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Unemployed and hungry in the US

More at: http://therealnews.com/...

"More than half a million jobs were lost in the US in November, the largest loss in a single month since 1974. Though initially the announcement had a negative effect on the markets, by the end of the day Wall Street again forgot about the little guy, the Dow closed up 260 points. The more than 1.2 million jobs lost over the past 3 months, and the 11th straight month of job losses, bring the unemployment rate to 6.7 per cent, the highest in 15 years. Also this week the Department of Agriculture released figures that show food stamp beneficiaries increased by 17 percent in the past year. That’s more than 31.6 million or 1 out of every 10 people in the US receiving food stamps or taking part in the Supplemental Nutrition Assistance Program. TRNN spoke to Dedrick Muhammad of the Institute for Policy Studies. Muhammad says that 6.7 percent is not the true unemployment number because it does not include the underemployed and those who have stopped looking for work. Muhammad also says that the bailout is a "trickle down" bailout, that by giving money to the wealthiest institutions somehow this is supposed to help the middle class and working class."

Maybe it's time to start thinking about some more substantial economic changes to solve these peoples, like making banks public utilities as Leo Panitch suggests.

At the end of the day it seems like much of this relates to deficit in democracy, both in government and industry. It seems unlikely that we would be facing this financial crisis if resources were democratically and transparently managed.

More at: http://therealnews.com/...

Originally posted to SteveAnderson on Mon Dec 08, 2008 at 10:16 AM PST.

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