Scalise: Biden policies driving US economy toward recession
Democrats are "going to pay a heavy price in November" for their handling of the economy, predicts House Minority Whip Steve Scalise (R-La.).
The Facts Inside Our Reporter’s Notebook
The Biden administration's economic policies are driving the U.S. economy closer to a recession, warns House Minority Whip Steve Scalise.
Some business leaders, including Jay Farner, CEO of Rocket Mortgage parent Rocket Companies, are warning of a recession in the coming quarters, according to Yahoo News.
Inflation is slightly down to 8.3% from a record high of 8.5% in March, according to figures released Wednesday.
Scalise shared his concerns of a recession following a GOP conference briefing with reporters Wednesday.
"I'm very concerned about the weakness of the economy right now and the potential for a recession," said the Louisiana Republican, "because Joe Biden has continued to promote policies that, number one, spend money at rapid paces, but also that undermine the ability to make things in America by having an anti-American energy policy.
"It not only hurts families when they're filling up the gas tank or when they're paying their electric bill, but it hurts our ability to manufacture in America. You know, on every crisis we've seen Joe Biden has been on the wrong side and won't do the things that are necessary to protect jobs in America, to protect the economy in America and protect hardworking families in America. And they're going to pay a heavy price in November."
Scalise was asked how soon he thinks a recession could hit.
"I hope there's not a recession, but I also hope that Joe Biden reverses course and starts promoting an America-first policy on energy, on the economy, on the supply chain crisis," he said. "He hasn't done it yet. But I'm going to continue pushing and hoping that he sees the light."