'American people in very tough times'

Source: Press TV
http://www.presstv.ir/detail/159459.html


People in the United States are experiencing a “very, very difficult time,” says an expert, as the country continues to struggle with economic woes.

“This country is like a steaming kettle, [at] fever pitch almost, the anger that has pervaded, and particularly towards blacks. It is a very, very difficult time. People are hurting badly,” San Francisco-based author and lecturer Allen Roland told Press TV in a Sunday interview.

“The unemployment rate is about 17 percent and this [is] going to get worse. Foreclosures were up 35 percent last quarter. People are suffering. Social security is no longer just a safety net; it is a means for survival for most seniors. These are tough times. And basically, we have got to be careful,” Roland added.

“The majority of American people wanted universal healthcare. No one listened to them. The majority of American people wanted true financial reform. It never happened. So, a lot of people in this country are in the midst of a deep depression. A lot of people in this country don't feel they have a voice. And when they don't feel they have a voice, they get angry,” he further explained.

Federal Reserve Chairman Ben Bernanke has said that “it could take four to five more years for the [US] job market to normalize fully.”

Experts say that the US economy needs to create nearly 125,000 jobs per month to keep pace with the country's population growth and avoid a rise in the jobless rate.

Several prominent economists have also predicted that the US economy recovery remains a long way off even more than a decade.

Claims for unemployment benefits unexpectedly dropped below 400,000 for the week ending December 25.

However, the recent drop in the official unemployment rate is attributed to the fact that Americans have given up looking for jobs.