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Confident than u.s. economic recovery is in tact. he told cnn, this is not a recession, it's not even in the same universe as a recession, it's just patently wrong to say it is. cnn's matt egan joins us now. why is he so optimistic? >> recession fears, they have been running rampant for months now, and some are arguing that the u.s. economy is already in a recession but the last few days we've actually had a lot of positive developments that suggested this gloom and doom is probably overdone. you have to start with a jobs market. it's still booming right now. look at this, we actually had a st...

Undercut the argument that the u.s. economy is already in recession. yes, gdp contracted in back-to-back quarters at the start of this year, but, no, economies in recession don't add half a million jobs in a single month. that doesn't mean there aren't obstacles ahead. remember, the economy doesn't have a jobs problem. it has an inflation problem, and there's nothing about the july jobs report that changes the fact that consumer prices are rising at the fastest pace in 40 years. in fact, this unexpected surge of hiring will only make it harder for the federal reserve to tame inflation. the fed...

Sentiment, it's 200,000 jobs stronger than even the modest forecaster was predicting. payrolls have now returned to their february 2020 levels. that means all jobs lost to covid have now been recovered. a the unemployment rate has dropped to below 3.5%. to get a lower figure, you have to go back to when richard nixon was in the white house. this understood cuts the argument that the u.s. economy is already in recession. economies that are in recession don't add half a million jobs in a single month. that doesn't mean there aren't obstacles ahead. remember, the economy doesn't have a jobs probl...

Moment this is a very good report for president biden. first of all, we had a couple of weeks ago a silly extended debate over whether or not we were in a recession. these numbers make pretty clear we are not in a recession. you don't add half a million jobs when in a recessionary environment makes it more likely that that first quarter gdp number will be raised up and won't be negative as it was in the initial report. there is nothing presidents like better than adding a lot of jobs and telling americans it is a great time to go out and get a job. the flip side, of course, as mark just referr...

You have very stamp conservatives. establishment rhino, squishy republicans. 100% of conservatives are worried. they are worried bad. 50% of the pie. 50%. add half of squishy ones and that 172% on the -- 72% on the right worry what is to come. what is to come could be ugly. >> "new york times" is wishful thinking. there is an article saying the tea party might not be over. they are caving on big, is. taxes and two is immigration. on taxes if the "new york times" were accurate wouldn't we have a deal by washington? >> greg: they are nothing but vampires.