Deficit, Energy, and Employment Predictions

These predictions come straight from the government.

The Budget and Economic Outlook: Fiscal Years 2009 to 2019 (pdf)

High deficits in the near term may be inevitable in the face of the financial crisis and severe economic weakness, However, once the nation gets past this downturn, it will still face significant fiscal challenges posed by rising health care costs and the aging of the population. Continued large deficits and the resulting increases in federal debt over time would probably constrain long-term economic growth by reducing national savings and investment, which in turn would cause productivity and wage growth to gradually slow.

EIA: Short-Term Energy Outlook

The worsening global economy and a weak oil consumption outlook are keeping the world oil market well supplied, despite two downward revisions in production targets by the Organization of the Petroleum Exporting Countries (OPEC) within the past few months.

BLS: Retail Salespersons

Employment is expected to grow by 12 percent over the 2006-16 decade, which is about as fast as the average for all occupations. In fact, due to the size of this occupation, retail salespersons will have one of the largest numbers of new jobs arise, about 557,000 over the projections decade. This growth reflects rising retail sales stemming from a growing population. Many retail establishments will continue to expand in size and number, leading to new retail sales positions.

BLS: Chefs, Cooks, and Food Preparation Workers

Employment of chefs, cooks, and food preparation workers is expected to increase by 11 percent over the 2006-16 decade, which is about as fast as the average for all occupations. This occupation will have among the largest numbers of new jobs arise, about 351,000 over the period. Growth will be spurred by increases in population, household income, and demand for convenience that will lead to more people dining out and taking vacations that include hotel stays and restaurant visits.

BLS: Loan Officers

Employment of loan officers is projected to increase 11 percent between 2006 and 2016, which is about as fast as the the average for all occupations. Employment growth stemming from economic expansion and population increases—factors that generate demand for loans—will be partially offset by increased automation that speeds the lending process and by the growing use of the Internet to apply for and obtain loans.

Here's a summary.

Many retail establishments will continue to expand in size and number despite the financial crisis and severe economic weakness. As household incomes rise, despite slowing wage growth brought on by increases in the federal debt over time, more cooks will be needed as we continue to visit restaurants and take vacations. The economic expansion will require an ever increasing number of loan officers as we continue to reduce national savings and investment. And lastly, the world oil market will be well supplied as long as the global economy continues to worsen.

I don't know about you, but I feel much better already.