Top Definition
Recession is the decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. The term recession, however, has been utilized in recent decades by politicians to distort the economic outlook and reframe in more positive terms rather than have to address the looming economic depression.
Ralph: Dude, the feds just lowered interest rates and backed a takeover of a large investment bank after acknowledging that we might be in a recession.

Ted: This recession's been going on since Bush took over. How long until we call it an economic depression?
by Kate Sjostrand March 21, 2008
Fat rich people telling poor hungry people they need to lose weight.
by vreno January 20, 2010
Two successive quarterly declines in GDP
Ronald Reagan: Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his.
by LexAveNYC May 02, 2009
Adjective. Used to describe anything stingy or lacking.
Look at this recession biscuit. It's only got three chocolate chips.
by Amper&sand February 07, 2009
1) the term that people use for a depression when they are trying to avoid the fact that it actually is a depression
2) when the economy sucks relly bad and you can't find a job because old people are working
My mom had to trade in her Mercedes for a stupid Geo because of the recession.
by The Friendly Yellow Letters March 21, 2009
An excuse for people not to pay debts they owe.
ME: Yo! men its been 5months and you ain't paid the $50 bucks you owe me.

Buddy: Its the recession pal. I can't even earn me a dime.
by majornephew October 31, 2010
the cause of everything bad in ireland..caused by many a thing i.e God, global warming, and the government
aveen:jeez whats with this weather?

claire:its that damned recession

aveen:why is this stool wobbly?

claire: damn recession!
by yourone March 24, 2009
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