Really? Another Great Depression?

Posted on October 7th, 2008 – 4:47 PM
By Kara McGuire

Here’s a question from the CNN/Opinion Research poll conducted over the weekend:

Q: As you may know, the U.S. went through a depression in the 1930s in which roughly one out of four workers were unemployed, banks failed across the country, and millions of ordinary Americans were temporarily homeless or unable to feed their families. Do you think it is very likely, somewhat likely, not very likely, or not likely at all that another depression like that could occur in the U.S.?

A:

  • Very likely 21%
  •   Somewhat likely 38%
  •   Not very likely 29%
  •   Not likely at all 13%

While I think that things are going to be tougher economically in this country for months, if not years, I have trouble imagining 25 percent of the population out of work and millions of Americans in soup kitchen lines and on the streets.

How would you answer this question?

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