The United States is mired in one of the biggest economic crises since the Great Depression. High unemployment rates, bankruptcies and foreclosures are dominating the headlines and there are no clear signs of recovery.

In 2008 more than 55,000 families lost their homes in North Carolina. For many, it was an inability to keep up with their increasing adjustable rate mortgage (ARM) that ultimately led them to lose their home. In a sad and ironic turn, the 8-year term of President George W. Bush, who vigorously endorsed a culture of ownership, was punctuated not by economic freedom and prosperity but rather by unscrupulous lending practices and crushing debt for American families.

By 2009 approximately 56,000 North Carolinians were unemployed and half a million households now rely on food stamps to feed their families. But while the economy may be broken, the bonds these families share are not.

http://www.facesofthecrisis.org/

 

The United States is mired in one of the biggest economic crises since the Great Depression. High unemployment rates, bankruptcies and foreclosures are dominating the headlines and there are no clear signs of recovery.

In 2008 more than 55,000 families lost their homes in North Carolina. For many, it was an inability to keep up with their increasing adjustable rate mortgage (ARM) that ultimately led them to lose their home. In a sad and ironic turn, the 8-year term of President George W. Bush, who vigorously endorsed a culture of ownership, was punctuated not by economic freedom and prosperity but rather by unscrupulous lending practices and crushing debt for American families.

By 2009 approximately 56,000 North Carolinians were unemployed and half a million households now rely on food stamps to feed their families. But while the economy may be broken, the bonds these families share are not.