Photo: Patrick McMullan

The Bad News: The Dow closed today down 250.89 points at 7114.78, its lowest close since 1997.
The Good News: Wait, what was so bad about 1997? We had the Spice Girls, the "Yo Quiero Taco Bell" Chihuahua, and Titanic. 1997 ruled!

The Bad News: New York has a budget deficit of $15 billion, and Governor Paterson has proposed $9 billion of harsh cuts in education, health care, and social services, plus $5 billion in new taxes that, according to the Nation, would hit the struggling poor and middle class the hardest.
The Good News: If we had more citizens like Nicki Hilton, we might need fewer cops! This weekend, according to Us Weekly, when Nicki was dining at IHOP (she's a recessionista!), a 50-year-old homeless person "came up behind Ms. Hilton and pushed her. She's OK, but she was desirous of prosecution. She said, 'I am placing you under citizen's arrest!'" Let that be an inspiration to us all.