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High Oil, Gasoline Costs To Erase Economic Stimulus Package
washingtonpost.com — On the eve of President Bush's visit to Saudi Arabia, crude oil prices set a record for the fifth day in a row last Friday, eating into tax rebates being mailed to U.S. households and prompting FedEx to slash its quarterly earnings forecast by $100 million because of rising fuel costs.
cxrfreeman- 62 diggs
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- AlwaysAwake, on 05/12/2008, -0/+7More smoke and mirrors to keep the relentlessly hopeful, gullible sheeple from rising up together to demand accountability from our public "dis-servants'. When will we realize that One +One= A Bigger One, and act together, instead of fighting among ourselves over petty superficial differences ????
- dupswapdrop, on 05/12/2008, -0/+2Vote them all out don't reelect anyone who's in office until the wars over and gas is $1 a gallon!
- Y0tsuya, on 05/12/2008, -1/+4It's basically a scheme to divert $120B of taxpayer money to fund corporate welfare.
- Hockey13, on 05/12/2008, -0/+4The logic here doesn't make too much sense. It assumes that the "stimulus" package would provide a real stimulus to the economy, when in fact the money is coming straight off the printing presses, not from our already long-squandered tax dollars. The rise in heating oil and gasoline costs are partly attributable to massive increases in demand while supply has remained relatively constant (and the war hasn't helped that), the loss of the value of the dollar, and inflation fears that are spurred on by the Federal Reserve continuously cutting interest rates (thereby letting the printing presses run on full steam).
So we have to ask ourselves: why are we printing more money in order to solve a problem caused, in part, by printing money. - jaymzdean, on 05/13/2008, -0/+3The most effective redistribution of wealth in the history of the United States.
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