In less than three weeks, the prices at my local gas station have gone up fifty cents a gallon. This morning, a number of media sources were reporting four and even five dollar a gallon gas is coming. Given the rate gas prices have been increasing over the last couple of weeks that is going to be here sooner, not later.
With that staggering increase in gas prices, comes the ripple effect. Everything we consume is going to become more expensive because of the cost of fuel. This will include everything from food to clothing to durable goods; such was computers and washing machines. With Americans having to cut even more of their discretionary income to pay for fuel, we will see yet more Americans out of work and even more disruption to a soft economy.
I suppose I could note that the drive-by media is not all over their President, like they were over George W. Bush. I could also note that Obama wants higher gas prices. He said as much. High gas prices will help destroy the American economy, which is one of his goals.
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