Struggling U.S. Economy

March 18, 2008 8:02:30 PM PDT
The Federal Reserve slashed interest rates in an effort to stop the country from heading into a deep recession.An Exclusive Action News Poll shows most Americans think it may be too late. According to the nationwide poll conducted by SurveyUSA, more than two thirds of those surveyed say they think we're already in a recession with just 27-percent disagreeing.

"We have boxed carrots, some potatoes, onions and squash."

All of these fresh vegetables will be given away Wednesday morning at Fresno's Mount Olive Church.

The Community Food Bank will move more than 100-thousand pounds of food from its warehouse to the church for a farmer's style market.

The food bank is trying something new to keep up with demand they've never seen before.

Dana Wilkie: "because our phone is exploding. Because there's just so many people who need our help. Our food pantries don't always have the capacity to serve people who need it. We've just made a commitment to find a way to get that food out to folks."

Our Exclusive Action News SurveyUSA Poll shows more than 80-percent of those questioned say they worry they won't be able to pay their bills.

Nearly 60-percent worry about losing their job. 46-percent worry about losing their home. 85-percent of those polled worry they won't have enough money for their retirement.

With her mutual funds tumbling now, 76-year old retiree Gloria Sahm is among those cutting back.

Gloria Sahm: "You come into the store. you get what you want, then you pray you can pay for it when you get to the counter."

Nearly 50-percent of those polled are very worried the country is headed straight for an economic depression.

Whether you agree or disagree that we're in a recession or headed for a depression, one thing everybody can agree on is that rising prices at the pump are putting the squeeze on the everybody."

Jeff Hawkins knows the pain. Among other things, he's using a bike to get around.

Jeff Hawkins: "I've had to go from a one bedroom apartment to a studio. I had to do that, just moved two months ago."

As for the future 38-percent say they think the economy will actually be weaker one year from now.

With 27-percent saying they expect more of the same. Predictions many hope are wrong.


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