In an interview with radio gasbagette Paul Gallow, Cheney repeated a favorite wingnut lie:
THE VICE PRESIDENT: Well, there are. The way I like to explain it, Paul, is to talk about the '03 tax cut. You may remember the President and I inherited a recession, the front end of a recession, and then after 9/11, we lost a million jobs.
As the National Bureau of Economic Research (NBER) determined, business activity PEAKED in March 2001. Cheney & Fredo inherited a cresting wave which they couldn't manage to maintain despite the 2001 tax cuts.
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