South Puget Sound Community College and the local community have felt a large impact from the 2008 mortgage crisis and recession.
The college has already trimmed all the fat off the budget and it’s possible that the college may start cutting programs and services while raising tuition, according to SPSCC President Gerald Pumphrey.
“There’s already a tuition increase planned for 2012-2013 of 12 percent and I think there will likely be a discussion, depending on how deep the cuts are, if there’s to be a larger tuition increase than that…You never make up all the budget cut with a tuition increase because it just takes too much tuition to do that,” he said.
“We are actually gearing up for a process to do another budget reduction mid-year, just as we had to do last year,” he said.
Washington has not escaped this financial crisis either. According to the Seattle Post-Intelligencer, a special session is scheduled to begin Nov. 28 to discuss closing the remaining $1.3 billion operating budget deficit.
Governor Christine Gregoire said the state made almost $10 billion in reductions since the beginning of what has been termed “The Great Recession.”
According to an MSNBC article by Douglas McIntyre, “The Great Recession” lasted from December 2007 to July 2009. Yet many Americans feel like the recession never ended, the primary point being that real estate values have decreased dramatically.
“Values have dropped nearly 50 percent in parts of Florida, California, Nevada and Arizona,” wrote McIntyre.
According to a New York Times article by Katherine Rampbell, the second recession can be much worse than the first.
“Today the economy has 5 percent fewer jobs — or 6.8 million — than it had before the last recession began. The unemployment rate was 5 percent then, compared with 9.1 percent today,” she wrote.
The problem is that the United States only considers unemployment statistics for up to six months of someone being unemployed. Those who are unemployed for longer than six months are not included in the 9 percent unemployment rate.
Businessinsider.com calculated the adjusted unemployment rate to be at 17 percent, to include those that have not been able to find a job.
People are becoming desperate and fed up with the system. A protest called Occupy Wall Street is a response to greed in business and the rising poverty level.
This protest has spread across the world with demonstrations arising in London and Madrid with several thousands in attendance. It started in New York and slowly spread across the nation to Olympia.
In Olympia there is currently an occupation in Heritage Park at Capitol Lake. Although not necessarily on the scale as those in other places, it is slowly growing in size.
“The double dip recession can be ended immediately by someone with the guts to stand up and say it,” said one protester on occupyolympia.org.