As an update to my last post, here are deeper thoughts from real smart people on this comparison back to 1992 that I have returned to so often. Again, I will subject you to my version from 2021:

For those unfamiliar, that was a rather average 8-month recession that lasted from July 1990 to March 1991. (Note that the end of it was more than 18 months before the 1992 presidential election.) Interestingly, the official outlet for such things (i.e. the National Bureau of Economic Research) did not announce the end of that recession until December 22, 1992. (Note that the announcement came several weeks after the 1992 presidential election.) If you were politically aware of things back then, you will remember the Clinton Campaign, aided by the reliably Leftist media including the trusted nightly news anchors of the day and their near monopoly on dictating the narrative, took full advantage of this to hammer home the mantra “THE WORST ECONOMY IN 50 YEARS” for many, many months. Also, for the historically ill-informed out there, that reference timeframe meant something for a key voting demographic that tended to get more conservative at their age. You do the math.

Admittedly, I was in my early twenties and finishing up my formal education in central Iowa at the time so I was likely somewhat isolated but…I remember the rhetoric and the headlines feeling very disconnected from reality. Especially since I had at least vague memories of the late 70’s and early 80’s as being much worse, at least in the rural areas and economies to which I was exposed. So, even to this newcomer to political awareness, it was all obvious political theater. But in those days of a much more limited media and cable news presence, the tautological treatment of this story line with so much seriousness became the national narrative.

There were a lot of dynamics in play over that 18 months leading up to the election but, make no mistake about it: the beast took down George H. W. Bush and the pervasive messaging behind “THE WORST ECONOMY IN 50 YEARS” played a major part. – The Worst Economy in Eighty Years

First up, Professor Reynolds:

Media manipulates economic gloom — and it’s all about the midterms

It’s an old playbook, one that Bill Clinton’s pollster Mark Penn wielded to defeat President George H.W. Bush in 1992.

The economy had actually recovered from a brief recession in 1991, but voters thought otherwise — because the media told them so.

“There is often a huge disconnect between belief about the economy and the true economic state of affairs,” Penn wrote in his 2007 book “Microtrends.”

“Until the statistics are actually published, people tend to assess the economy through the eyes of the national media.”

During the 1992 election, Clinton repeatedly told us we were experiencing the worst economy in 50 years.

The press echoed that message dutifully.

But as Penn recounted with glee, “The statistics that came out after the election showed that the period leading up to November had actually been a period of record growth.” …

Next, VDH:

Remembering the False Gloom and Doom of the 1992 Elections—and the Upcoming Midterms

Remembering the False Gloom and Doom of the 1992 Elections—and the Upcoming Midterms

In 1992, Bill Clinton won the presidential election partly on the basis of his campaign’s false accusation that George H. W. Bush had overseen “the worst economic performance since the Great Depression.” Or so claimed Clinton’s running mate Al Gore.

James Carville, chief campaign adviser to Clinton/Gore, amplified that message with the constant refrain: “It’s the economy, stupid.” …

Despite overwrought claims about a recession or even a new Great Depression, in truth, the recession had ended in March 1991. In fact, final GDP growth for 1992 was a robust 3.52 percent. That was hardly a recessionary indicator. Indeed, the election-year growth proved even stronger than in Clinton’s first year of governance in 1993.

While unemployment was still high at 7.5 percent, the 1992 stock market nonetheless grew by 7.6 percent. And the 1992 inflation rate had stayed moderate at 2.9 percent.

In other words, the economy had already begun to recover from the 1990–91 recession, which—to reiterate—had officially ended 20 months before the 1992 election. …

In short, the Democrats’ charge that 1992 saw the worst recession in 60 years was absurd. (The 1973–75 and 1981–82 recessions were far worse than the 1990–91 recession.)

I sure like the way those guys write. No further commentary needed at this point…enjoy the rest of your day.