Even though the current recession may be hitting you hard, it is important to know that this is not the first time that the United States economy has gone through this. Believe it or not, there have been many recessions in past years and it is safe to say there will be more in the future. As a citizen, it is good to know the US economic recession history so you understand what has happened in the past and how this affects you now.

The first recession in the United States took place between 1797 and 1800. This was known as the panic of 1797, and was caused mainly by the Bank of England attempting to bring business to the United States.

Next in line was the recession that lasted from 1807 to 1814. This was a very serious problem, and for this reason was given the name the Depression of 1807.

After recessions in 1819 and 1837, the country faced another similar situation in 1857. During all three of these recessions failing banks were common.

The recession of 1926 was followed by the Great Depression in the early 1930s. This is undoubtedly as bad as times as the country has ever faced.

From 1980 to 1980 a recession due to the Iranian Revolution plagued the United States economy. This led to a spike in the cost of oil all over the world.

When the dot com bubble busted in 2001, this started a recession which fortunately only lasted eight months.

As you can see, the United States has a long history of recessions. The one that is currently plaguing the country is more serious than many of those in the past due to its extended length. Now that you know more about the US economic recession history you should have a better understanding of this topic and what it means to you.