CNN Headline News stated that Bush may have inherited recession...

[CADsortaGUY]

Originally posted by: dmcowen674
12-10-2003 U.S. Agency Revises GDP Numbers for 2000

By MARTIN CRUTSINGER, AP Economics Writer

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...showed that the economy, which had been surging ahead, hit a brick wall in the summer of 2000 with growth slowing sharply, partly as a result of the bursting of the stock market bubble in early 2000.

During the last recession, U.S. output fell by 0.5 percent, slightly less than the 0.6 percent previously estimated, still making the 2001 recession one of the mildest on record in terms of lost output.

"There is no major rewriting of economic history," said Steven Landefeld, head of the Commerce Department's Bureau of Economic Analysis. "There are no significant changes to trend growth and the last recession is still mild relative to past recessions."

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So now you guys are blaming the Stock Market burst on Clinton too? Now the whole bunch has become a "It's not my fault and take no responsibilty"

"making the 2001 recession one of the mildest on record"

Funny, the News and Economists are only asking if now that the Stock Market is back over 10K if the Recession is over.

Sounds to me like the system (numbers used) that determines the barometer of the Economy and the Economists need to go back to the drawing board as evident by all these "Revisions" and "New" data. All very suspect and all Bullsh1t and I get a very distinct feeling I'm not the only one tired of the crap.

As written in here months ago, let's see how long and how much the Rich boys continue to flow money back into the Stock Market because they are scared of losing the power positions they hold now. This will test how deep they are willing to dig into their own pockets.

If the recession being one of the mildest on record is news to you then you haven't been paying attention - it's been said for quite a while. Also they revise/check over the figures every 5 years anyway so this isn't some special thing. I don't see what you are trying to complain about dave - nothing here should suprise someone who has been paying attention Yes it does need to continue though...but the forecast looks good - check my other thread

CkG