Thursday, January 22, 2009

Will the economy recover in 2009?

I have read that some people believe the economy will begin to recover in 2009.

I have also read that the economy will not due to the fact that people want to save their tax refunds or spend them on old debt.

What did you spend your tax refunds on last year? I can tell you: my ex's old student loans. That's right, the government high-jacked it. I was all set to pay down my credit card and WHAM! Got the door slammed right in my face. Apparently, unless you file injured spouse, they can take whatever your spouse owes and apply your money to their debt. I was not too happy about that at all.

It would have gone to my old debts instead. Doctor's bills, a credit card...maybe a car loan...these are the things people need to pay on that aren't necessarily at the top of the list like rent and your energy bill.

Considering the depth of the economic problems, I am not sure a tax rebate or suped-up refunds will do any good this year. It may ease some slack at the pump or heat your house a little while longer but I don't think it will get people into the malls, out to the festivals or going on vacations to Disney World.

I do believe that they are taking the right steps in re-evaluating bankruptcy and mortgage loans.

I do shiver at the thought that 2009 may be another rough year.

A very cold, rough, lonely year.



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