“The economy sucks.” I can’t even remember how many times I’ve heard this phrase over the past few weeks. Suffice to say, it’s been on the tip of everyone’s tongue.

For months, economic indicators in the United States have steadily pointed downward. Now, we are beginning to feel the effects.

Unemployment has risen to 6.1 percent, the highest in five years. Inflation is also up, while interest rates have sunk. And then, of course, there’s the housing crisis and the $700 billion bailout plan.

In fact, things have gotten so bad that Playboy CEO Hugh Hefner has had to lay off some of his staff.

Yes, that’s right: the world will soon be a few bunnies poorer.

The company has hit hard times lately. Share values bottomed out this week at $1.75 apiece, down from a peak of almost $9 this spring.

So what does it mean when an icon of American culture – and symbol of our excess – has such financial trouble?

Often when the economy falters, non-essential commodities like adult magazines lose money or go under. People don’t have as much money to spend, and so they buy more important things first. Because of this, you can measure the health of an economy by how well businesses like Playboy are doing.

By those standards, the picture isn’t pretty.

Hefner’s Playmates aren’t the only ones suffering. The crisis, which economists balk at calling a recession, is affecting ordinary people just as much or more.

Greater financial distress hits those at the bottom of the economic scale hardest. Salaries get trimmed, hours are cut, and lower-level positions are more likely to be eliminated by companies trying to stay afloat.

A higher unemployment rate can cause rising dependence on public assistance. Enrollment in the food stamps program recently rose by approximately 1 million applicants. While there is no single cause for this, it cannot be denied that job losses may have had more than a little to do with the jump.

People seeking aid may have to depend more and more on government programs because many non-profits have reported a decline in donations. Most organizations depend on contributions from major corporations in order to provide services. With several of these companies facing massive hardships, non-profits won’t have the resources to help as many people. And with more people jobless or underemployed, the number of those in need will only grow.

However, many believe that the crisis is being blown out of proportion. While things may not be great, they argue that the media has tried to hype it up, thereby making the problem seem much more serious.

Still, the effects of our lagging economy are tangible and undeniable.

Just ask the poor bunnies who had to turn in their pink ears and fluffy tails.