Henry A. Wallace Quotes

We are watching industries crumble, Wall Street firms disappear, unemployment spike, and unprecedented government intervention. And our designated opinion leaders want to know: Is Obama up this week? Is he down? And is his leadership style more like Bill Clinton's, or Abraham Lincoln's?

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

This recession is the deepest in our lifetimes, the deepest since 1929. If you take the people thrown out of work in the 1982 recession, the 1991 recession, the 2001 recession, not only is this bigger, this is bigger than all of those combined.

How much would you pay to avoid a second Depression?

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

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

I think if there's a great depression there might be some hope.

Like many places across the country, Wisconsin lost more than 100,000 jobs from 2008 to 2010. Unemployment during that time topped out at over 9%.

Job loss is coming like a tsunami.

During an economic crisis, what matters is that the government keeps its foot on the accelerator.

The economy is in tatters; your job is in trouble - if you still have a job. And you know what? I've been saying it for years.

No I don't think it was a myth at all, anymore than what the recession that the whole country was experiencing was a myth, which obviously seems like it's going to get worse and worse.

Even institutions of State, such as the judiciary, were seriously weakened, to the extent that the citizenry justifiably feared a breakdown in law and order. The business community was hit by a slump in sales and confidence, leading to reduced earnings and loss of jobs.

2008 was to the American economy what 9/11 was to national security. Yet while 9/11 prompted the U.S. government to tear up half the Constitution in the name of public safety, after 2008, authorities went in the other direction.

You know, my Grandpop Finnegan used to have an expression: he used to say, 'Joey, the guy in Olyphant's out of work, it's an economic slowdown. When your brother-in-law's out of work, it's a recession. When you're out of work, it's a depression.'

Nevada was hit hardest by the recession - highest unemployment, highest foreclosure rate, highest bankruptcy rate.

The 24% unemployment reached at the depths of the Great Depression was no picnic.

Every month that we do not have an economic recovery package 500 million Americans lose their jobs.

Certainly, 9 percent unemployment and very slow growth is not a good situation.

When I was in Philadelphia during the Depression in 1930 or '31, I got a very sad job as a night watchman in a garage. The cars in the garage had been abandoned by their owners, since they had lost their jobs and couldn't keep up the payments.

The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.

We are having the single worst recovery the U.S. has had since the Great Depression. I don't care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it's the worst recovery since the Great Depression.

People don't walk away from their homes unless they can't make the payments. That's an indication that we are in a recession.