The Great Recession served to scare the proverbial pants off of many of this. The doom and gloomers have forecast the end of America as we know it. Is this true? No!

Admit it. There were points in the last two years where you were afraid, nervous and worried. I was! The economic news was brutal, so much so that it often felt like we were watching one of those Hollywood movies where the world is blown up. 

Part and parcel with the pain came the gloomers. You know them. The pundits on television and the radio who are forecasting this to be the end of the United States as we know it. The basic theme is our financial situation is so bad we will never recover, the end is nigh and so on. 

Don’t believe it. 

First off, these individuals were the ones who were claiming everything was great and would never change just before the implosion. Perhaps you’ve watched Jim Cramer. He’s the stock picker with the humorous television show with all the sound effects. I love his show, but he isn’t exactly credible. This was the man who was recommending people purchase Bear Sterns a couple days before it went bankrupt!

Listen, we have lot of problems. Government unemployment is listed at 9.5 percent with real unemployment being in the 16 percent range. We are running an annual deficit just below $1.5 trillion and an overall deficit in the $13.3 trillion range. Throw in unfunded liabilities in excess of 60 trillion for the next forty years and the picture can look bleak.

We will, however, get out of it. Here is what is going to happen. The economy will slowly pick up speed. It might take till late 2011 or early 2012, but it will get humming again. When it does, jobs are going pick up. That will put people back to work and money in their pockets. They will buy homes and spend money. This will get the economy moving again and start generating tax revenues for cities, counties, states and the federal government. This will cure the short term problems. 

Long term, we need to come up with a comprehensive plan to deal with our budgetary problems. This will happen if for no other reason that the problem will soon be unavoidable. You can count on the solution involving higher taxes and entitlement changes such as raising the retirement age for social security. All will be painful to one extent or another. The key is to plan for them ahead of time and position yourself in as positive a manner as possible. Contact us today at (800) 341-5433 or via this contact form to learn how.