SD, > JLA has said only a partisan hack would claim there was a recession if there were not two consecutive quarters of negative gdp growth
OK, got it.
It's interesting to note, however, that Bill Clinton won in 1992 on the slogan, "It's the economy, stupid!" even though the GDP expanded rapidly through all four quarters of 1992.
Doing a Google search turned up this interesting article from Jan 13, 1992:
time.com
A Quick Fix Is Not Enough
This recession is different. That is the raw, uncomfortable reality that more and more Americans seem to know and feel, from university economists in Massachusetts to shipyard machinists on the Mississippi coast. Many Americans sense that the classic cures for a garden-variety recession -- tinkering with the tax code, boosting spending programs or simply waiting for the business cycle to run its course -- may not be enough to restore lasting prosperity this time around. In fact, the U.S. economy needs more than a quick fix. Substantial, structural changes may be required. It may even be time, some economists are suggesting, for a new version of the New Deal.
Tenchusatsu |
