The United States Already in Deep Depression?

Posted on 03 April 2008                                                                         AddThis Social Bookmark Button  Print Article

As reported by David Usborne of ‘The Independent,’ in New York — Tuesday, 1 April 2008

Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world’s richest country faces economic crisis.

Disadvantaged Americans queue for aid in New York — Click PIC for larger image

US Depression 2008

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. [more]

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James Opiko - who has written 736 posts on PoliticalArticles.NET.


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