Back-to-back contractions in GDP have historically been defined as a recession, but the Biden administration and their apologists insist we aren't in a recession. Peter Schiff appeared on the Megyn Kelly show to talk about the White House recession spin. He said this recession is just getting started.

The mantra from the White House is that two consecutive quarters of negative GDP isn't the "technical" definition of a recession and that the economy is just entering into "another phase of recovery." Peter said, "I guess they believe if you repeat a lie often enough, people will believe it."

But imagine if Donald Trump had tried to do the same thing.

Do you think the media would go along with that?"

Peter emphasized that two negative quarters are "just a minimum for a recession."

We're going to get a third negative quarter. We're going to get a fourth negative quarter. We're going to be seeing contracting GDP for years. This recession is just getting started."