Depression expected by majority of Americans

March 11, 11:02 AMWatchdog Politics ExaminerMartha R Gore

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Mantasmajorical/morguefile

Most Americans have come to believe that the United States is likely to experience a 1930's type of depression within the next few years. 

 According to the Rasmussen Report of March 10, 2009, only 7% of American citizens believe that the recession will not turn into a depression while 19% think it very likely to happen.  Only 39% think that it won't happen at all.  However 53%, a majority, believe that the U.S. is in line for something similar or worse than the big depression of the 1930's.

 The statistics may be influenced by the present recession is the longest in a postwar period and what they can see happening almost daily:

• Automakers experienced its worst sales month, February 2009, in 27 years.
• Home builders had the worst year for home sales since 1982.
• There are 12.5 million Americans out of work today with unemployment at 8.1%.
• Falling home prices.
• Falling stock prices.
• Retirement savings shrinking.
• Banks are in peril inspite of the Bush/Obama/Congress bailouts.
• Personal wealth dwindling.
• Credit market tightening.
• Little  confidence in a Congress that spends money on bailouts, stimulus packages and earmark-laden bills. 

For some who depended upon Obama to make a difference with his "hope" and "change" messages, which has now turned into propping up entities that stole and continues to steal from the American taxpayers, the depression is already here.