Thursday, May 31, 2007

A little perspective on gas prices

What to do about — choose the adjective — "spiraling," "skyrocketing," "out-of-control" gas prices?

Well, we could try a little perspective. In 1981, Americans spent 5 percent of their household budget on gas and oil. Last year, despite "skyrocketing" gas prices, Americans spent 3.8 percent.

Fascinating if true. I don't have access to the old data, but it does seem like a reasonable set of assertions that this man is making.

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