Shops and businesses are closing down across the U.S. as the global recession deepens. Unemployment is rising and ordinary Americans are making financial sacrifices to stay afloat. This often means cutting down on life’s luxuries, like eating out and goin

Stocks on Wall Street have plunged to their lowest level in 13 years low, while the number of jobless has soared to its highest in a generation.  Even Starbucks has been laying off staff and shutting some of its doors – a sure sign that things are serious.

But this multinational chain isn’t the only one feeling the pinch. Even cheap Mexican eateries are seeing tough times.

“I’m trying to cut down on little things like going out to eat,” a Georgetown resident says.

Some people have downgraded lunch to just a cookie, and that’s a hard fact for Americans to swallow.

College students have certainly cut back, but what about the rich folk?  They are struggling too.

“Right now they are really fighting for their lives!” global economic analyst Alan Bragman says.

All across the country, from LA to Detroit to Washington DC, it seems like everyone is cutting back to save whatever cash they have.