Recession hits families hard as half of Americans fear they won't be able to do their holiday shopping

The number of Americans considered 'economically insecure' reached a new high during the period from 2008 to 2010 which spanned what is now called the Great Recession.

This news comes just as businesses hope to increase profits amid holiday sales and Christmas shopping, but half of the U.S. population is now worried that they won't be able to buy the presents on their list because of their financial situation. 

Worried: Financial troubles are dampening people's expectations this season

Deemed economically insecure by the Economic Security Index, 20 per cent of the county have considerably less spending money now as compared to previous years.

By comparison, only 14.3 per cent of the country's population was in the same position in 1986.