Recession Quotes

We simply can't spend our way out of a recession.

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.

There may be a recession in stock prices, but not anything in the nature of a crash..

A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

Gerald Ford's economics is the worst thing that's happened to this country since pantyhose ruined finger-fucking.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

I worked on one speech about the financial system that caused the Dow to drop, like, 200 points.

Budget deficits are not caused by wild-eyed spenders, but by slow economic growth and periodic recessions. And any new recession would break all deficit records. In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the rates now.

I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot!

During an economic slowdown, one needs to be cautious, but I think it's equally important to not get sucked into the vortex of defensive thinking.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

It's a recession when your neighbor loses his job; it's a depression when you lose yours.

A recession is a period in which you tighten your belt. In a depression, you have no belt to tighten. In a panic you have no pants left to hold up.

New York never felt the recession. New York never felt a depression.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

A recession is when your neighbor loses his job. A depression is when you lose yours.

[It] is exactly what politicians want. They want you to feel and behave like children while they pretend to be the all-knowing benevolent father. While they rile you up about how immigrants are stealing your jobs, they distract you from enlightening facts, including the assessment of some experts that the influx of Latino immigrant workers of the past 25 years has had less effect on employment patterns than factories that moved abroad, the decline of labor unions and the recurring recessions. So while we’re told to focus on building a massive wall to keep out immigrants, the real causes of job loss and economic instability continue unabated.

When the economy shows signs of faltering, prompt countermoves are required. Even mild measures on the part of government can be effective in the early stages of an economic decline. ... If action is withheld until a recession has gained momentum, strong and costly measures may prove insufficient.

I think poverty is the biggest challenge for Los Angeles and for many of our cities that have come back from the recession.

Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do.

We're facing a crisis that we have not provoked, yet we are the main victims of the greatest crisis since the 1930s. It's not been generated by factors external to the system, but by factors that are of the very essence of the system: exacerbated individualism, deregulation, competition, and so on.

Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a world-wide depression all by myself.

NASCAR is not immune to the down economy.

I think we ought to all take a step back and remember where we were 24, 48 hours ago, a week ago, two weeks ago - the prospect that was hanging out there that America would not honor its obligations for the first time in its history, and the impact that would have on our economy and the global economy.