Home The New Economy Squandering the Stimulus
Wednesday, July 16,2008
“Unless we make it easier to drive less, Wisconsin families will be stuck in neutral as they spend more and more at the pump.”
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Squandering the Stimulus
Plus Definition of the Week: Credit Crunch
How
did you spend your stimulus check? If you’re like most Americans, you
bought gasoline. Since President Bush signed the tax rebate into law
Feb. 13, the average household has spent $1,500 filling the family car,
according to research by Wisconsin Public Interest Research Group
(WISPIRG).
According to the analysis, since February the
average cost for gasoline per household has gone from just more than
$60 weekly to almost $100 per week. “If Congress wants to do something
long term about high gas prices, it will give people more alternatives
to driving,” said Hailey Witt, WISPIRG campaign coordinator, in a
statement.
“Unless we make it easier to drive less, Wisconsin families will be stuck in neutral as they spend more and more at the pump.”
To find a map with the best gas prices in the Milwaukee area, go to www.expressmilwaukee.com.
Definition of the Week
Credit crunch: When
banks suddenly stop lending, or bond market liquidity evaporates,
usually because creditors have become extremely risk averse. (Source:
economist.com.)
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