ShAARP Session: Observations from AARP

There has been discussion of the need to overhall America's financial system for years. This talk ramped up dramatically when the economy went in the tank and many blamed an apparent lack of regulations to keep Wall Street in check. Well after months of intense discussion, the President has rolled out his plan to reform the financial system. This plan is expansive. It covers everything from complex Wall Street trading scenarios to a straightforward home loan.

Given the recent groundswell of support for increased regulations it's not surprised to see such wide-sweeping proposals for reform, but it can be a lot to process. If you're looking for a good summary of the President's plan, read this. There are a bunch of changes in store for the financial sector, what do you think?

So you used to work in a big automobile plant and you got laid off. This is a big deal. How are you going to find a new job? With unemployment levels so high there is a ton of competition. Maybe you're willing and able to go back to school. Otherwise you may have to learn some new skills and try to make it in a new industry, like pro-wrestling. That's what's going on at Boogie's Wrestling Camp in Shawsville, Virginia. At Boogie's, regular Joes are trying to make it big on the pro-wrestling circuit. So maybe if you get fired from your job the question should be 'Are you ready to rumble?!'

Everyday working stiff aren't the only people struggling right now. Believe it or not, Ripley's is having a tough time finding enough oddities to fill its museums. Normally they say a bad economy is good for their business because folks are willing to sell their toothpick renditions of San Francisco and six-legged cows at a discount. Not so right now, and Ripley's can't find enough shrunken heads and medieval torture devices to feed the public's appetite. If they're truly desperate for some weird stuff, they should check the back of my refrigerator.

It seems like just about everybody is looking for a bailout from the government these days. Banks and automakers have both gotten a helping hand, but could newspapers be next? With the economy being what it is, an industry that has been facing increasingly tough times has been pushed to the brink. So the question is how bad are things for newspapers? Well if a whole bunch of layoffs and closings are any indication, the answer is "pretty bad." So what happens if we lose this institution? Can "new media" take the place of newspapers? While it's too soon to know if we are witnessing the death of a medium for certain, the long-running animated comedy 'The Simpsons' certainly seems to think so.

If you've recently lost your job, you're not alone. However, a growing number of people are trying to take advantage of the high unemployment rate. Considering all the folks who have been laid-off, it's not surprising that some of them have found creative ways to profit from their situations. Some are making websites and selling merchandise including customizable T-shirts you can put your cover letter on, and all sorts of apparel announcing that you need a job. A little inventiveness can go a long way when you've lost your job, but if you're not the type to think outside the box, it can't hurt to let people know you're looking for work.

A major part of President Obama's plan for the country's economic recovery is infrastructure spending. While many people think of highways and buildings when they think if infrastructure, the President has envisioned a major expansion of high-speed rail services as part of his plan to stimulate the economy and create jobs. Though rail travel has never caught on in the U.S. the way it has in Europe and Asia, the President hopes that new rail projects and increased funding will lead to a boom in rail travel in the country. What do you think about expanding train service throughout the country?

All you ever seem to hear about these days are the companies that are laying people off and the cities and states with the highest levels of unemployment. However, there are bright spots in this economy, you just need to know where to look. Here are a few of the best cities you can head to if you're looking for a job. While their current growth levels might not be much to brag about, relative to their competition these cities are diamonds in the rough. If you're considering relocating to find work, you might want to take a peek.

I am in love with this woman. Clara, 93-year old cook and great grandmother, not only shows us how food was cooked during the Great Depression, but tells us stories from her childhood during that time. It's a wonderful way to learn how to cook while listening to some intriguing tales. You can also check out her website here.

Cook on, Clara!

With the announcement of President Obama's loan modification plans on the horizon, there is hope for all those homeowners out there who are struggling to keep up with their bills. Today, Citigroup Inc. announced their own mortgage modification plan to aid certain borrowers who are in trouble. They will let some people with loans through their company temporarily lower payments to around $500 dollars per month. This program only applies to people who have lost their jobs and are at least 60 days behind on their payments. Still, Citi thinks the plan will help out thousands of homeowners. If you think you might qualify, be sure to call Citi and find out.

Looks like sunny California isn't as sunny as it seems. New research conducted by UCLA Center for Health Policy Research found that 47% of California residents aged 65 and older are unable to pay for basic needs. The Mercury News reports:

The new data reveal far deeper poverty rates among seniors than was previously known. According to the decades-old standard of measuring poverty, only 9 to 10 percent of California seniors were considered poor, that is, earning less than $10,000 a year. Researchers note that amount is peanuts in high-cost California, failing to reflect the true cost of survival.

