Ronald Reagan: “A recession is when your neighbor's out of work, and a depression is…”

On the recordMarch 20, 1984

A recession is when your neighbor's out of work, and a depression is when you're out of work.

Said by

Republican · California

Source

Remarks to the House Republican Caucus on the Budget Deficit

More from Ronald Reagan

Jan 17, 1989

Let us always take with us the spirit of vision, skill, and excellence.

Jan 17, 1989

This is a great day.

May 31, 2004

Are you better off than you were four years ago?

Jan 18, 1989

America's freedom does not belong to just one nation.

Other voices in this conversation

Ronald Reagan: “A recession is when your neighbor's out of work, and a depression is when you're out of work.”