Detailed text transcripts for TV channel - MSNBC - 20120303:17:55:00
Economy, as we look at how much it costs to fill up the tank, what does this mean? >> yes, every penny cent increase in gas has caused $1 billion in discretionary spending and since we're talking about a 66-cent increase since the middle of december, that is $66 billion a day because when gas prices go up we are forced to cut back at the restaurants and the hotels and the bars and whatever the case may be. i can imagine that we'll hit the demand destruction point where people are saying enough already and they'll be looking at mass transit and banking and walking. it's scary this early in the ...
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