The current financial situation, which has seen a high percentage of the US population fall into debt, is gaining coverage across the Atlantic.

British news provider the BBC has been running a weekly program on its Radio 4 channel, which gives an insight into the economic landscape in America and highlights the problems US citizens are encountering.

Reporter James Naughtie presents the show - called American Dreams - which tries to explain how life has become difficult for some people as prices of commodities spiral.

The BBC claims that there are a number of Americans who are worse off than they were under the previous White House administration and suggested many are concerned for their futures.

Focusing on Detroit in particular, the corporation states: "People who thought they would remain reasonably comfortable are discovering that rising medical bills, falling wages and petrol at $4 a gallon are making life difficult."

Pressure asserted by banks and mortgage lenders compounds the trouble, it adds.

Standard & Poor's/Case-Shiller home price index revealed last month that US property prices in April were on average 15.3 percent down when compared to the same month in 2007.

-----------------------------------------------------------------------