Late-night host Stephen Colbert had his audience in stitches over the complicit corporate media that have backed President Joe Biden’s claims that the United States is not in a recession.
“So, we’re in a recession. Or are we?” left-leaning Colbert asked his viewers on Thursday’s episode of the “Late Show with Stephen Colbert” after the White House has tried to bury experts’ claims that we are in a recession.
“According to the White House, two consecutive quarters of economic contraction does not, in and of itself, constitute a recession,” Colbert said. “Thankfully, we have cable news to cut through all the spin and give us some straight answers.”
Colbert’s comedic breakdown of the reporting on the economy starts around 5:23 in the video below where he promises we can all “freak out” about the economy now:
(Video Credit: The Late Show with Stephen Colbert)
The 58-year-old asked about the United States experiencing “back-to-back quarters of negative growth. What does that mean historically?”
Colbert played a CNN soundbite in response to the question.
“Every single time since 1948 that you’ve had back-to-back quarters of negative growth, you’ve had a recession, every time,” CNN reporter Matt Egan said authoritatively.
“So, that’s the case this time,” Colbert tried to clarify.
Pressing play, you could hear Egan continue, “That may not necessarily be the case this time.”
‘Doesn’t sound like a recession to me’: ‘Fact-checkers’ back Biden slight of hand economy https://t.co/9WQR1go4p6
— American Wire News (@americanwire_) July 29, 2022
The liberal comedian was trying to get to the bottom of the issue that apparently has fact-checkers pouncing on supposed misinformation about the meaning of the word “recession.”
“Okay. Still, recession-wise, we should be able to use history as a guide, right MSNBC?” Colbert asked before playing a clip of a female speaking on the left-leaning network.
“We really don’t know how far we can or cannot use history as a guide,” British editor-at-large of the Financial Times, Gillian Tett said.
“Sure,” Colbert shot back, “But at the bare minimum, on the GDP next quarter, up or down?”
“This is a number that could turn positive, it could turn more negative,” CNN’s Christine Romans said in the next clip.
Unrelenting Doocy spars with Jean-Pierre over new definition of ‘recession’: What changed? https://t.co/ltWtfj2t6J
— Conservative News (@BIZPACReview) July 28, 2022
“Okay. Last question. Do you need any qualifications at all to go on TV and talk about the economy?” Colbert mocked.
In an MSNBC soundbite, a talking head replied, “it’s really impossible to tell.”
“So, all of you are just taking stabs in the dark like you wandered blindfolded into a cave,” Colbert concluded before cutting back to a CNN reporter asking, “Where are we? How long is the tunnel, do we know?”
“Thank you cable news,” Colbert praised jokingly.
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