Great Recession Quotes

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

  Ronald Reagan

  Funny, Depression, Witty

  "Ronald Reagan: A Man True to His Word".

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• You cannot spend your way out of recession or borrow your way out of debt.

  Daniel Hannan

  Economic Recession, Debt, Politics

  "Outcry Against U.S. Budget Heard Around Globe". "Hannity" with Sean Hannity, www.foxnews.com. March 27, 2009.

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• As sure as the spring will follow the winter, prosperity and economic growth will follow recession.

  Robert Foster Bennett

  Spring, Winter, Growth

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• While some people might find it distasteful to pay taxes, I don't. I find it patriotic.

  Mark Cuban

  Patriotic, People, Might

  "Get rich, pay taxes: it's a patriotic duty" by Mark Cuban, www.theguardian.com. September 22, 2011.

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• Many Americans are feeling, you know, shut out, shut down, the great recession hasn't ended for too many Americans, wages are flat, families are struggling, not enough new jobs, or new businesses are being created, and it's important that we all try to figure out what we're going to do, and that's what I've done my entire life, fighting for a higher minimum wage, or family leave, now paid family leave which I believe in, equal pay for equal work.

  Hillary Clinton

  Jobs, Believe, Struggle

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• I believe strongly that we need a finance industry that is good for the economy, and I don't think anybody would argue that during the eight years leading up to the Great Recession, a lot of bets were made [and] risks taken that weren't good for the economy.

  Hillary Clinton

  Taken, Believe, Thinking

  Source: www.businessinsider.com

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• There was no blueprint or how-to manual for fixing a global financial meltdown, an auto crisis, two wars and a great recession, all at the same time.

  Rahm Emanuel

  War, Two, Fixing

  "Rahm Emanuel Speech At 2012 Democratic Convention: ‘Which Crisis First?’" by Sabrina Siddiqui, www.huffingtonpost.com. September 4, 2012.

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• Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.

  Mark Zandi

  Creating, Credit, Today

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• The Great Recession is not imaginary, and the effects loom large. There was an article in the NYT about the galloping death rate among white men in middle age. Higher than among any other demographic, etc. Mostly death by drugs, alcohol, or suicide. Many of them rural. My feeling is that it's many people who haven't been able to get back into the work force. Reg Morse is an example of the problem.

  Rick Moody

  Suicide, Men, White

  Source: therumpus.net

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• Over the last decade, - economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.

  Gavyn Davies

  Years, Two, Events

  "The great economics rift reopens" by Gavyn Davies, www.theguardian.com. February 19, 2010.

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• Even though the play [ The Best Man] was written a long time ago, the characters seem modern and their struggles to make ends meet and to "have a little fun along the way" have a very contemporary feel. The similarity between the The Great Depression and The Great Recession - as well as the gulf between the super-rich and the ordinary Joe - still rings a bell. One of the things this production accentuates is how beautifully Grandpa and his family accept all kinds of people - rich or poor, black or white - and the best thing that can happen to you is to be part of a loving family.

  Chris Hart

  Fun, Struggle, Character

  Source: blog.roundabouttheatre.org

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• Housing was ground zero for the Great Recession. Between early 2006 and Obama's inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half.

  Mark Zandi

  Country, Zero, Vegas

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• I think it's been unfortunate, but it's happened, that since the Great Recession, the gains have all gone to the top. And we need to reverse that.

  Hillary Clinton

  Thinking, Needs, Gone

  "Transcript of the Second Debate". www.nytimes.com. October 10, 2016.

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• The plain fact is that recent college grads aren’t in massive pain. They suffered during the Great Recession like everyone else, but all told, they probably suffered a little less than most other groups.

  Kevin Drum

  Pain, College, Groups

  "In Which I Respond to My Critics About the Bernie Revolution" by Kevin Drum, www.motherjones.com. April 30, 2016.

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• There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.

  Philip Kotler

  Government, People, Growth

  Source: bobmorris.biz

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• In these times of the "Great Recession", we shouldn't be trying to shift the benefits of wealth behind some curtain. We should be celebrating and encouraging people to make as much money as they can. Profits equal tax money. While some people might find it distasteful to pay taxes, I don't. I find it patriotic.

  Mark Cuban

  Patriotic, People, Trying

  "Get rich, pay taxes: it's a patriotic duty" by Mark Cuban, www.theguardian.com. September 22, 2011.

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• At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.

  Mark Zandi

  Technology, Thinking, Imbalance

  Source: www.washingtonpost.com

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• Most of the gains in the last years since the Great Recession have gone to the very top. So we are going to have the wealthy pay their fair share. We're going to have corporations make a contribution greater than they are now to America.

  Hillary Clinton

  America, Years, Lasts

  Transcript of the Third Presidential Debate, www.nytimes.com. October 20, 2016.

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• The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.

  Mark Zandi

  Strong, Government, Play

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• It has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.

  Mark Zandi

  Fate, Reality, Government

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• Before Barack Obama took office, it looked like that pride could have vanished forever, but today, from the staggering depths of the Great Recession, the nation has had 29 straight months of job growth. Workers across my state and across the country are getting back the dignity of a good job and a good salary.

  Ted Strickland

  Country, Jobs, Pride

  "Ted Strickland Speech Text: Read The Former Governor’s DNC Remarks". www.huffingtonpost.com. September 04, 2012.

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• The American people understand that it is grotesquely unfair - we are a society that prides itself on fairness, that prides itself on equal opportunity, and people are looking out and seeing, since the Great Recession of 2008, 99 percent of all new income going to the top 1 percent.

  Bernie Sanders

  Pride, Opportunity, People

  "Bernie Sanders on America’s ‘grotesquely unfair’ society". Interview with Jim Tankersley, www.washingtonpost.com. July 16, 2015.

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• I don't think that our problem, our jobs problem, is fundamentally a problem of trade. I think it has much more to do with the fact that we have not sufficiently educated our population. We have not got out of this great recession with adequate stimulus and adequate fiscal and monetary policies over all.

  Robert Reich

  Jobs, Thinking, Population

  Source: www.nbcnews.com

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• However, optimism is highly valued, socially and in the market; people and firms reward the providers of dangerously misleading information more than they reward truth tellers. One of the lessons of the financial crisis that led to the Great Recession is that there are periods in which competition, among experts and among organizations, creates powerful forces that favor a collective blindness to risk and uncertainty.

  Daniel Kahneman

  Powerful, Organization, Optimism

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• Believing that a crisis is a useful thing to create, the Obama administration - which understands that, for liberalism, worse is better - has deliberately aggravated the fiscal shambles that the Great Recession accelerated.

  George Will

  Believe, Administration, Aggravated

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