Conservatives on Twitter ripped into The Washington Post on Wednesday after it published a listicle providing “7 ways a recession could be good for you financially.”
Disgruntled users slammed the piece as “propaganda” and expressed frustration that the outlet is only now admitting the country is in a recession, when it has been in one since the beginning of the fiscal quarter, at least according to traditional standards.
The piece, located in The Washington Post’s “Personal Finance” section, gave readers seven reasons they could be financially optimistic these days despite the recession and 40-year-high inflation. Columnist Michelle Singletary wrote, “as bad as things are — rising interest rates, high inflation, stock market tumbling — the economy hasn’t imploded as it did during the Great Depression.”
She added, “I have to say this because, as Roosevelt pointed out, fear itself can lead to actions that worsen your finances. While many people are hurting, there may be ways to cushion the downside.”
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Singletary then provided her seven reasons. The first was, “Housing prices may finally come down to reasonable levels.” The second was “Savings rates are up.” The author noted, “At least one bright side of the Federal Reserve raising rates to fight inflation is banks are paying people more to hold their money.”
The third reason for optimism was that “I bonds inflation rate might go even higher.” Singletary explained, “The Series I Savings Bond was created as a hedge against inflation. Until the end of October, the bonds are paying 9.62 percent.” She added, “If inflation stays high, I bonds could be paying more come November.”
The fourth reason was that the “dollar is king” with the author claiming it “may go a lot further” if you travel overseas. The fifth was that “Unemployment is still relatively low.” The sixth was “Your used car is worth more,” and the seventh and final reason was that “Student loan forgiveness is coming.”
Critics on Twitter felt that the article was condescending and trying to sell them a raw deal.
Rep. Yvette Herrell, R-N.M., slammed the piece as “Embarrassing propaganda.”
Conservative political strategist Greg Price remarked in disbelief upon seeing the headline, tweeting, “Oh my goodness.”
Club For Growth government affairs VP Scott Parkinson reminded his followers how the media used to deny there was a recession this past summer. He tweeted, “First the media worked with the Biden White House to try to redefine what constitutes a #recession. Now Michelle Singletary writes in WaPo 7 ways a recession could be good for your financially.”
He added, “I’m not laughing.”
The Western Journal’s Michael Austin found it amusing, tweeting, “L O L @ the rich white libs who read the Post. While YOU might come out OK, others won’t…”
American Greatness senior fellow Ned Ryun wrote, “Corporate propagandists be like, You’ll have nothing and be happy! Ain’t life grand??!!”
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Donald Trump Jr. asked, “At this point could the press be anything other than the enemy of the people?”
Commentator John Cardillo rebuked the Post, writing, “’Shame’ is a word absent from @washingtonpost’s lexicon.”
Conservative influencer Logan Hall tweeted, “from ‘we’re not in a recession’ to ‘maybe we’re in a recession’ to ‘here’s why recessions are good’ full circle.”
