Poor and working class communities, already hit hard by layoffs and shorter work hours from the recession, are about feel more pain as state and local governments cut health care, education, and other social services that our families need.

There's not any doubt that executives at corporate giant WorldCom are guilty of fraud. By claiming that $3.8 billion in expenses were “investments,” they were able to tell investors that they had an extra $3.8 billion in profits. But games with accounting were the least of their crimes. 17,000 workers are losing their jobs. For the laid off, more than a few homes and dreams will be casualties of WorldCom's callousness. WorldCom employs about 80,000 people. More job cuts will take place in coming months. Pensions are gone. Families are left without health care. Life savings are wiped out.

San Jose, CA – In February, President Bush sent Congress his budget proposal wrapped in a red, white and blue American flag. The winners? Wealthier Americans who will get almost $600 billion more in tax cuts over the next ten years (on top of the $1.5 trillion tax cut passed last year) and the military, which will have $550 billion more to spend over the ten year period.

San Jose, CA – While layoffs mount and cities report more hunger and homelessness, Wall Street is expecting the economy to boom in 2002. This has sent stocks soaring since late September. Wall Street expects the Federal Reserve Bank's eleven interest rate cuts this year, along with more tax cuts for corporations and the wealthy being pushed by Republicans in Congress, to spark a recovery in corporate profits.

Economist Adam Price answers your questions on the deepening economic crisis.

San Jose, CA – Silicon Valley's boom is going bust. Hi-tech corporations that were once the darlings of Wall Street, such as Cisco, Hewlett Packard, and Juniper Networks are laying off thousands of workers. The unemployment rate here in Santa Clara County has doubled since the beginning of the year.

Laid off or your hours cut back? Falling behind on your loan payments or finding yourself with a bigger credit card balance each month? Or you just can't manage to save for emergencies or retirement? Think that your tax refund check will help out? Better think again.

Asheville, NC – One hundred students gathered on the steps of the University of North Carolina-Asheville’s (UNCA) Ramsey library today to protest against the administration cutting days out of the 2009-2010 academic calendar. With banners reading “Transparency now!” and chanting, “Let the students have your say, give us back our reading day!” students rallied for accountability, transparency and more student participation in decisions that affect them and the university community. The Coalition for Education Rights, made up of several campus organizations including Students for a Democratic Society, Student Government Association and HOLA (Hispanic Outreach for Learning and Awareness) organized the action.

Minneapolis, MN – The Hennepin County Sheriff's officers knocked on the door of Rosemary Williams on July 24, at 9:15 a.m. They handed her an eviction notice, stating that she and her family (including two grandbabies) had to be out of the house by Monday. Ms. Williams, along with the MN Coalition for People's Bailout the MN Poor People's Economic Human Rights Campaign were already prepared with a press conference to announce plans to resist the eviction.

San José, CA -On July 2, the Labor Department announced that another 467,000 jobs were lost in June as the official unemployment rate rose to 9.5%. This brings the total job loss during the recession to more than 7 million. This means that all the jobs gained under the Bush administration have now been wiped away by the recession. This is the first time since the Great Depression of the 1930s that all the job gains of an economic expansion have been lost.