Friday, February 15, 2008

ANOTHER SIMPLE FACT THAT WINGNUTS DON'T GET

I still find the wingnuts claiming that the recession began under Clinton and I think I'll post this so I have it handy for a rebuttal.

Business Cycle Dating Committee, National Bureau of Economic Research

Robert Hall, Chair
Martin Feldstein, President, NBER
Ben Bernanke
Jeffrey Frankel
Robert Gordon
Victor Zarnowitz

November 26, 2001 This report is also available as a PDF file.

The NBER's Business Cycle Dating Committee has determined that a peak in business activity occurred in the U.S. economy in March 2001. A peak marks the end of an expansion and the beginning of a recession. 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. The expansion lasted exactly 10 years, the longest in the NBER's chronology

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