NEWS: USA 2008: The Great Depression

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TUESDAY, APR 1, 2008| 1 comments

USA 2008: The Great Depression

We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.

Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s.

The increase â€“ from 26.5 million in 2007 â€“ is due partly to recent efforts to increase public awareness of the programme and also a switch from paper coupons to electronic debit cards. But above all it is the pressures being exerted on ordinary Americans by an economy that is suddenly beset by troubles. Housing foreclosures, ...

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www.independent.co.uk

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4/1/08 12:23 PM

bernie

| illinois

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This story certainly is not making front page news in any American newspaper or news show, our Government keeps giving the impression 'all is well', however, the real story contradicts such nonsense. We should not be in a panic mode, but in a prayer mode, our country is going to @#*! in a handbasket, we are running on pride and arrogance, but it won't last much longer.

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