Biden says he can beat Donald Trump again, speaks of a possible slight recession

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President Biden said Tuesday that the US economy may experience a “mild recession” but he still believes he will “beat again” Donald Trump in 2024.

Biden denied that the economy is in the midst of a recession — despite fitting the standard definition of two consecutive quarters of contraction — but conceded in an interview on CNN that a downturn could materialize.

“I don’t think there will be a recession. If so, it will be a very mild recession. That means we’re going to move slightly lower,” Biden told Jake Tapper in the taped 15-minute interview.

President Biden speaks with Jake Tapper during CNN’s 15-minute interview on the US economy on October 11, 2022.
CNN

Tapper added, “You just said a mild recession is possible.”

“It’s possible. It’s possible. I’m not counting on it,” Biden said.

U.S. gross domestic product shrank 0.9% in the second quarter of 2022 after contracting 1.6% in the first quarter, but Biden advisers insist the country is not in recession as data showed a historically low Unemployment and lack of drama show business problems.

Despite economic uncertainty, Biden, who turns 80 next month, told Tapper he’s still considering running for president — something he’s repeatedly told his allies he intends to do.

Biden said that after the Nov. 8 midterm elections, “I’m going to be making a decision.”

Tapper asked, “Is one of the calculations that you think you’re the only one who can beat Donald Trump?”

Biden replied, “I think I can beat Donald Trump again.”

Fears of a recession have grown as the Federal Reserve aggressively hikes interest rates to tame the worst inflation since 1981. Annual inflation hit 9.1% in June and was 8.3% in August despite lower gasoline prices – and gas prices are on the rise again as OPEC+ cuts production.

Biden’s own assessment of economic developments has evolved.

Biden said during the interview that he can beat Trump again in the upcoming 2024 race.
Biden expressed his confidence during the interview by stating that he could beat Trump again in the upcoming 2024 race.
Getty Images

In April, Biden said, “Nobody is predicting a recession now. They predict, some predict, that there could be a recession in 2023. I’m worried about that.”

But in June, the president scolded a reporter near his Delaware beach house for asking about economists “who say a recession is more likely than ever.”

“No – the majority of them don’t say that. Come on, don’t invent anything, okay? Now you sound like a Republican politician,” Biden said. “I’m joking. That was a joke. But joking aside, no, I don’t think so [inevitable].”



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