That Darned Recession! | Year In Review | Chicago Reader

That Darned Recession! 

Economy '91: The View From the Rose Garden

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11/16/90 President George Bush: "Most seem to feel that if we have a recession, it will not be deep and that we'll come out of it relatively soon, six months at most, and I'd like to think that is true." 1

7/29/91 Michael Boskin, Bush's top economic adviser: "The recession appears to have ended in the spring and a recovery has begun." 2

8/3/91 "White House officials say Bush won't sign the $5.8 billion jobless legislation because 'the recession is ending and the recovery is underway.'" 3

8/29/91 Bush: "I feel all right about things. There are some statistics up and some down, but basically I think [the economy is] doing all right." 1

10/5/91 Bush: "Today's unemployment figures show that the economy is moving in the right direction." 1

10/30/91 Treasury Secretary Robert Mossbacher: "The recession is over." 2

11/1/91 Vice-president Dan Quayle: "The country is out of the recession." Bush: The economy has "turned the corner" and is "headed for recovery." 1

11/2/91 Bush: "The lack of consumer confidence worries me, because if you hear all this bad news all the time, people are going to get gloomy about it. It's a good time to buy a house. It's a good time to buy a car. . . . But as long as people are worrying about their jobs, they hold back." 4

11/16/91 Treasury Secretary Nicholas Brady: "It always looks dark at the bottom of a recovery." 5

11/19/91 Bush: "I am just going to stay the course." 4 "I'd like to see the cash registers ring at Christmastime. It would be very good for the economy." 1

11/29/91 "The President insists the economy is in recovery. Disbelieving businesses and consumers say the recession never ended." 1

12/3/91 Bush: "We're not going to do anything dumb." 3

12/4/91 Boskin: "A modest recovery began in the spring, . . . but the recovery has turned quite a bit more sluggish." 1

12/5/91 Bush: "This economy isn't going down forever." 6

Sources: 1. New York Times; 2. Wall Street Journal; 3. Chicago Tribune; 4. Chicago Sun-Times; 5. New Republic; 6. broadcast press conference.

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