tax rates and lowering regulations. That's what saved us from the recession that was meant to curb inflation. We had another example when Obama was president, we're coming out of a bad recession. We increased taxes and increased regulations. And we had the slowest economic recovery in the history of the American economy. So he's saying that exactly what got us into this mess is what's going to get us out of this mess. And it just makes no sense. But the bottom line is, that this is Biden's recession. And I think this makes any chance of him having a second term. Zero to nil.
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