Limbaugh described both Bush administrations as “eight years of prosperity”

From the December 16 edition of Premiere Radio Networks' The Rush Limbaugh Show:

LIMBAUGH: You remember, ladies and gentlemen, when Clinton won the presidency in 1992, in that election, he said something like, “The era of greed and selfishness is over.” He was talking about the eight years of prosperity, actually 12 years, well second-term Reagan and first-term Bush -- only term Bush. Eight years of prosperity -- “The era of greed and selfishness is over.” Now after eight years of prosperity under Bush 43, we are again seeing the seething hate for profits. And this is -- the left never changes, it's who they are. You're never ever going to totally beat them back, that's why you can't give up any day.

In fact, both periods saw economic turmoil, including three recessions

George H.W. Bush was president during recession, which lasted from “July 1990 and March 1991.” According to a statement by the National Bureau of Economic Research (NBER), "[T]he committee determined that the U.S. economy reached a trough of activity in March 1991. Previously, the committee had determined that the economy reached a peak of activity in July 1990. The eight-month period between July 1990 and March 1991 is a recession in the NBER's chronology. The committee thus determined that the recession ended in March 1991 and that an expansion began at that time." George H.W. Bush was president during this time.

George W. Bush's presidency also saw two recessions. According to NBER, the economy saw a recession which “lasted 8 months,” from March 2001 to November 2001. Additionally, according to NBER, the economy entered into the current recession in December 2007.

Limbaugh not the first to rewrite history; Perino claimed no “terrorist attack on our country during” Bush

Perino claimed “we did not have a terrorist attack during” Bush's “term.” On the November 24 edition of Fox News' Hannity, during a conversation about the shooting at Fort Hood, former White House press secretary Dana Perino claimed, “They want to do all of their investigations. I don't know all of their thinking that goes into it, but, you know, we did not have a terrorist attack on our country during President Bush's term.”