The Democrat governor of Kansas broke with White House officials this week, acknowledging the likelihood of a recession hitting the United States soon.“We have managed the budget so well that we now have done all of these things: We have paid down billions of dollars in debt, and we have still left in our ending balance a $1.5 billion surplus. And that doesn’t count the now up to $950 [million] rainy day fund,” Gov. Laura Kelly said in a speech on Monday in reference to the state’s budget.
Later, she said, “And you hear people talking about, you know, a recession coming. Bring it on. Because we now have enough money to be able to ride it out still funding everything that we’re supposed to be funding.”
Her comments come several weeks after top White House officials, including President Joe Biden himself, rebuffed claims that a recession is looming.
“Come on, don’t make things up,” Biden told a reporter who asked about whether a recession was likely to occur. “Now you sound like a Republican politician, I’m joking, that was a joke, that was a joke,” he continued. “But all kidding aside, no I don’t think it is. I was talking to Larry Sum …
BofA Says Recession Fears Prompt Investors to Dump Stocks Again
Bond funds see biggest inflows in 14 weeks: BofA’s Hartnett
Strategist sees range-bound S&P 500 before further declines