My husband has worked for the University of California for 25 years. He was given his 3 month notice two weeks ago. He already has been applying for jobs. He is competing with 50 applicants, minimum, according to those in the know.
I have a permanent disability. The price of prescription drugs I have to take are far more than our monthly house payment. If or when he gets laid off, COBRA will cost almost as much as our house payment, but we can’t afford to be without it. While we are fortunate to have a bit of savings, I am not sure what we will do after a few months. We have a car we could sell, but we wonder if anyone would buy it in these times.
I'll point out again that a single payer health care system that covers all Americans would substantially reduce the overwhelming despair a lot of families are going through.. but there's more here...
The husband has been working at the same place for 25 years.. 25 years of steady income.. and all they have in emergency savings is a "few months"? Really?
I feel badly for them being in a pickle, but they should have at least $100K in savings, and she should be violating the law and buying her meds from India, where it's vastly cheaper for the generics.
...
I also see where AIG is getting another $30B after losing $61B in the 4th quarter. That's one 3 month period, they've lost $61 billion.
Where did it go?
We're told that AIG is so big, and so tied together with other financial institutions, that were it to fail, our entire economic system could fail. I have no idea if that's true or not, but I suppose we just have to assume the grownups know.
The sense that I'm getting is that the recession is going to be deeper and last longer than what we're being told. It could be shitty and exciting at the same time.
There could be a lot of people with no money, no health insurance, and nowhere to live.
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