Stories Of Economic Despair From America’s Worst Economic Downturn Since The Great Depression Of The 1930s
The economic pain that we are witnessing right now is far greater
than anything that we witnessed during the last recession. U.S. GDP
declined by 32.9 percent on an annualized basis last quarter, more than
100,000 businesses have permanently shut down since the COVID-19
pandemic first hit the United States, and more than 54 million Americans
have filed new claims for unemployment benefits over the last 19
weeks. Up until just recently, a $600 weekly unemployment “supplement”
and a federal moratorium that prevented many evictions had helped to
ease the suffering for millions of American families, but both of those
measures have now expired. As a result, a tremendous amount of economic
pain which had previously been deferred will now come rushing back with
a vengeance. Millions of American families are no longer going to be
able to pay their bills, and experts are warning that we could soon see
an “eviction crisis” that is absolutely unprecedented in American
history.
48-year-old Thomas Darnell of West Point, Mississippi never thought
that he would be in this position. He had been a factory worker for over 20 years until
he lost his job in May, and since then he hasn’t been able to find
another. And then on top of everything else, everyone in his house
caught COVID-19…
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First, he was furloughed for three weeks in April and then laid off in May. Then things got worse: His entire household of seven, including himself, his wife, three kids and daughter-in-law, along with his baby grandson, contracted coronavirus after they saw their immediate family over the Independence Day weekend.
“I’m tired and shaky. Even after a few weeks, I’m still trying to recover,” Darnell says, who has since been cleared of the virus but still has lingering symptoms.
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