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Tuesday, February 21, 2012

Obama: Use Payroll Tax Cut To Buy Gasoline

President (Kill the Keystone) Obama has found a new use for the payroll tax cut. "It means $40 extra in their paycheck, and that $40 helps to pay the rent, the groceries, the rising cost of gas — which is on a lot of people's minds right now,"

Possibly worse for Obama than the fuming at the pump will the economic effect of high gasoline prices. As gas prices rise, drivers tend to limit their travel. No casual trips to Sam's club just to look around, one trip to the grocery each week, no trips to Walmart or Best Buy unless they are planned. As oil prices rise watch the retail sales figures drop. Sustained high gasoline prices will tank the economy again and when Obama killed the Keystone pipeline he "took ownership" of gasoline prices.

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