More than a decade after the recession hit, Americans continue to live in fear of falling incomes and high unemployment.
The economy remains sluggish and our economy is still not growing.
The US unemployment rate has now climbed above 11 percent, the highest rate in nearly 20 years.
In the last year, we’ve seen the US economy shrink by more than a third, to just over 2.7 percent.
We’ve seen a massive drop in the number of jobs, to fewer than 9 million, and a steep drop in income.
With this low employment and income, it’s hard to believe that people are working harder and harder to get by.
The Federal Reserve, the Federal Reserve Bank of New York and the Federal Deposit Insurance Corporation (FDIC) have all warned that the U.S. is in a structural recession.
“This is a very significant and long-lasting economic downturn,” Fed Chair Janet Yellen told the Senate Banking Committee last week.
While there is no shortage of problems that have contributed to the economic downturn, the economic decline of the last three years is particularly concerning, says Jonathan Kaplan, director of the Economic Policy Institute at the University of California, Berkeley.
Kaplan says that the Federal reserve’s efforts to keep interest rates low have caused a “deep, structural problem in the economy.”
He says that a low rate could allow banks to borrow more and invest more money in the U, allowing more people to find jobs and businesses to expand.
At the same time, the U has lost over a third of its manufacturing jobs since the recession began in 2008.
As a result, the average household income has been stagnant or declined for more than six years.
The U.K. is experiencing a similar recession, and many other countries are experiencing similar economic troubles.
This is one of the few times in modern history that we have had such a deep and lasting economic recession, says Michael Green, a senior fellow at the Brookings Institution and author of the forthcoming book, “A New American Century: A New Look at the American Economy and Its Future.”
The problem is the Federal debt is growing faster than the economy.
We are at a point where we have to pay off the debt.
We have to reduce the deficit, we have a spending deficit.
We can’t keep borrowing and spending, and if we do, we will run out of money in about four years.
That’s what’s driving the Federal deficit.
If we can’t get rid of the debt, the deficit will get bigger.
There is a lot of fear out there, Kaplan says.
“People are just waiting for us to say something that is going to help them get out of their predicament.”
We’re living in a recession, he adds.
“We’re in a time of political and economic uncertainty.
The economic outlook is still dark.”
As it stands, the economy is only growing by 1.6 percent a year.
Thats not a strong recovery.
When the economy has improved, it has been driven by the housing market, which is not healthy, says Kaplan.
He says the U is facing another “bubble” in housing prices, which could push more people into homelessness.
The mortgage crisis has also contributed to job losses.