"For us, what's striking is that these numbers are not even taking into account the latest economic crisis," said co-author Susie Smith, a program director at the nonprofit Insight Center for Community Economic Development. She noted the report used 2007 census data. "We can only imagine when we update this information next year, what the numbers are going to look like."

While Obama's stimulus will provide temporary relief to SSI recipients who are blind, elderly or disabled, stronger initiatives needs to be taken in-state to track poverty rates among older people so appropriate local action can be taken. Assemblyman Jim Beall, D-San Jose, has introduced a new bill, the Elder Economic Dignity Act of 2009, which calls for California to track seniors in poverty, but by using new measurements. Believe it or not, officials currently use a 50-year old federal measure to decide who is above or below poverty.

"There are a lot of hungry seniors, a lot of seniors who have suffered economically over the last decade," said Beall, "So to use a measurement that goes back to the 1950s is clearly not appropriate."

Can't get much clearer than that! Sheesh. Let's cross our fingers that this bill gets picked up.

In the midst of the terrible economic news, and the passage of the stimulus package, President Obama announced his budget proposal. One of the most noted aspects of this budget is the money allocated for reforms to the health care system. The President isn't the first to try and overhaul America's health care, but he is going about it in an interesting way. Rather than coming up with a whole plan and then trying to gain approval for it, he his budgeting money first, and then working out the details. The plan is to reserve the money for expanding and improving coverage, and then working with Congress to find a solution that will be able to gain the support needed for passage.

President Obama's biggest challenge may just be finding ways to pay for his budget, especially as the government is seeing decreasing revenues during this recession. It will be very interesting to see how the planned spending in this budget will match up with the economic realities we are all facing right now.

Last week Congress and the President pushed the huge stimulus package into law. With all of that money, flying around it's important to know what's in it for you. A few highlights from the bill include a $400 payroll tax credit for those earning under $75,000, a $25 raise in unemployment checks, which you can now collect for a longer period of time. Also, if you collect Social Security, you're in line to receive a one time payment of $250 dollars and you won't even have to file any paperwork to get it. Federal programs such as Medicaid will also get a big financial boost. There's a lot in this stimulus package so it really pays (literally) to do your reading to make sure the government shows you the money.

Earlier this week I wrote about how retirement can still be attainable in tough times. One major step in preparing to retire is finding cheaper living arrangements. Well here is a list of some of the cities with the most affordable housing in the country. Many are in upstate New York, but there are other cities throughout the country that offer some hope. Just make sure they aren't also on this list.

Yesterday President Obama announced his plans to address the mortgage crisis. It is the second phase of an all out effort to fix the troubled economy. This comes after Congress voted to pass the American Recovery and Reinvestment Act of 2009 and the President signed the bill into law. AARP and our 40 million members were declared a "key vote" in this decision. Hurray! Nancy LeaMond, AARP Executive Vice President, released this statement:

"Unprecedented job loss, loss of savings and investments, and rising numbers of uninsured individuals has forced every American to take notice of this dire moment in history. The passage of the American Recovery and Reinvestment Act of 2009 is a critical moment for Americans young and old and a vital jump start to our ailing economy.

AARP is pleased to see that Congress included a $250 economic recovery payment for older Americans, veterans and people with disabilities who are not eligible for the Make Work Pay credit."

Read the whole statement here, as well as a list of the most important pieces in the legislation that will benefit older Americans. In the meantime, keep an eye on AARP's government watch site to check out how your officials voted on the legislation.

In a move to combat wavering consumer confidence, JetBlue is offering refunds to any customers who have been laid off after purchasing tickets with the airline. The new program is designed to help give travelers the confidence to buy plane tickets without the fear of being unable to afford travel after losing a job.

JetBlue isn't the only company trying to reassure customers. Car manufacturer Hyundai is running a new promotion in which any customer who buys a car and is laid off can return the vehicle without paying any additional money or penalty. Companies hope that these efforts will bring consumers in and increase falling revenues in these challenging times. If only I could get the movie theater to return my ticket money after seeing a terrible flick.

If you listen to all the doomsday predictions and naysayers, then you probably don't think you have any shot at retiring. Not so says one Kansas State University professor. According to Fred Brock, people can still retire even during a steep recession. The key is not only trying to maximize earnings, but more importantly cutting costs. It's often unpopular to resort to scrimping and saving every last dime, but this is your retirement people! If it is truly important to you then you may have to make sacrifices. You might even need to move into a smaller home. If you owe money on your current home, renting it out could provide an additional source of income. In short, no pain no gain.

