Fed Survey: The Economy is Mending

Wendya9/09/2009 12:16:55 pm PDT

re: #44 Land Shark

I certainly hope the recession is easing. I don’t buy it since so many people keep losing their jobs and the unemployment rate just keeps rising. And I think once taxes start to go up to pay for all the spending we’ve seen from the Tarp bill (which was under GW’s watch) to the still to come Health Care and Cap N’ Trade bills, any recovery we see now will prove to be a mirage and the real depression will start.

But I want to be wrong. I already know too many people who’ve lost their jobs. I want to see the economy improve and people get back to work.

Tax revenues have dropped 18% this year and spending has skyrocketed. Individual income tax revenue is down 22 percent and corporate income tax revenue, 57 percent Payroll taxes are also expected to decline. The government is running out of people to tax.