I never said that was the ONLY reason we are in this situation, but it is a big part of it. Why do you think all the sudden people we living "outside their means"? A lot of that has to do with money going somewhere else other than what it SHOULD goto. Gas is one of those things. My big thing is, why did we give the banks that caused a lot of this problem 700B in money, but can't give a very small fraction of that to the auto industry that needs it as well? If you think gas has no effect on the economy, then you havn't paid much attention to the price of products. Prices for the things we buy have gone up, no doubt about it. Now, is it the only thing that caused this big mess? Of course not, like the man said, it was the perfect storm. I just hope the industry makes it out and better than ever!
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Originally Posted by HeatherR
Our country's current financial situation is due to more than the rise in gas prices....Too many Americans were living way beyond their means for too long. Mortgages taken out that could not be repaid, 2nd mortgages on inflated housing prices to further a lifestyle that was beyond their means, etc. A complete lapse in regulations that should have prevented this. A tax would impact pricing of other things, but not in such a way that it would start a meltdown like we are experiencing now.
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