Perry – I think your point regarding the government sugarcoating is spot on. Piling on is not in their best interests.
However, I think you have the facts wrong wrt Bush Sr and the early 90’s recession. In that case he was claiming that we were already coming out of recession.
According to NBER that recession lasted through the quarter ending in March 1991, although they did not make this official until December 22, 1992 because there were several weak quarters of low growth following this recession (The jobless recovery that evolved into goldilocks and eventually became the late 90’s boom).
