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July 2, 2009
Posted: 04:00 PM ET
(PHOTO CREDIT: Spencer Platt/Getty Images) FROM CNN's Jack Cafferty: As millions of Americans get ready for the July 4th holiday weekend, some more dreary news on the job front. The government reported another 467,000 jobs were lost in June - far worse than forecast and the first time in four months that the number of jobs lost went up. The unemployment rate - now at 9.5 percent - has gone up for nine straight months and sits at a 26-year high. One expert describes these numbers as not catastrophic... but "still pretty damn lousy." As the recession drags on, a new Gallup poll shows 71-percent of Americans say they have cut back spending... while 88-percent say they're watching spending very closely. This is despite the fact that 78-percent of those surveyed say they have enough money to buy only what they need. 21-percent say they worried "yesterday" about spending too much. Gallup suggests these results show Americans may have reached a "new normal" of spending less and that frugality may become a permanent part of the national fabric. In the wake of the recession, they also looked at Americans' drinking habits, and found the percentage of adults who drink alcohol has stayed fairly steady at 64-percent. There are no major changes reported in how much drinkers drink - and their preferred drink is still beer. It's a problem. The recession may very well give people more reasons to drink - but they have less money to do it with. Here's my question to you: In light of the recession, how will this July Fourth celebration differ from years past? Interested to know which ones made it on air?
David from Tampa, Florida writes: Jim from Hoffman Estates, Illinois writes: Affy from California writes: Larry from Chicago writes: Willow from Iowa writes: Terri writes: Perry writes: Filed under: Recession United States |
Jack Cafferty sounds off hourly on the Situation Room on the stories crossing his radar. Now, you can check in with Jack online to see what he's thinking and weigh in with your own comments online and on TV. Send your comments on the "Cafferty File". Jack's Book
Read excerpts about Jack's battle with alcoholism and Jack's philosophy on parenting. CNN=Politics Screensaver
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