When the saving gets tough, the tough get saving. That's pretty much the bottom line from the experts when it comes to protecting your retirement savings. While your portfolio is likely going through difficult times these days, there are still important measures that can be taken to protect what you've saved. Many of these strategies can be a bit painful and involve some sacrifice, but tough times call for tough measures. Cut back where you can, sock money away some place safe if you can, and you may have to put off retirement. However, with some fiscal restraint you can prevent losing your nest egg.

Not rain, nor sleet nor driving snow, not even snake bites can halt it, but budget shortfalls may ultimately prove to be the only force capable of stopping the mail from being delivered. A combination of the increased use of email and the struggling economy have drastically reduced the amount of mail been sent through the postal system. Despite recent increases in the cost of postage, the postal service is facing major shortfalls. The postmaster general recently told Congress that the USPS could face cuts including possibly cutting delivery down to five days per week. While this is just one possible measure being considered it is a stark example of how rough things are really getting out there. However, despite major financial losses, it seems like the postal service may have larger concerns at the moment.

So yesterday Tom Daschle began the process of going through confirmation hearings.

President-Elect Obama gave a speech on the dire need for quick passage of a massive stimulus bill.

We're also being told that many of us can expect to get pay cuts if we're lucky enough to keep our jobs.

On the plus side, I found this little gem of a blog which can be a great distraction from all of the horrible headlines we've been seeing of late. Check out my personal favorite below:

So if any of you are like me, you've probably heard about the Federal Reserve Board cutting short-term interest rates by three quarters of a point and wondered: What does that mean for me? Well, when the Fed lowers the interest rate, rates also drop for things like credit cards, mortgages, and home equity lines of credit. Also, if you can get a loan for something like a car, you should be able to find bargain. However, these are only useful benefits with people who can get loans. With the credit markets so tight, anyone with less than perfect credit may find themselves unable to enjoy some of these benefits. While everyone might not be able to get into the party, lowering rates are definitely a step in the right direction as we try to pull ourselves out of this recession.

You needn't look any further than this blog to see that the headlines have been pretty bad lately. News of the credit crunch, high gas prices and foreclosures have been top stories since the summer. When the economy is having tough times like this, you need to worry about more than just your stock portfolio. There are people out there looking to swindle you out of your money by using many elaborate scams that piggy back off of the current condition of our economy. Be diligent when considering a company that claims they can help you reduce your debt or give you huge profits by investing in foreign currency or energy. With tough times looking like they are here to stay for a while, we can all ill-afford losing money to some scammer.

When it comes to marketing, retailers will always find new ways of getting their message to customers. In today's tough times, companies are getting increasingly creative. With a cell phone in the majority of American households, more and more retailers are using text messages to reach their consumers. In addition, some stores are even creating web sites made specifically for access by mobile devices. Blogs and emails are also being used as stores are desperately seeking revenue in these tough times. So watch out the next time you feel that cell phone buzzing.

I've spent a lot of time blogging here about the many ways folks are trying to deal with hard times, but here is one situation where you have to wonder if the pain is worth the reward. As people are losing their jobs and seeing declines in their home values, they are being forced to wait out the bad economy. Specifically, divorced couples and those who have recently broken up are being forced to postpone plans to move out. This means that even though couples have split, they're forced to stay under the same roof to save money. Talk about awkward!

Yesterday the National Bureau of Economic Research announced that the U.S. has been in an economic recession since late 2007. For just about everyone else, this was pretty old news. The stock market responded accordingly and tanked, as the Dow fell 679 points. Despite all the bad news, the government still says it is working hard to stem the losses and Fed Chief Bernanke has outlined some additional actions that could improve the economy.

The economy may be cooling down along with the weather, but yard sales are still hot. Millions of people are feeling the pinch of tighter budgets this year, and they are turning to yard sales as a way to free up some cash for the holiday season. Surveys show that yard sale numbers may have doubled from this time last year. There has also been a huge increase in the sales posted on sites like Craigslist. I guess people will always find creative ways to deal with tough financial times.

If you're like most people, you're probably looking for ways to save a buck or two. Well the good news is that even in these tough times, there are lots of things you can do to save money without seriously impacting your quality of life. Surprisingly, there are lots of health care choices you can make to save money without compromising quality. For starters, you can always use generic prescription drugs rather than name brands. Also make sure to be aware of any government programs you might be eligible for. You might be surprised to find you can get assistance in paying for medical costs. Being smart in these tough times can really pay off.

