“Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his.”

— Ronald Reagan

Speech in Jersey City, New Jersey (1 September 1980) http://www.slate.com/id/2201249/ <br class="br">1980s <br class="br">Context: Let it show on the record that when the American people cried out for economic help, Jimmy Carter took refuge behind a dictionary. Well, if it's a definition he wants, I'll give him one. A recession is when your neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

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American politician, 40th president of the United States (i… 1911–2004

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