Commentary | Economic Growth

The view from America: Down but not downhearted

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Opinion pieces and speeches by EPI staff and associates.

[THIS PIECE ORIGINALLY APPEARED IN THE THE LONDON OBSERVER ON MARCH 16, 2008.]

The view from America: Down but not downhearted


by
Nancy Cleeland

These are gloomy times for typical Americans, who never fully recovered from the recession of 2001. Now they are losing ground on wages again while property values sink, foreclosures rise and debt hangs heavy over their heads.

Signs of a new recession are piling up. A federal report showed a loss of 63,000 jobs last month, and long-term unemployment is actually higher than seven years ago. Petrol prices are rising and, while not in the European range, are hitting millions of commuters. More families than ever lack health insurance, putting them one medical emergency away from financial disaster.

Read the rest of this piece on the London Observer Web site.

[POSTED TO VIEWPOINTS ON MARCH 16, 2008.]


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