How worried are you about the impending recession? Is the economy as bad as the media says, or is it hyped up too much? Can we trust the government to steer us out of it?

I'm being more careful about what I spend these days. With the rise in food and fuel prices, I'm sure that this is what many people are doing, regardless of whether or not we're thinking about wider economic trends.
I think it's healthy that various governments seem to be pooling ideas about what to do about the global economy. I don't remember the same happening during the last recession of the early '90s. However, I'm cynical about Gordon Brown's ability to steer us through, after he took all the credit for the relatively healthy economy we've had up until recently.