The recession will impact different people different ways. Some, who lose their employment will obviously be hit hard and have to curtail luxury expenses. Others may be hit by changes in their buying power, either through income reduction or cutbacks in paid overtime at whatever employment they do have or by higher cost of living [although consumer prices tend not to go up as much in a recession]. Some will only be affected by losses in market-driven savings, mutual funds, etc... and some will really see very little direct impact at all.
I have two Government-paid pensions and secure job within the Government, unless the Government of Canada goes bankrupt I'm likely to be relatively unaffected by a recession. If my Government goes broke, a trip to Disney will be the least of anyone's worries.
The economic problems in the US are going to have a negative effect on world-wide economies for at least the next few years, it won't be easy to turn around the unregulated behemoth it has become, but it will eventually recover. In the interim, it behooves those of us who aren't as badly hit to increase our charitable donations to assist the increasing numbers of less fortunate.