Detailed text transcripts for TV channel - MSNBC - 20110304:17:06:00
You have less money to spend on everything else. when you look at the jobs report, what you actually saw was that incomes were flat. they didn't increase, which means that people don't have the extra money to pay for the increased gasoline cost. i was talking with one economist who put it like this. when you're looking at this kind of gasoline price, just where it is right now, the national average, you're talking about on an annualized basis, $48 billion less of power for consumer spending. well, we all know this economy is dependent on the consumer. two-thirds of the economy is the consumer....
Source: news source