New York State Assemblyman Colin Schmitt, a candidate for United States Congress, lashed out at the Biden Administration amid reports that the national economy shrank for the second consecutive quarter. Schmitt stated this meets the criteria for a recession amid soaring inflation and the steepest interest rate increases since 1994.
“According to the Bureau of Economic Analysis, the United States just met the definition of a recession—two consecutive quarters of negative economic growth,” Schmitt stated. “Other than the Biden Administration, no one will be surprised at this news, as rising inflation, interest rates, and unemployment claims along with deteriorating retirement accounts and high gas prices have created unprecedented financial anxiety for the middle class.”
Schmitt blames the Biden Administration, Nancy Pelosi, and Congressional Democrats. “At this point, it is impossible to argue that the Biden Administration’s economic policies have been anything other than a complete failure and represent a complete turnaround from the growth we experienced prior to Joe Biden assuming office,” he argued.
Schmitt continued, “Nancy Pelosi and the Democrats in Congress have been a willing accomplice and share equally in the blame for the economic pain they have inflicted on American families. The first step toward recovery begins with the mid-term elections this November and the election of a Republican Majority in Congress to provide a check on the Biden Administration’s economic policies.”
The Congressional hopeful vowed that if he is elected to office, “I will work to solve the underlying causes by restoring America’s energy independence, ending the Democrats’ wasteful spending, and returning to a pro-growth agenda that unleashes the American economy. As a nation, this must be our top priority.”