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---Lede: As bad as it is, our economic woes are only just beginning. Doug Cunningham reports.

By Doug Cunningham

The economic downturn we’re suffering is the worst in a generation and the misery for workers is only just beginning. That’s according to economist Mark Weisbrot of the Center for Economic and Policy Research.

[Weisbrot]: “I think it’s going to be worse than anything we’ve had for at least 25 years. Housing bubble was eight trillion dollars in size. This is only about half a burst so far. That means we’re going to have a whole new wave of mortgage write-down and foreclosures. So it’s really just beginning right now.”

After five straight months of net job losses, Weisbrot says to really create the kinds of jobs working families need, politicians have to apply much bigger economic incentives than those tax rebate checks they’ve doled out so far. One positive note in this sea of economic misery for workers though, is social security. Weisbrot says politicians don’t have to lift a finger right now to guarantee its solvency.

[Weisbrot 2]: “It is solvent. It’s good for forty years if we don’t do anything. And even if we never did anything to it, it would always pay a higher benefit adjusted for inflation than what workers – retirees – are receiving today.”