We may have real reasons to be hopeful for a better fiscal year in 2009. Read up on MSN’s top 5 reasons to believe we’re heading in the right direction:

1. Oil Prices Are Dropping. Those gas prices are going down and keeping more of your cash in your pocket. A JPMorgan Chase economist estimates the drop in oil prices represents “a boost equivalent to a $350 billion stimulus,” which could boost GDP by as much as 2 percentage points.
2. Mortgage Rates Are Sinking. Rates for a 30-year fixed mortgage fell to a low 5.9 percent—thanks in part to the Fed’s promise to purchase mortgage securities. This will likely help open up affordable housing and give current homeowners a chance to refinance. In the works: the Treasury is reportedly pondering a plan to drop mortgage rates as low as 4.5 percent for new homeowners.
3. The Fed Has Stepped In. The Fed is in overdrive as it does whatever it can to strengthen the economy by adding liquidity to the system. It’s pushed short-term interest rates to almost 0 percent and said it will buy debt securities in an effort to unfreeze credit lines. This means for next year, you’ll likely be paying a lot less for your borrowing.
4. Obama Will Be President. Over the next two years, it appears that Obama and the new Congress will spend between $750 billion and $1 trillion to boost the slumping economy. These injections will caffeinate the markets and likely create new jobs. We'll also probably be looking at tax cuts for the middle-class.
5. We’re America. America is flexible and innovative--we'll get through these tough times and become stronger because of them. The article argues that the core economy is far stronger than it was in the ‘70s thanks to higher productivity and better tax and regulatory practices.

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Tags: bankruptcy, debt, economy