recession

The latest tax cutting bill from Congress reminds me of 2001. The Economic Stimulus Act is designed to hopefully jump start the economy by giving tax cuts to business owners and put some spending cash in the hands of consumers, just like in 2001. In 2001, the country was reeling from the change from dot com to dot bomb. Now, in 2008, the country is reeling from the change of real estate boom to real estate bust. Or rather, the fall out from the mortgage meltdown.

We’ve had day after day of sound bytes from Wall Street and economic analysts. It’s all doom and gloom with the only hope being a government bailout. Or, at least that’s what they say.

It’s easy to get drawn into that negative drama. It’s something to talk about, email about, IM about and above all, lose sleep about and worry about. But, is it true? Is the sky really falling?