This essay provides an in-depth analysis of the Great Recession in the United States, examining its origins, progression, and consequences. The essay identifies the breakdown of the financial system, particularly the subprime mortgage crisis and the housing bubble, as key drivers of the economic downturn. It explores the impact on unemployment, consumption, and productivity, highlighting the role of household demand, housing market dynamics, and consumer debt. The essay also discusses factors like high interest rates, inflation, and reduced consumer confidence that contributed to the recession. Furthermore, it details the timeline of the recession from 2007 to 2009, analyzing the decline in various economic indicators and the government's response. The essay concludes by emphasizing the global repercussions of the crisis and the long-term effects on the US economy.