Anecdote Ronald Reagan – The fortieth President of the United Sates (1911 – 2004)

The latter portion of Jimmy Carter’s presidency was plagued by recession. The American economy did not pick up again until Ronald Reagan had assumed the helm (in the early 1980s).
“Depression is when you are out of work,” Reagan declared after taking office. “Recession is when your neighbor is out of work…”
And a recovery? “A recovery is when Jimmy Carter is out of work!

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