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However, Main Street America is mired in depression. High unemployment and underemployment are unaddressed. For millions, depravation is extreme. Double digit inflation is rising. One in six Americans face hunger, yet Obama and lawmakers demand austerity when stimulus is needed.
Progressive Radio News Hour commentator economist Jack Rasmus sees bad current conditions worsening, saying:
-- early 2011 consumption growth fell sharply compared to 2010 levels - from 4 - 2.2%; rising gas prices accounted for 60% of it;
-- inflation adjusted real spending remained flat;
-- retail sales are weak;
-- rising food, energy, healthcare, education, and local taxes have been punishing;
-- except for the wealthiest 10% of households, most others are struggling to get by, many without employment or enough of it;
-- housing is mired in depression, as bad or worse than the 1930s with no end of it in sight; and
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