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Home Depot’s co-founder has blasted Joe Biden’s claim that the US isn’t in a recession, says the economy is going down – and added that the president’s economic policies were to blame for rocketing inflation.
Ken Langone appeared on Fox’s ‘Your World with Neil Cavuto’ Friday, and said: ‘Here’s where we are. And by the way, I don’t care how you want to define it.
‘We can agree to one thing. The economy is receding. It’s going down. Now, you want to call it a recession or not – play with the words.
‘But the fact of the matter is, the economy is going down. Every place I’m looking, I’m seeing signs of pullback. … This is serious stuff. And we are in a recession.’
Langone said President Biden was a source of the ‘pullback,’ and blasted his focus on green energy policies, which he says have ended the energy independence the US achieved under Donald Trump, sending the White House back into the arms of oil-rich Saudi Arabia.
‘In many respects, it was caused by the policies of the [Biden] administration,’ he said. ‘Today, the president goes over with his hat in his hand to Saudi Arabia and begs them to turn the pipes up.’
Langone, who hails from New York, helped co-found Home Depot in 1974 and is a well-known donor of the Republican Party.