One of the co-founders of Home Depot blasted President Joe Biden for gaslighting the American people over the new Recession that officially began last week.
Ken Langone, who helped created the popular home supply store, went on FOX News’s “Your World with Neil Cavuto” last week to discuss the Biden administration’s recent attempt to redefine the word “recession” in their favor.
Langone told Cavuto, “Here’s where we are. And by the way, I don’t care how you want to define it. We can agree to one thing. The economy is receding. It’s going down. Now, you want to call it a recession or not – play with the words.”
“But the fact of the matter is, the economy is going down. Every place I’m looking, I’m seeing signs of pullback. … This is serious stuff. And we are in a recession,” he declared.
Langone went on to blame President Biden’s policies, especially his focus on shuttering down domestic oil production in favor of foreign oil, for the recession. He tore into Biden for refusing to turn on American pipelines and beg Saudi Arabia for help instead.
“In many respects, it was caused by the policies of the [Biden] administration,” the Home Depot founder said. “Today, the president goes over with his hat in his hand to Saudi Arabia and begs them to turn the pipes up.”
Earlier this week the White House attempted to change the definition of inflation days before the quarterly report came out. The historic definition is 2 consecutive quarters of negative GDP growth is a recession, which we technically hit last week. Despite this, both Biden and his economic advisers Janet Yellen and Jerome Powell have insisted this is not the case, pointing to a strong job market as proof the economy is fine.
Under Biden’s reign, America has seen gasoline skyrocket over $6 per gallon while inflation hits a decades high of over 9%. Do you think the Home Depot co-founder is right that his policies are to blame? Will his gaslighting actually work or is it simply going to make people trust him even less?
