April 07, 2008

Today's Question: Recession or Not?

The question on the mind of many people is: are we in a recession? If you were to ask most people that question, they would respond with a “Yes!” However, technically a recession is two or more declining quarters of GDP. So technically, no America is not in a recession. At least not yet!

However, this does not help if you have lost your job. In fact, that is the old saying. If your neighbor losses their job then it is a recession. If you lose your job then it is a depression!

While the United States, in general, is technically not in a recession, it may be different for you. My purchasing power has drastically decreased over the past several months. Food and fuel have cost much more. I estimate our food/household bill to be about $300 a month and our gasoline bill to be about $250 a month. Add in taxes and utilities and there isn’t much left at the end of each month. Home heating bills alone will be over $1,000 for the year.

In fact, some of the lower paid workers I have talked to are seriously thinking of quitting their job or at least looking for a job closer to their home. Of course, many of them do drive giant trucks or SUV’s. The cost of fuel and day care expenses no longer make it worthwhile to work.

It is nice to know there are non-profit organizations like the Angel Food Ministries to help all people provide food for their families. This is a program across the United States that provides a weeks worth of meals for a family of four for only $30. For more information or to find a local church partnering with Angel Food Ministries in your area check out their web site.

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