Great Recession

[ greyt ri-sesh-uhn ]

noun

1. the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.

Example Sentences

Barack Obama’s purposefully slow-and-steady stimulus did not hurt his reelection bid in 2012, even as employment rates and general living standards continued to lag in the wake of the Great Recession.

From Slate

For my SCOTUSblog author page, I had a friend take my picture in front of the brick facade at the old National Capital YMCA, because I was a 22-year-old recent college graduate during the Great Recession, and needed the several hundred dollars it would have cost to get a professional headshot for rent.

From Slate

The nation’s most painful sacrifices were absorbed by his Democratic predecessors—in Obama’s case, that was the agonizingly slow recovery from the Great Recession that began under George W. Bush, and in Biden’s it was the pandemic-era round of inflation that struck every single country on the planet.

From Slate

"These readings are generally in line with those since the Great Recession," read the Gallup analysis.

From Salon

Out of the Great Recession came two very different expressions of anti-establishment politics.

From Salon