Ronald Reagan: “I told him that a recession was when your neighbor lost his job; a…”

On the recordAugust 22, 1982

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

Said by

Republican · California

Source

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

More from Ronald Reagan

Jun 5, 2004

I am not going to exploit for political purposes my opponent's youth and inexperience.

Dec 12, 1988

We understood the key to prosperity was low-inflationary growth, and we achieved it.

Dec 6, 1988

We must remain strong and free of illusion.

Dec 4, 1988

Each of us can give young people the good example of reading ourselves.

Other voices in this conversation

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