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A recession is predominantly for the middle class. Where I come from, the majority of people have always lived in a recession.

Recession is when a neighbor loses his job. Depression is when you lose yours.

The other thing is quality of life; if you have a place where you can go and have a picnic with your family, it doesn't matter if it's a recession or not, you can include that in your quality of life.

The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.

Though the National Bureau of Economic Research deemed the recession to have ended in June 2009, to most Americans, that conclusion seems not to square with reality.

The unemployment rate has effectively not gone down from where it was at the peak of the recession. The only reason it's gone technically from 10 percent to 8 percent is so many people are discouraged and have quit work.

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

The job numbers are positive. We've had more jobs created now than were lost during the recession. We're seeing that the creation, we're seeing those numbers not only grow but shift toward the private sector and shift toward full-time employment and these are all signs that the recovery is taking some hold but we're not out of woods.

A normal recession disrupts people's lives, but a long recession destroys them. You lose output, prosperity, family stability, self-esteem, and many other qualities on what looks to be a semi-permanent basis.

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