6.16.2004

Big Economic Recovery? Where?

Over the past 10 days, I've asked just about everyone I've spoken with the same question, "Do you feel we're having a big economic recovery like the president and media keep telling us?" Without exaggeration, I've probably asked this of more than 200 people.

Now, my audience has not been limited to those geographically close to me. I've put this question over the phone or via e-mail to friends and associates in California, Texas, New Jersey, two in Hawaii, New York, Florida, the Midwest, Minnesota, and New Mexico. Oops, Louisiana, too.

The answers (some of which I'll supply below) have varied a bit in content but each and every one has essentially said NO.

Examples:

    * "Are you joking? This is the first time in my life I've considered filing bankruptcy."

    * "Well, I was only 25 days late paying my mortgage last month. That's a little better."

    * "It's pretty bad. Only people working around here are military and defense contract employees."

    * "Don't ask when the last time was we went out for dinner, a movie or even a pizza. We cut the extras out over two years ago so we wouldn't dip into savings to get by and now our savings are nearly gone, too. You want frugal? We do our own haircuts, keep the AC off, don't drive anymore than we need to, sold one of the cars, and haven't taken vacation since '98."

    * "I think I missed the recovery."

    * "Even my parents are struggling."

    * "Don't laugh but I'd consider selling porn if I could pay my bills on time."

    * "Absolutely not. My wife and I now work three-and-a-half jobs and earn less than the two jobs we used to have. When the furnace went over the winter, we had to use the kids' college fund."

    * "Gosh, we're back living paycheck to paycheck. One more illness or serious repair would make us tap into the 401Ks. My brother and sister say they're just as strapped. It's really scary."