So I've spent a lot of time in this space talking about the host of economic troubles we're facing. While I don't want to diminish the horrible impact the economy has had on people, the optimist in me wants to point out a bright spot. With the economy in such bad shape and unemployment increasing, it looks like the calls for health care reform are growing. As people lose their jobs, and their employer-sponsored insurance, they will demand action. Companies themselves are having a tougher time affording healthcare under our current system. All the momentumthat comes with this bad economy might finally force the government to take some action and get Americans insured.

According to a recent Time Magazine article, having to postpone retirement for a few years might not be such a bad thing. When millions of Americans have spent their careers preparing for the day they could retire, there are benefits to holding onto your job for a bit longer. The country could see a big boost in the size of the economy if boomers were to stay at their jobs for a few more years. Moreover, the extra years of work could lessen the impact of the looming labor shortage resulting from retiring boomers. On a more individual level, as many as two thirds of older boomers aren't fully prepared for retirement. Working longer could help these people properly prepare for an enjoyable and secure retirement.

According to the Agriculture Department's annual study on food security, hunger rates for American children have reached there highest point since 1998. In fact, the number of children who have experienced major disruptions in their food supply increased 50% in the last year alone. In all, over 36 million Americans went hungry at some point in the last year. I know the economy is in bad shape right now, but there's no excuse for people in this country to be unable to get enough food. Just one more problem to throw on the to-do list for President-Elect Obama.

I went for my usual before work Starbucks run this morning and while I was standing in line I had a moment of pause. Do I really need a muffin? Aside from trying to be healthier, is it really worth the $1.65? Maybe I should get a grande instead of a venti?

Seems like these days every where I go I'm taking an extra moment to think about my purchases. I'm not planning my retirement, or even working toward buying a home right now...I'm just trying to make my dollar stretch a little further so I can see a movie this weekend!

Where are you feeling the pinch the most? Is it your utility bills? Or maybe at the grocery store (I feel your pain there!)? Share with us and I'll pull some of your stories up for highlights later today and tomorrow!

In the wake of harsh criticism and a growing number of headlines like this, many people are having doubts about the usefulness of 401(k)'s as a retirement savings tool. However, despite shaken consumer confidence and an unstable stock market, 401(k)'s still have their supporters. Individual retirement accounts are really the only way to prepare for retirement over the long hall and they can be the difference between affording retirement or having to keep working. Times may be tough right now, but these accounts are all we've got at the moment so we need to stick with them.

AARP sat down not too long ago to talk with U.S. Treasury Secretary Henry Paulson, where he told them rather than focusing on the second economic stimulus, his efforts were directed towards making efforts to stable world markets and the U.S. financial system. Here's some of his thoughts:

"We have not done as good a job at communicating as we should have . . . Our objective has never been to save a particular financial institution, but to serve the public interest. "Stability in the financial system is a social good. If we don't have confidence in the financial system and our markets, the people who are the losers are the American people. And the biggest losers are those who are retired and on fixed incomes and those who are working hard to make ends meet. It's a crushing burden."

Indeed it is. Make sure to check out the whole feature.

Times are tough, but governments still need money to provide us services. They also need to find ways to create jobs so people can pull themselves out of their personal economic troubles. Severe economic downturns can sometimes defy typical solutions and some folks are getting a little more creative with their ideas. In New York, Mayor Bloomberg is considering a plan that could bring in revenue and help the city go green. He is mulling over introducing a 6 cent tax on plastic bags to encourage people to adopt re-usable bags for their shopping.

A recent article in Time also suggests that one way to dig the country out of this hole would be to start a major infrastructure project. By rebuilding many of the nation's deteriorating roads, rail systems, dams and sewers, we could improve our ability to compete with other countries while creating thousands of jobs for unemployed Americans.

The economic downturn is forcing people to take a hard look at their expenditures. Shoppers across the country have been cutting back, and their grocery list seems to be one major victim. Half of people are buying fewer prepared meals at the grocery store and just under half of Americans are trying to stretch the use of household cleaning products. Also, lots of consumers are eating out less often and trying to share items like toothpaste and shampoo with family members. How have you been cutting back?

