You are correct. According to the recent WSJ editorial, Still Morning in America, over the past 277 months the US economy has been in expansion for 262 months and in recession for only 15 months. During that time, the US economy has created 43 million new jobs and increased our wealth by $30 trillion. In fact, we've created more wealth in the past 25 years than in the previous 200 years.
This kind of news should help all but the most ardent doomer's to sleep better at night.