Yes, it looks like we are to that point. In the run up to the Great Depression, we had the wood cities called "Hoovervilles". These small towns sprang up overnight, with homeless and jobless men building them out of scrap wood, cardboard and whatever else they could find.
Now, we have "Tent Cities" Popping up all over the country. They have been showing up since 2007, so any notion they are just a product of something recent and can be blamed on President Obama should be put to rest right away. Here is a story that shows them from 2008 in Reno, Nevada. In 2007 while I was in Florida there were homeless living in Tampa and St. Pete and there was a huge controversy over the police cutting up their tents and moving them out of areas.
Here is a slide show of pictures that MSNBC has up of an area near Sacramento, CA of the Tent City they have set up. It also has a second one right after this one that shows a Hoovervilles of the 30's in almost the exact same place... This is just an example of how bad things are getting out there. We have to continue to work together to keep a positive message getting across. With the media putting out that these things are President Obama's fault we have to make sure we push back and let everyone know that these things happened on Bush's watch.. not recently.