President Biden admits the possibility of a 'slight recession' after stating he believes there won't be one
President Biden told CNN anchor Jake Tapper that a "slight recession" is possible despite his confidence that it won't occur.
President Biden acknowledged the possibility of what he described as a "slight recession" could occur in the near future.
It was determined back in July that the U.S. suffered back-to-back consecutive quarters of negative GDP growth, which has long been the indicator of a recession. However, both the Biden administration and many members of the media have dismissed that long-standing definition.
During an interview on Tuesday, CNN's Jake Tapper asked the president, "Should the American people prepare for a recession?"
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"No," Biden initially responded. "Look, they've been saying this now-every six months they say this, every six months, they look down at the next six months and see what's gonna happen. It hadn't happened yet."
He then said, "I don't think there will be a recession. If it is, it will be a slight recession—that is we'll move down slightly."
US President Joe Biden speaks at the White House Conference On Hunger, Nutrition And Health in Washington, DC, US, on Wednesday, Sept. 28, 2022. (Yuri Gripas/Sipa/Bloomberg via Getty Images)
After boasting what has been "accomplished" by his administration to improve the economy, Biden took another swipe at those predicting a recession, telling Tapper "it's just not there."
"But you just said that a slight recession is possible," Tapper said.
"It is possible—look, it's possible." Biden said. "I don't anticipate it. What I do think—look, we talk about the impact on families. They have reason to be concerned about energy prices, they have reason to be concerned about a whole range of issues. But look at what we've done. We've been able to- with the Inflation Reduction Act."
"You think Democrats have something to run on," Tapper asked.
"Oh, I think we do. I know we do," Biden responded.
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Biden also side-stepped a question about potential criminal charges his son Hunter Biden may face.
On Thursday, The Washington Post reported that anonymous federal agents allege they have "sufficient evidence" to charge Hunter Biden with tax and gun crimes.
Hunter Biden, son of U.S. President Joe Biden, arrives with wife Melissa Cohen Biden prior to President Biden awarding Presidential Medals of Freedom during a ceremony in the East Room at the White House in Washington, U.S., July 7, 2022. (Kevin Lamarque)
When asked for his "personal and political" reaction, Biden responded by first saying he was "proud" of his son.
"This is a kid who got, not a kid—he's a grown man. He got hooked on—like many families have had happen, hooked on drugs. He's overcome that. He's established a new life," Biden told CNN's Tapper on Tuesday.
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The president claimed he "didn't know anything" about his son's gun purchase at the time but acknowledged, Hunter's false claim in his gun purchase application that he was not addicted to drugs.
"So I have great confidence in my son," Biden said. "I love him, and he's on the straight and narrow, and he has been for a couple years now. And I'm just so proud of him."
President Biden visits IBM to announce $20B investment in Hudson Valley. (The Image Direct for Fox News Digital)
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This marks President Biden's third televised interview with a journalist. His first sit-down was with NBC's Lester Holt in February. He waited seven months to do his second one in September with CBS' Scott Pelley.
In between, he granted an interview with the Associated Press as well as liberal late-night host Jimmy Kimmel.