Bush inherited the recession from WJC
he did NOT
by all recognized standards the recession began in March, 2001.
even though it really didn't matter when it began, as it would've happened under Gore, as well, the point is they LIE and LIE and LIE about it, in another cheap, cheesy attempt to turn every single matter of discussion in their favor.
they refuse to tell the truth, even in the smallest matters
here;s what the National Bureau of Economic Research, the "the official arbiter of recessions and expansions," had to say:
According to NBER's definition, the recession did not begin until after President Clinton left office. NBER's most recent "recession dating procedure" says, "A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough." In other words, a recession begins as soon as the economy starts shrinking. And according to NBER, the economy peaked and started shrinking in March 2001, two months after the Bush presidency began. "The determination of a peak date in March is thus a determination that the expansion that began in March 1991 ended in March 2001 and a recession began in March." So according to NBER, the most recent recession did not start during the Clinton administration. (Nor did the expansion begin under Clinton; rather, it launched during President Bush the Father's term.)more on this, including my favorite part...the kicker
The U.S. economy is a mighty, complex beast. And because it frequently takes a long time for economic perceptions to catch up with economic realities, politicians can exploit the idea of recession unfairly. Remember, even though the recession during the first Bush's term ended in March 1991, the perception that he wasn't sufficiently attentive to an ailing economy helped turn Bush out of office 18 months later. It can feel like a recession when an economy's growing and feel like the economy's growing when we're in a recession. That's all the more reason why people, especially presidents, should take care when throwing around such loaded terms.
The current President Bush is probably not conversant with NBER's "recession dating procedures." But it's a sure thing his economic and political advisers are. So shame on them for feeding him dishonest lines. http://slate.msn.com/id/2076134/have you EVER heard a pugshill, when discussing the economy, the recession in particular, NOT insist that they INHERITED the recession?
and have you EVER heard them corrected on this point?
I heard Ed Gillespie say this on Sunday, and George Stehpanopoulos just sat there, letting him get away with it. He could have called him on it, but that would be asking too much, wouldn't it?
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