DUDE, WHERE’S MY RECESSION? (CONT’D): “U.S. unemployment lines got shorter last week, as the number of people filing for the first time for unemployment benefits fell by 18,000 to 365,000 on a seasonally adjusted basis in the week ended May 3, the Labor Department reported Thursday.” Somewhat related item here.

UPDATE: In my backyard? This is more a problem of overspending — we were running huge surpluses a couple of years ago, and the state budgeted up to them instead of socking the money away as some suggested — than of recession. Unemployment in Knox County, where I live, is at just over 4%. Also, I think we’re starting to see the usual budgetary posturing used by second-term governors in Tennessee who want a state income tax. We had the same thing under Gov. Don Sundquist.

[LATER: “Backyard” link above was wrong before. Fixed now. Sorry!]