Well, a historic election has just wrapped up. While it's definitely a relief to be done with the election, it's time to turn toward actually addressing the real problems facing America. This is certainly a tough time to be taking over as President, and there will be plenty of challenges on the road ahead. For most people the biggest concern has been the economy, but just why has it gotten so bad? AARP's Chief Operating Officer Tom Nelson suggests that a lot of the problem can be traced to the skyrocketing cost of health care in America. It seems as though we will have to address health care in this country if we want any shot of repairing the economy. Let's see how our new President-elect can deal with the hand he's been dealt.

In just the latest chapter in the story of our troubled economy, the Federal Reserve agreed to provide loans to America's ailing auto industry yesterday. At this point we're all sick of hearing about another industry that needs us to bail it out of trouble, but let's take a look at what is really happening here.

The first thing to keep in mind is that American auto-makers were in a bad way long before the economy went down the tubes. We had yet to see the worst of this economic downturn when it was already becoming clear that G.M. was going to lose its claim to the title of the world's largest auto-maker to Toyota.

The frozen credit market and nose-diving stock market took a bad situation and made it that much worse. The Big Three (Chrysler, General Motors, and Ford) were largely barred from access to credit meaning they couldn't provide car loans to potential buyers. Between pre-existing problems and the new realities of the economy, even some serious penny-pinching couldn't bring profits back to Detroit.

Now thanks to this perfect storm of financial ruin, the American automotive industry has seen its life flashing before its eyes. They've gotten approval for new loans and G.M. and Chrysler are in talks of a merger. If you're wondering why you should care, here are a few stats courtesy of CNN/Money's Chris Isidore:

- 10 jobs are dependant on every 1 assembly line job;
- In all, the U.S. auto industry provides 2 million jobs;
- $25 billion in loans may be costly, but the collapse of the Big Three could cost the economy $100 billion or more.

What a mess.

One of the many reactions people tend to have in tough times is resorting to cash instead of credit. This is particularly the case when dealing with a credit crisis and a lack of liquidity in the market place. Case in point, a new survey shows that 39% of people have reduced their credit card usage. You may be wondering what the big deal is. Well for just one example, think about the damage this does to online retailers who can't take cash. Have you hid your credit cards away in favor of good old-fashioned greenbacks? Next thing you know, we might be saving our money here:

The economy continues to head in the wrong direction. In a logical response, millions of Americans are cutting back and tightening their belts to save where possible. It is certainly responsible and necessary to budget properly in difficult times. However, there are some places, health care comes to mind, where people shouldn't have to sacrifice. Recent surveys show that over a third of Americans may be postponing health care for monetary reasons. This is not only dangerous, but likely more expensive in the long-run. Putting off doctor's visits and not taking medication can aggravate medical conditions and turn a minor problem into a serious situation. Have you had to put off medical care to save money? Tell us about it and comment below.

The sickness that has spread through the economy with the speed of a pandemic has spread to the health care industry. Tightening credit markets are leaving hospitals strapped for cash. What does this mean for us? Hospitals will be delaying improvements such as new emergency rooms and updating high tech equipment such as MRI machines. Worse still, with the economy not showing any signs of turning around any time soon, hospitals will likely fall further into debt as they have an increasingly hard time collecting bills from patients.

We all knew things were bad, but this bad? Really? As personal debts mount people across the country are being forced to make some tough choices. Some folks are so desperate that they're committing insurance fraud to try and dump some debt and collect a check. One example: the number of cars suspected of being burned by their owners has nearly doubled in the last year. Just a little taste of the desperation some people are feeling as they watch their savings go down the drain.

One small bright spot coming out of the doom and gloom of economic news this week: gas prices are way down. Despite this good news, demand is still remaining uncharacteristically low here. Why? Well for starters with the national average still above $3.40 a gallon, gas isn't exactly cheap. Americans seems to be sticking with their newly learned frugal habits and the lack of demand will likely drive prices even lower. This is a good thing, especially considering how the cost of everything else seems to have gone up even as we have less money to spend. If you're looking for ways to save on gas, try these tips, or if you're really feeling desperate to save on your commute, there's always this:

So the stock market has hit its lowest levels in four years, credit is tight and home values are down. We are all starting to get accustomed to these facts, but the real-world implications for the economic slow down are just starting to reveal themselves. One of the big losers in the current economic climate is retirement savings. Even before the markets really tanked, an AARP survey showed that 20% of baby boomers had stopped contributing to their retirement savings, and a third were considering postponing retirement. It's doubtful that the swooning economy of recent weeks has done much to improve these numbers. So if your nest egg is starting to look like this:

You're not alone.

