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The economy is in crisis?

Ooooh! Could we be a little bit more sensational? The economy has slowed, we are likely entering a recession, and credit is tight while major banks fully evaluate the recklessly loose lending practices of the past five years. That said, the economy is FAR from being "in a crisis".... ....yet....that's not coming for a few more years, when the bills for Social Security, Medicare, Medicaid, TANF, WIC, Food Stamps and Obama/Clinton's next free-lunch giveaway program come due on top of Iraq and the rest of the drunken-sailor spending the Republicans have undertaken in the past four years. I'm sure that Professor Simpson told you that recessions are a completely normal phase of the economic cycle. Oh, but why mention that? The story wouldn't read as sensationally, would it? The professor is VERY right about one thing - people are getting scared because we're talking up a routine recession until it becomes a major event. That's likely by design. The Democrats would like nothing more than making us think the economy is in the toilet when November rolls around.


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