Joe Biden said yesterday:
My grandpop used to say … “When the guy in Minooka’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.”
[Asked how he views it, Biden responded:] Well, it’s a depression. It’s a depression for millions of Americans, through no fault of their own.