December 19, 2009

As the tumultuous year of 2009 draws to a close, it long may be remembered as a memorable year reflecting on the transformational president who assumed office on Jan. 20.President Barack Obama was not called on to deliver a formal state of the union address, and that's probably a good thing. The nation's economy was mired in a deep recession with markets tumbling and unemployment climbing. Many economists said we stood on the precipice of a major depression.

At year's end, we see a glimmer of better times, but we're a long way from prosperity. Unemployment stands at 10 percent and millions more are underemployed by working in jobs below their training and skill levels. Yet with bills to pay, children to rear and mortgages due, any paycheck is better than none at all.On Main Street, business owners are finding credit hard to come by. Many banks, including a few that received federal bailout funds, are sitting on piles of cash to protect their balance sheets.