“R” for Recession

The “R” word is coming up a great deal today as the stock market makes another huge drive. The Federal Reserve Bank dropped interest rates by ¾ of a point. For those not accustom to watching those rates that is a large drop. Funny how now the talking heads are trying to tell us that Recession is more common then we think. I personally don’t want to see a recession. Maybe part of the problem is that those strings I was wondering about a few days ago are beginning to take shape. I have heard talk that people with incomes below $40,000 may not get rebate checks or they will be phased out as the income levels drop. Smooth move Mr. President; let’s not give the money to people who would be most likely to spend it. I can see that he missed or slept through that lecture in economics class. It is clear also that the help coming from the federal government will not arrive in mailboxes until late spring at the earliest. If I was making more than $40,000 a year I would put that check in my saving account until Christmas. Great big help that will be for our current economy, it is only too clear that the Bush Administration has lost touch with the working poor, that is if they ever had it in the first place, and they have no understanding of how to stimulate the economy even if their lives depended on it. It is also only too clear to the rest of the world that our economy is in for a recession until the Democrats take office in 2009.