Three years into the Obama administration, and 29 months after the putative end of the Great Recesion, only seven percent of Americans have returned to the income they enjoyed before the recession. A new study finds fully 69 percent of Americans have experienced devastating economic conditions during Barack Obama’s time in office. Many have forsaken medical treatment, reduced their food budgets, borrowed money, or sold possessions to stay afloat. And a sizable percentage has no hope that its lot will ever change.
The study, which was released today, is entitled “Categorizing the Unemployed by the Impact of the Recession” and was conducted for the John J. Heldrich Center for Workforce Development at Rutgers University.
Its authors surveyed nearly 4,000 Americans in August 2009, March 2010, November 2010, and August 2011.
Fully 69 percent of respondents ranked themselves “Downsized,” “Devastated,” or “Totally Wrecked.”