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Recession Definition: US Senate Affirms Historical Criteria

This US Senate resolution aims to affirm that a recession is traditionally defined as two consecutive quarters of negative economic growth. For citizens, this means the government will continue to use the same, established method to assess the state of the economy, which can influence decisions regarding financial policy and support programs.
Key points
The US Senate affirms that a recession is two consecutive quarters of negative gross domestic product growth.
Maintaining this definition is important for economic analysis and government decision-making.
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Status:
Expired
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Additional Information
Print number: 117_SRES_724
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2022-07-27
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

A resolution expressing the sense of the Senate that the historic definition of a recession is 2 negative quarters of gross domestic product growth.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_SRES_724.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-07-27.

What are the main provisions?

Key points include:

  • The US Senate affirms that a recession is two consecutive quarters of negative gross domestic product growth.
  • Maintaining this definition is important for economic analysis and government decision-making.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cruz, Ted [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy