On Thursday morning, The Bureau of Financial Evaluation (BEA) launched their third and ultimate revision on the nation’s GDP development for the second quarter and it wasn’t good. The BEA discovered that the economic system shrank 0.6 p.c for the second straight quarter which suggests the USA economic system is in a recession. Realizing this information is unhealthy for the Biden administration and the Democrat Occasion, the night newscasts made certain to cowl it up.
ABC’s World Information Tonight and NBC Nightly Information each ignored the information totally, whereas CBS Night Information allowed a scant 22 seconds to the story whereas avoiding the phrase “recession” or tying Biden and his disastrous financial insurance policies to this in any means.
Whereas CBS not less than lined the unfavorable GDP development revision, ABC & NBC determined Queen Elizabeth’s post-mortem report exhibiting she died of previous age, or Ginni Thomas’s beliefs on the validity of the 2020 elections have been extra necessary than the nation’s economic system.
Throughout CBS’s fast report, anchor Norah O’Donnell introduced “the U.S. economic system acquired a foul report card at present exhibiting a second straight quarter of financial contraction.”
She then moved on to surging rates of interest which have skyrocketed “for the sixth week in a row shifting nearer to 7 p.c on a 30-year fastened.” Including “that’s truly the very best degree in 15 years.”
Closing out the phase, O’Donnell famous how “all three main inventory indices have been down at present.” And that “U.S. shares have misplaced greater than 20 p.c of their worth this yr.”
ABC & NBC’s bias by omission and CBS’s fast hit-and-run report on the Biden recession have been made attainable by Verizon on ABC, Nature’s Bounty on CBS, and Progressive on NBC. Their info is linked so that you can allow them to know in regards to the biased information they fund.
The CBS Night Information transcript is under:
CBS Night Information
9/29/2022
6:50:09 p.m. JapNORAH O’DONNELL: Effectively, the U.S. economic system acquired a foul report card at present exhibiting a second straight quarter of financial contraction. Mortgage charges surged for the sixth week in a row shifting nearer to 7 p.c on a 30 yr fastened that’s truly the very best degree in 15 years. All three main inventory indices have been down at present. U.S. shares have misplaced greater than 20 p.c of their worth this yr.