This chapter provides a diagnosis of the economic ill-fare of Spanish children since 2008 with the objective of assessing the impact that the Great Recession has had on them. The results show children’s great economic vulnerability to changes in the business cycle. The Great Recession has had important consequences on the economic well-being of many children—not only because of the sky-high unemployment rates of the adults that look after them, but also because of the lack of a generous and comprehensive social protection system that can be relied upon when the economy slows down. Notwithstanding this, it is important to remember that child poverty was a major social problem in Spain before this economic downturn.