CNN’s Brooke Jackson has reported: “Three days before Christmas 1992, the National Bureau of Economic Research finally issued its official proclamation that the recession had ended 21 months earlier. What became the longest boom in U.S. history actually began nearly two years before Clinton took office.”
According to a report by MSNBC: “The longest economic expansion in U.S. history faltered so much in the summer of 2000 that business output actually contracted for one quarter, the government said Wednesday in releasing a comprehensive revision of the gross domestic product. Based on new data, the Commerce Department said that the GDP — the country’s total output of goods and services — shrank by 0.5 percent at an annual rate in the July-September quarter of 2000.”
Let not forget how much the national debt increased during his watch as well. In straight dollar amounts it's almost the same as under Reagan. Surplus my *ss.
remember, too, that to be a "recession" there must be three consecutive quarters of negative growth. This was finally realized in the months of January, February & March of 2001 - thus the truth is that the recession began in January of 2001 (or March, depending on your perspective) - but the downturn clearly began in 2000 with the crash of the stock market and the non-consecutive months of negative growth.
"Based on new data, the Commerce Department said that the GDP — the country’s total output of goods and services — shrank by 0.5 percent at an annual rate in the July-September quarter of 2000."
Hello, Mr Bush. Time for those charts and graphs that I mentioned.