Detailed text transcripts for TV channel - CNN - 20110417:19:31:00
Why is not that petronoia that john was just talking about? >> there's a difference between how high the price of gas will be and what it actually does if it stays high. if it stays high, most economists are predicting 2.8% growth instead of 3.44 for the first half of this year. that translates into a loss of about 500,000 jobs that just don't get created. if they don't stay to buy restaurant meals or get your clothes cleaned, people spend less money on non-necessities. if it goes up past 4, 4 and a quarter, then growth could fall 2.5%. at that point it's hard to sustain the economy and things...
Source: news source