News that the U.S. has unofficially entered recession spells political danger for Joe Biden, with no Democrat president having been re-elected after a recession began in their term of office since Franklin D. Roosevelt.
Figures from the Commerce Department released on Thursday showed U.S. Gross Domestic Product (GDP) fell by an annualized rate of 0.9 percent in the second quarter of 2022.
Roosevelt secured re-election in 1940, despite having overseen the recession of 1937–1938 that saw U.S. GDP decline by 18.2 percent, America’s second-worst 20th century recession after the Great Depression.
However, no Democrat president has replicated this feat since, with a number losing power after a recession began under their leadership.
Read more at Newsweek.com
What Are Your Thoughts?
