Americans Curtail Spending, Blame Bush as Gas Prices Surge, Survey Finds

[chat_noir]

June 26 (Bloomberg) -- Most Americans say they are feeling the pain from rising gasoline prices and many are tightening their belts in response, a Bloomberg/Los Angeles Times survey shows.

``It costs me double to fill up the tank,'' says J.L. Harder, a 75-year-old retiree and poll respondent in Peoria, Texas. ``We don't go on vacation and don't visit the relatives.''

He isn't alone. Seven in 10 of those surveyed say higher gas prices have caused them ``financial hardship.'' More than 1 in 3 respondents say they have cut back on their spending over the last six months as oil and food prices surged and unemployment rose.

snip

Oil Prices

Poll respondents pin most of the blame for the 35 percent surge in gas prices over the last year on President George W. Bush, according to the poll. Almost 3 in 10 singled out Bush as the one responsible, followed by the oil companies, identified by 25 percent, and speculators, by 13 percent. Only 9 percent blamed foreign oil producers and the Organization of the Petroleum Exporting Countries.

http://www.bloomberg.com/apps/news?pid=20601070&sid=aTloxVUXKB0A&refer=home

[cliss]

1. Well they both got

what they wanted.

Case closed.

[cascadiance]

2. You know Laura Flanders had some interesting talk on the economy the other day...

And not only did her panel point out the growing gap between rich and poor and the many issues surrounding that, they also noted that as the rich get richer, it leads to MORE speculation that is MORE damaging to the economy, as many segments are overpriced (not just gasoline), than they should be just because the rich have more money to burn and can take more risks when the rest of us don't have enough to pay debts or do much else with what we have (or don't have). When we have to compete with the speculators every place (whether it be housing, gas, or many other similar expenses), WE pay for their "games" by having to invest, etc. in a more volatile market due to their games. We can't afford to lose our investments the way they can when they are grabbing all of the dough now!

Just one more reason why we need to soon RETURN to the top marginal tax rates of 80-90%!!!

[carlyhippy]

3. I'll bet that gas prices drop some just before the election

it will be a race as to which party gets the prices down first, I can see this.