The bottom line here is kids (and I have an econ degree remember) is that the traditional business cycle didn't hold true to form for the 1990's, and then just like ontheheel said, the bottom fell out, which had NOTHING to do with who was in the oval office. So as of the early 2000's we are just moving along again on the more traditional business cycle, will it model itself closely to the way is has usually looked since post WWII? Only time will tell. point being, the president gets far too much credit when the economy is doing well, and far too much blame when it isn't.