During the period in question, from Election Day, 2000, through February, 2001 when the recession first started to take hold, there were no new laws enacted. President Bush’s tax cuts would not take effect for several more months. The disaster of 9/11 was still almost half a year away. Yet the economy shattered. While conservatives might have seen the normal ebb and flow of an economy that operates independently of presidential policy, the evidence seems to indicate, at least in this case, the new president’s words and proposed policies were enough to scare the market, frighten investors, and terrify employers. Even the CEO of one of America’s largest and most successful companies warned against self fulfilling prophecies. It doesn’t matter as much when the recession started; it matters why it started. It started because President Bush started it.
why did the Bush recession start?
The whole thread (18 posts)
- why did the Bush recession start?
- Since the clinton recession started in 2000, you tell me. (n/t)
- When you start taking 300 and 400 level classes, let us know. I'm sure we'd all be glad to help. (n/t)
- According to the NBER (the official arbiter of when U.S. recessions begin and end), the economy peaked in March of 2001 . . .
- This has GOT to be the longest reach I've seen yet.
- Correction: why did the Clinton recession start? It began in late spring of 2000 with the dot-com collapse. Don't you remember. I notice that your graph omits this period. (n/t)
- Answer, because Clinton started it a year before.
- Look at the trend. It was falling during Clinton's last year.