Access to basic necessities is hitting recessionary levels as healthcare, food and housing are getting tougher to come by these days, a Gallup poll finds
"Fewer Americans had access to basic life necessities in September. The nation's Basic Access Index score fell to 81.4 last month — on par with the 81.5 measured in February and March 2009 amid the recession," Gallup reports.
"Fewer Americans now have a personal doctor and health insurance. And more Americans are having trouble paying for food and shelter."
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While the majority of Americans still are able to buy the basics, the trends shows it's getting harder for more and more to do so.
"Gallup's global research finds Americans are now struggling more than Chinese to afford food, a reversal from 2008. If the worries about a double-dip recession come to fruition, even more Americans may start having problems meeting their basic needs."
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More and more economists these days are describing a return to recession as a foregone conclusion.
"The U.S. economy is indeed tipping into a new recession. And there's nothing that policymakers can do to head it off," according to the Economic Cycle Research Institute, the AFP newswire reports.
"It's important to understand that recession doesn't mean a bad economy — we've had that for years now. It means an economy that keeps worsening, because it's locked into a vicious cycle. It means that the jobless rate, already above nine percent, will go much higher, and the federal budget deficit, already above a trillion dollars, will soar."
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