People "from all walks of life" are lining up for donated bread in San Diego, 11% of U.S. mortgages are either late or in foreclosure, 8.3 million homeowners owe more than their house is worth, unemployment hasn't been so awful since 1948, 20% of Los Angeles County residents are on Public Assistance, 12.5 million jobless Americans are actively looking for work, and 84,000 homes in Maryland will have the power turned off next month due to lack of payment.
The lasting effects of this Great Recession will be much worse than previous American downturns. With American manufacturing and retail and construction going into permanent retreat, a lot of these lost jobs will never come back. Whole regions of the United States are finished, economically -- those far-flung sunbelt exurbs of exurbs that existed solely on cheap credit and the housing boom's outrageously inflated prices will just die, forever, and the auto-industry cities will become ghost towns.-Text of President Barack Obama's remarks Tuesday during a memorial service at Fort Hood, Texas, as transcribed by the White House: To the Fort Hood community; to Adm. Mullen; Gen. Casey; Gen. Cone;...
WASHINGTON -For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent. A year after his election Obama finds...
-A look at key issues in the health care debate: THE ISSUE: How many people have health insurance now, and how would that change if the system is overhauled? THE POLITICS: One of the driving causes...

