In this economy...

The New York Times had an article a few days ago about "The New Poor." (I'm a bit behind in my NYTimes reading due to a busy social schedule this week.) The article is quite depressing, but it's most poignant statement comes right at the beginning:

"Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come."

With millions of people unemployed, including some of my friends, it is more than painful to think what their lives will be like if they do not find employment soon. I'm not economist, and I don't pretend to be, but I think most people live within their means, and many people live above their means. It's not their fault, it's simple economics: Person A is getting paid X dollars. Person A have a life-style with what X dollars allows them to. If they decide to abuse credit cards, they can live above their means, but knowing that they have credit to pay off (usually, at exhorbitantly high interest rates). Once X is taken away from them, how much can they really cut back? Sure, the cable, the internet, the Netflix can all be tossed, and maybe move to a cheaper apartment or perhaps even sell that house. (Good luck with that.) But, at some point, they've cut back all they can, or the house can't be sold, and then what? You still have the bills to pay, but with either little or no income. At some point, something will snap.

The NY Times article goes on to say that the economy needs "100,000 new jobs a month just to absorb entrants to the labor force. With more than 15 million people officially jobless, even a vigorous recovery is likely to leave an enormous number out of work for years."

My dad, and a very intelligent friend, told me that getting an education will always be the answer. No one can ever take an education away from you, and my friend went on to say that the degree is always more valuable than the expense to get it. Perhaps that's true. However, what do I say to my unemployed friends who I went to law school with?  How did I manage to get a job and keep it for the past year or so, and they managed to lose theirs, often when they had better grades and more experience than I did? I definitely do not regret going to law school; I think it's the only reason I have a job right now. Sure, I might be riddled with debt, but I have to believe that all that debt will be worth it. In some regard, it has already been worth it.

I sincerely hope that the economy recovers quickly. I'm certainly tired of hearing "in this economy..." and having to accept the premise that follows. I'm tired of accepting a bad econonmy. Yes, I'm glad I have a job and enough breathing room to have a little fun, but enough is enough.

And if anyone is reading this and wants to make a quick buck, I'm looking for someone who can show me how to make my own website. For your knowledge, I will reward you in money.