Recession? What Recession?

In a front page story for this Sundays edition of Newsday, Randi Marshall pens an article describing a possible economic recession for the Nation; specifically the repercussions for Long Island small business. She writes:

“Locally and nationally, the economic picture has darkened considerably in the last month, with perhaps worse news about employment and home prices still to come. Recent government statistics and other data have fueled fears of a recession — defined as two quarters in a row of negative growth — among some economists.”

The article itself is broken down into several sub sections each discussing whats its like to run a small business on Long Island, the high cost of housing and if the fear of a recession is even justified. It is a nice general article which helps serve as a great resource for my introductory post since it highlights a political issue which Long Islanders have been dealing with for a long time.

However, on a disparaging note, there is no mention of any government intervention or any other solution to help sort through this dollar and cent nightmare.

My suggestion:

Long Islands property taxes currently rank close to the nations highest. Perhaps some of the local politicians should consider tax breaks for small business owners as well as the general public. Get the money out of of the hands of public policy makers and into that of the commonwealth. Perhaps Long Islanders can buy themselves out this potential economic pitfall.