Recession is changing the way we live

In a slow economy we tighten our budgets and open our wallets only when necessary. Even the wealthy are reconsidering their purchases and expenses. We are changing the way we shop, the way we have fun, and the strategies we employ to be successful employees and business people. But is this the right thing to do?

People spending keeps the economy going. The problem is we have overextended ourselves and now our incomes are not able to keep up with our cash outflows every month. As the economy slows, salaries remain static, and business owners are laying off workers, finding the money to give us relief is nowhere to be found. Another problem is our distrust of our government.

Our government is just as bad, if not worse than we are at overspending in a daily basis. And the bills just keep adding up. If our government can’t fix her own debt problems, why should we believe she can find solutions for us? The decisions they’ve made or failed to make have placed us in our current position. While it may be true that some sort of recession comes along every five to ten years, the solutions used to correct the economy in the past will not work this time. New solutions are needed at the government level. At our level, we need to be more proactive politically and financially. Our financial futures are in our own hands. Maybe as we citizens become more fiscally responsible, the government will see us as examples and follow our lead.