I don't know about the rest of you, but in my little world, it has seemed like, economically, we've been swirling in a recession. However, no matter how much I kept telling my husband that's what was happening, the government kept saying that the economy was fine. I just couldn't understand it! Were we SO BAD at budgeting? But, technically, as long as people are still making purchases and holding jobs, it's not a recession. Well, I don't see it that way.
The problem has been that masses of people have been making those purchases by accruing debt up to their eyeballs. Somehow, accrued debt doesn't come into play when considering an economical recession or depression. But suddenly, with Christmas 2007 behind us, the foreclosure epidemic, and the struggling stock market, we're starting to see that the masses are feeling the pinch of debt. It can no longer be denied with recent headlines, like todays:
Economy much weaker than expected
http://money.cnn.com/2008/01/30/news/economy/gdp/index.htm?postversion=2008013008
You know what I think? I think that, to prevent mass hysteria, there was denial about the weak economy even a few years ago - - which also kept people shopping. But now that the pendulum has swung too far, it has to be admitted - - and so now we're getting it spoonfed to us a little at a time. First, it just wasn't a booming economy, but with a little work, it'll be fine. Then it was concern over Black Friday after Thanksgiving - - and even more concern as the shopping days for Christmas ticked away and stores were still struggling to get out of the red. Then there have been drops in the stock market and now: "weaker than expected." - - or should it read: "weaker than suspected?"
I just figured out income - - my husband's net is 55% of his gross. Yes, we do get a bit of a tax return, but it's not earth shattering, and even last year, we had to save a significant portion of the federal return to pay into our state taxes. So, it's not because he has the withholding too high. We have a significant amount going to taxes, insurance, HSA and a tiny drop of it going into his 401k.
Looking at our living expenses compared to the “standard American home,” we have very modest debts that should be paid off (with exception of our mortgage) before the end of this year. That leaves strictly our mortgage, utilities, insurances, gas and groceries.
Am I grateful for the bonus tax return we are supposed to get? Very! It may help us pay off those debts even sooner! But do I see it as truly helping? No. I see it as an aspirin for a brain tumor.
Currently, our healthcare system is absolutely a disgrace. No, I'm not going to sit here and say we should go to a national healthcare system. I don't think that's the answer at all. But I do think that private corporations shouldn't be profiting from our health "care" (that's an oxymoron!). When pharmaceutical companies are allowed to mark-up a drug 2,000% so they can profit, pay extra "legal drug pushers" to go around and convince doctors to prescribe their drugs, advertise on television, radio, billboards, magazines and other media - - well, I have a problem with that. I should be able to depend on my doctor's education to tell me what I'm "suffering" from - - not a television ad!
Further, while good doctors (emphasis on the word "good") do deserve to have a decent salary - - I think it should be fair. How many doctors went into the field because they had true concerns for healing the sick? If we put a top on their salaries - - would we still have people seeking riches going into the field? Please don't misunderstand -- some of my best friends are doctors. But I've worked with doctors for years and I know plenty that could care less about the blood pumping container sitting in front of them!
As another thought, why are our school teachers given such sad salaries when they are the ones that shape our future?
There should be annual evaluations of these jobs and increases given for performance - - not for title.
Just because one wears a white coat and uses a scalpel only specifies that s/he is a physical brain surgeon. Our teachers are non-physical brain surgeons!
*sighs*
Blast away at me - I expect it coming.
