"The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression"
About this Quote
The next clause - “as I know everyone in this room knows” - is Washington jiu-jitsu. It flatters the press corps as informed adults while handcuffing them to consensus. If you challenge the premise, you’re no longer one of the serious people “in this room.” It’s also a subtle reminder that the administration and the media share a common data universe, which makes dissent sound like partisan theater rather than analysis.
Then comes the payload: “worst since the Great Depression.” That comparison is less an economic statistic than a moral alibi. It expands the size of the inherited problem to justify the size (and messiness) of the response. It shifts evaluation from “Are things good?” to “Given catastrophe, did we avert collapse?” In the Obama-era context - still shadowed by 2008’s financial panic and ongoing fights over stimulus, bailouts, and deficits - the line is designed to freeze accountability at the moment of transition: this was what we walked into.
Carney’s intent is defensive, but not meek. It’s a disciplined attempt to turn governing into triage, and criticism into amnesia.
Quote Details
| Topic | Money |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Carney, Jay. (2026, January 17). The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression. FixQuotes. https://fixquotes.com/quotes/the-simple-fact-of-the-matter-is-as-i-know-56460/
Chicago Style
Carney, Jay. "The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/the-simple-fact-of-the-matter-is-as-i-know-56460/.
MLA Style (9th ed.)
"The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/the-simple-fact-of-the-matter-is-as-i-know-56460/. Accessed 21 Feb. 2026.




