Economic policy

‘Republican economic policy never works’: ‘The View’ hosts engage in recession shouting match

The co-hosts of “The View” erupted in a shouting match Thursday over Republican economic policies amid concerns of a deteriorating economy.

The panel discussed the agreement of Democratic Senator of West Virginia Joe Manchin and Senate Majority Leader Chuck Schumer on the Inflation Reduction Act of 2022which will partly raise corporate taxes while funding climate change provisions in a bid to curb record inflation.

Co-host Alyssa Farah Griffin said she feared that, given Thursday’s report showing GDP fell 0.9% in the second quarter, the Cut Inflation Act could make matters worse.

“Today it emerged that we have the second consecutive quarter of economic decline, which by most definitions is equivalent to a recession,” Farah Griffin said. “But [the White House is] don’t call it that.

“What do they call it?” co-host Joy Behar chimed in.

“They say it’s not quite a recession yet,” Farah Griffin explained. “Then we had this law, called the Inflation Reduction Act of 2022-“

“I think that’s a great message, a great message,” said co-host Sonny Hostin.

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“I hope he does, I’m not sure he will. He raises taxes and – ” Farah Griffin argued before Behar intervened to say that the tax hikes would be on the corporations and those earning more than $400,000. (RELATED: Biden has promised to pull the United States out of recession in 2020. Where is he now?)

“My concern though for business is that it will trickle down to job growth and the only thing –” Farah Griffin continued before Hostin took over.

“Companies aren’t pumping money back into their employees, they’re taking Alyssa’s profits and profiting from them themselves. You know it, you know it!” Hostin said to thunderous applause.

“Republican economic policy never works,” Hostin continued. “Other than to make the rich richer.”

Farah Griffin then said that despite Hostin’s argument, the economy “isn’t looking so good under Democrats” and that she fears the Cut Inflation Act will lead to an increase unemployment.

Behar then chimed in to say that “inflation comes and goes”, but insisted it is “more important” to focus on climate change.

The real American GDP declined at an annual rate of 0.9% in the second quarter of 2022, according to recently released data. The Biden administration has said that despite two straight quarters of declining GDP, it will not declare the situation a “recession.” The National Bureau of Economic Research uses several factors to determine whether the United States is in a recession, although two consecutive quarters of falling GDP have been used as a criterion Golden Rule define a recession for decades, economist Julius Shiskins declared in 1974.