The Associated Press has a piece about how stock losses are taking a heavy toll on retirement savings:

So close and yet so far. It's a frustration being felt by Americans who thought the finish line to their working life was almost in sight.

The financial crisis that toppled major Wall Street banks and snarled credit markets around the world has also taken a toll on nest eggs, forcing people to rethink when -- and even if -- their savings will allow them to retire.

More than half of people surveyed in an Associated Press-GfK poll released Wednesday said they worry that they will have to work longer because the value of their retirement savings has declined. (Emphasis mine)

Of course this poll doesn't come as much of a surprise. The crazy thing to me is that older Americans had already begun to have second thoughts on retiring before this financial meltdown. If we were in a crisis before, what is a more adequate term for what we're in now?

So for the record, we've got a credit crisis, a housing crisis, and a gas price crisis. Well let's add another one to the list. Thanks to the huge hike in gas prices in combination with the spike in demand last winter, road salt has seen a jump in price and a dive in supply. Who cares, right? Well many states aren't going to be able to stock up on salt for the upcoming winter and are being forced to look into cheaper, but less effective alternatives. You might want to invest in a pair of snow tires, or one of these:

In the wake of the continued and ever-growing financial crisis facing the nation, AARP Public Policy Institute has released research showing that in the last six months of 2007, over 600,000 people over age 50 were either delinquent on their mortgage payments or facing foreclosure. That's over one quarter of the total number of Americans in such financial straights. Much like all Americans, those of the 50+ crowd who had sub-prime mortgages were far more likely to be affected. In addition, African-Americans and Hispanics have been disproportionately affected by the financial crisis. This research counters the commonly held belief that older Americans would be less impacted by this financial disaster. Given the increased reliance that older Americans have on their homes for both shelter and personal finances, this research is troubling to say the least. Have you had trouble paying your mortgage? Know anyone facing foreclosure? Tell us about it.

The debate goes on and on. Are we in a recession or aren't we? Well maybe we aren't in the text book definition of an economic recession, but it sure feels like we are doesn't it? It turns out that the economy is actually projected to have better than expected growth this year, and the highest growth of any of the G7 countries. So why does it still feel like we are doing so badly? Some experts believe that the problem is in our heads. A fear for job security and worries over the future can create a troubling sense of insecurity. This in turn can lead consumers to believe that things are worse off than they really are. Although we might not be doing as poorly as we think we are, it's little compensation to the thousands of people who have lost jobs or their savings.

You couldn't have missed the news yesterday as the Dow suffered its largest single-day loss since it opened following the September 11th attacks. The battered market finished more than 500 points lower than it opened. When all the carnage was done yesterday, Lehman Brothers had applied for bankruptcy, Bank of America had bought out Merrill Lynch, and serious questions remained as to whether AIG, Wachovia and Washington Mutual would be able to stay afloat. This was one of the worst days the markets have ever seen, and the US wasn't alone. Foreign markets, particularly those in Asia took hefty losses as well. Aside from the damage dealt to these corporations, many individuals and companies will now find it even harder to get loans.

Have you been touched by the financial crisis?

With the inflation raising the cost of nearly everything, the economy still stuck in the cellar, and high energy costs sticking around, Americans are really feeling the pinch. A new AARP survey gives a clearer picture of some of the ways older Americans are struggling to cope. More than half of the survey respondents making less than $50,000 a year said paying utility bills this year is harder than it was last year. 75% of people interviewed said their heating and cooling expenses were up from last year and just under 80% believe the trend will continue. Among people's biggest gripes, just 17% of respondents believe that politicians have done enough to address rising energy costs. Have your heating and cooling costs been on the rise?

Yea yea, we know, the economy is tanking. Jobs have been disappearing and now, after a couple of weeks of falling, oil prices are on the rise again. But wait, before you start sinking any further into despair, there may be hope on the horizon. For starters, jobless claims are down for the second week in a row. This may just be the start of a serious recovery in the job market. According to University of Michigan economists, the economy could add as many as 3.5 million jobs over the next two years. These jobs will largely come from an automotive industry retooling to make smaller cars, and a booming alternative energy industry. Let's hope these economists are right.

As we all struggle to deal with an economy that's trying to keep its head above water, another piece of bad news has come down the pipeline. Inflation has reached its highest rate in 17 years according to the Department of Labor. What that means for all of us is spending more on the common household items we use every day. That's another big hit on wallets that are already having to deal with job loss and a weak stock market. Some experts think that part of the problem is the media's portrayal of our economic woes. What do you think?