...or even Americans with jobs. Everyone with an income is paying down debt and saving for torrential rainy-day they see on the horizon. There aren't many employed people who are out spending on stuff. And that's an even bigger problem - or at least as big - than the hit being taken because unemployment is so high.
Very true. Of course, the Obama Administration's answer to this will be to promote another massive stimulus package this fall. I believe their plan is to use it as a wedge issue against Republicans, who will oppose it as economic lunacy (which it is) by portraying them as uninterested in the plight of the middle class.