Cliff Stearns: “this morning I would like to use this opportunity to congratulate the American people on a remarkable achievement. We…”

“this morning I would like to use this opportunity to congratulate the American people on a remarkable achievement. We are now 112 months into the current economic expansion, the greatest period of prosperity ever. Thanks to the innovation and hard work of everyone in this Nation, we have built a $9.4 trillion economy. Just to put this in perspective, 112 months of continued economic growth. This economic expansion has lasted for over 9 years, starting during the Bush administration in April of 1991. The roots of this era of prosperity, however, reach further back, to 1991. Michael Cox, an economist with the Dallas Federal Reserve Bank, traces this unprecedented expansion even further back, a total of 18 years. Since 1982 the U.S. economy has benefited from continued growth for all but 6 months in this 18-year period. That is right, over the last 205 months the economy has been in a slump for only 180 days. Now, many of us believe the architect of this expansion, this incredible economic force, was President Ronald Reagan.”