This study by Rutgers is an eye-opener. I don’t think we are out of the woods on this recession by any means other than a technical definition.
- nearly one-quarter (23%) of all survey respondents report being laid off from either a full-time or part-time job during and after the recession (over the past four years)
- Only 32% believe that economic conditions will be better next year.
- 60% think that the economy has changed permanently (the new normal)
- Just 19% agree that “overall, job, career, and employment opportunities will be better for the next generation than for my generation.”
- 58% believe that the ability of young people to go to college will never return
- a majority of all Americans (56%) report having less money in savings than they did when the recession began.
- Almost 4 in 10 say they loaned money to family or friends during this period and about 3 in 10 report borrowing money.
- (61%) believe they will not fully recover from the recession.
All the more reason to fight the Obama and the White House tooth and nail as they try to cut Social Security and Medicare. It’s the wrong thing to do when we should be trying to help everyone get out of the hole that the Conservatives have dug for us.