Sean Hannity discussed how Biden is refusing to admit the U.S. is in a recession despite two confirmed quarters of negative growth on "Hannity."
SEAN HANNITY: GOD FORBID PRESIDENT BIDEN WOULD EVER GIVE ANY CREDIT TO HIS PREDECESSOR
SEAN HANNITY: I wish it was not true, but after two straight quarters of negative growth, we are officially in a recession. In 2020, this was the very definition of a recession. Look at that. According to CNN and CNBC and The L.A. Times and The New York Times and Nancy Pelosi and pretty much every notable economist and pretty much everyone else on Earth but your mentally impaired, decrepit old president knows better. According to Joe, we're definitely not in a recession, in spite of we're actually having two consecutive quarters of negative growth.
And now tonight we can report on the housing market, which I've been warning you about. I told you this is going to happen, that a crash has now officially begun. New home construction will stop, sales of preexisting homes, that will stop. People are not going to want to give up their 2.8% 30-year fixed loan or 3.8% 30-year fixed loan and go with a seven or 8%, 30-year fixed loan.
US President Joe Biden speaks in the Eisenhower Executive Office Building in Washington, D.C., US, on Thursday, July 28, 2022. The drumbeat of recession grew louder after the US economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied businesses and housing. Photographer: Oliver Contreras/Bloomberg via Getty Images
They can't afford it. Now, foreclosures are way up. And, you know, the repo man from way back when he had motor vehicle repossessions are now also way up. We have nearly 50% of our fellow Americans struggling to simply pay their bills. We learned this week consumer confidence is now at a new low. Inflation remains at a 40-plus year high.
Gas prices still are double what they were under Donald Trump, even though they're tapping the strategic petroleum reserves, which we need in case of an emergency. And Joe Biden is in complete denial and just lying to all of us.
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