Are we in a recession? It depends on your perspective. Warren Buffett says yes. George Bush says no. Both men are rich and powerful.

But if you're like the rest of us, and you're not rich and powerful, then it sure feels like a recession. We have the highest gas prices ever - driven by record crude oil prices - and that has driven the cost of most food items by 50% or more in the last 6 months. What's more, as Bruce Springsteen said about the manufacturing industry, "these jobs are going, boys, and they ain't coming back".

If it looks like a recession and it feels like a recession, then it's a recession. And it's going to get a lot worse before it gets better. The economy is being bailed out left and right, and for you and I there isn't a lot of bailing out going on.

So over the last year I've done some drastic expense cutting to be able to make it through the lean times. And I've made it just fine. And it was a lot harder for my family than it was for me. But now we're fine, and everyone is productive, and used to living with less. It's the only way we can survive this economess.