Quote:
Originally posted by Mmmm, Burger (C.J.)
Sure there has, even on an annual basis.
May I refer you to p. 269 (warning: large pdf of Economic Report of President not suitable for dialup). Real GDP declined for two consecutive years from 1973-75, from 1979 to 1980, 1981 to 1982, 1990 to 1991, and in Q1 and Q2 of 2001. See also p. 274 (for percentage changes).
We can quibble over the definition of recession, but we've definitely had them--in the form of negative real growth--several times in the past 30 years.
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Thanks, Burger -- I diagreed, but was too lazy to look it up. Too many young people these days have a very limited knowledge of even recent American history. I venture to say that this "Bush IIrecession" is the only one young club can remember. [He's clearly too young to remember the"Reagan recession" or even the "Bush I recession"].
S_A_M
