It's morning in America — but it's not a good morning.
The nation is suffering in a deep recession, there's no denying that: Unemployment is at its highest level in more than 25 years. The auto industry is on the skids. Foreclosure and for-sale signs are as common in some communities as street lights.
And more bleak days seem to be ahead.
Many private economists expect the monthly jobless rate will climb to 10 percent by the end of the year — it already has surpassed that level in states such as Michigan, South Carolina and Rhode Island.
The bankruptcy rate is rising, too. Nearly 1.2 million debtors filed for bankruptcy in a year period ending in April, according to federal court records collected and analyzed by The Associated Press. In March, nearly 131,000 sought bankruptcy protection — an increase of 46 percent over a year earlier.
Those are the numbers. Then there are the people. How is the recession effecting you?
Well, I've cut back on things that I don't really need. Small things I guess like I've downgraded my cell phone plan and saved like $30 per month, my cable - another $30, cut newspaper delivery - another $12, bring my own breakfast and lunch to work - another $80, so with just those alone I'm saving $152 a month which the MTA will probably take when they pass that Doomsday budget! Damned MTA! Talk about a entity that needs to be overseen by someone other than the ones that are doing the job now.
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