The jobless rate among U.S. workers is at its highest since 1983, with 3.9 million workers receiving more than a week of jobless benefits. Consumer spending has likewise fallen 4.1 percent since September 2008. Meanwhile, banks have increased foreclosures 25 percent over last year.
While workers are suffering the most severe affects of the economic crisis, the banks, lenders, and insurance companies continue to receive government bailouts. Insurance giant, AIG, received a new bailout of $150 billion in addition to the $85 billion it received just two months ago.
The deterioration of the labor, housing, auto and credit markets has led to the largest economic crisis in the United States since the early 1980s, and the largest global financial crisis since the Great Depression.
