"Recession is when a neighbor loses his job. Depression is when you lose yours"
About this Quote
The intent is twofold. First, it’s a politician’s shortcut to empathy: a reminder that economic downturns are counted in paychecks, not percentages. Second, it’s a subtle rebuke of complacency. The joke is that we often only recognize severity once we’re personally exposed, which makes public solidarity fragile by default. Reagan doesn’t moralize outright; he lets the audience catch themselves in the act of minimizing other people’s bad luck.
Context matters because Reagan rose with a gift for turning complexity into memorable common sense, especially in an era of stagflation hangover and renewed anxiety about jobs and wages. The line carries populist electricity without committing to a specific remedy. That ambiguity is the subtextual flex: he can sound like a champion of the working person while leaving room for competing interpretations of what “help” should look like.
It’s also a small masterclass in contrast. Two short sentences, one pronoun switch, and the whole economy becomes personal. That’s rhetoric doing what economics can’t: making pain legible.
Quote Details
| Topic | Witty One-Liners |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Reagan, Ronald. (2026, January 17). Recession is when a neighbor loses his job. Depression is when you lose yours. FixQuotes. https://fixquotes.com/quotes/recession-is-when-a-neighbor-loses-his-job-27058/
Chicago Style
Reagan, Ronald. "Recession is when a neighbor loses his job. Depression is when you lose yours." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/recession-is-when-a-neighbor-loses-his-job-27058/.
MLA Style (9th ed.)
"Recession is when a neighbor loses his job. Depression is when you lose yours." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/recession-is-when-a-neighbor-loses-his-job-27058/. Accessed 19 Feb. 2026.




