Pass a Stimulus Package to Help Working Families

Photo from billadler via Flickr.

Bread for the World is urging Congress to consider a second stimulus package in light of the rising cost of fuel, food and basic necessities.  Food prices have soared, with the cost of groceries 7.1 percent higher in July 2008 than in July 2007.  These latest statistics are more bad news for working families:

• Unemployment is now at its highest level since March 2004, and one in five unemployed workers has been looking for a job for more than six months.
• Hourly earnings have risen only 3.4 percent over the last year, below the pace of inflation, which is at 5.6 percent.
• Gas prices are at a national average of near $4 a gallon, having increased 37.9 percent since July 2007.
• Foreclosure filings – default notices, auction sale notices, and bank repossessions – are up 55 percent from July 2007.

You can read Bread for the World’s recent post about a second stimulus package on the Hill blog.

Inflation Climbs to a 17-year High – Washington Post
Living Costs Rise Fast, and Wages Are Trailing – New York Times