Ronald Reagan actually said...

I told him that a recession was when your neighbor lost his job; a depression was when you'd lost yours.

Remarks at a Fund-raising Dinner in Los Angeles, California, for United States Senate Candidate Pete Wilson

08/22/1982

More Ronald Reagan Quotes

No, I think that it was high time that we got some realism and got people thinking.

Yes, I would have told him that the only way there could be war is if they start it; we're not going to start a war.

The name's very mention reminds us that no matter how difficult the odds or how great the potential sacrifice, a dare for the sake of freedo...

This is the most fulfilling experience I've ever had in my life.