It's gone deep. It's gotten worse.

"It's gone deep. It's gotten worse." President Obama said of the recession in Fort Myers, Fla. couple of days ago.
After Senate passes $838B economic stimulus bill, with the actions that could throw as much as $3 trillion more government and private funds into the fight against frozen credit markets and rising joblessness, the major indices were pushed lower on Tuesday on increased concerns about this nation's financial industry that the government's proposed stimulus package will not lend adequate relief to the health of the banking industry. In addition, the report from the Commerce Department showed that this nation's wholesale inventories were reduced by the largest amount in almost 17 years during December.
With the economy affecting on every aspect of this country's businesses, companies already cut their reserves by 2%, twice the amount that economists had expected. Furthermore, sales at the wholesale level plunged 3.6% during the month as well, more than any analysts had projected.
The Dow Jones was down more than 4.7% at 7,888.88,the S&P 500 was down almost 4.8% at 827.15 and NASDAQ down 4.2% at 1,524.73.