An all-purpose excuse that people use during a [recession] to justify doing things that are below their usual standard. Often these things in reality have little or nothing to do with the economic circumstances.
> Harry: "You took your girlfriend to Applebee's on [Valentine's Day]? Pretty weak."
> Larry: "Whatever man, I didn't have a choice. Bad economy."
> [Henry Paulson]: "Hey guys, bad economy. [Just do it]."
> Fred: "Dude, tell me you didn't go home with that [broke down] 300-pound whale I saw you with at O'Shea's last night."
> Brendan: "Dude, it's a bad economy. I'll take what I can get."