Jon Perr has the actual record:

While the NEBR determined the George W. Bush's first recession actually began in March 2001, the history of U.S. GDP shows that the traditional definition of recession - two straight quarters of GDP decline - was never met during either the last year of the Clinton presidency or the first of Bush's tenure:

Undeterred, the Republican Party and its echo chamber have for years continued to perpetuate the myth that President Bush "inherited a recession" from Bill Clinton. As Media Matters detailed, the sound bite was introduced before George W, Bush even took the oath of office. On December 3, 2000, Dick Cheney told Tim Russert "I think so" when asked if "we're on the front edge of a recession." Within days, former House Speaker Newt Gingrich ("the Bush-Cheney administration should be planning on having inherited a recession as the farewell gift from Clinton") and House Majority Leader Dick Armey ("this new president may inherit a recession") followed suit. By August 2002, Mitch Daniels, Bush's head of the Office of Management and Budget, announced on Fox News:

"He [Bush] inherited that recession from the previous administration. Case is closed."

Predictably, the drumbeat from the Bush team was reproduced with zero distortion from the always reliable media. While Fox News' Sean Hannity made the argument during the November 2002 mid-term election "this president -- you know and I know and everybody knows -- inherited a recession," CNN made the case for him two months earlier. On September 18th, 2002, CNN's John King announced, "That's why the president, in almost every speech, tries to remind voters he inherited a recession." Five days later, his colleague Suzanne Malveaux regurgitated the same line, reporting, "[Bush] took up that very issue earlier today, saying -- reminding voters that the administration inherited the recession."

Bush was still blaming Clinton for his own economic malfeasance as late as 2004.

Indeed, as we pointed out previously, Bush loooved to blame Bill Clinton for just about everything:

In 2002, he blamed Clinton for the recession.

Also in 2002, for the mess in the Middle East.

In 2004, for manufacturing job losses.

Also in 2004, for a shortage of flu vaccine.

In 2005, for "running from terrorists" and generally causing 9/11.

In 2006, for Bush's own failures in containing North Korea.

In 2008, for the soaring deficit.

Oh well. Rove knows full well that he can go on Fox, blatantly lie, and no one will call him on it.