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White House urges US consumers to spend
Published: Thursday March 13, 2008
HOW CAN I SPEND WHEN ALL MY EXTRA MONEY IS GOING TO COVER THE RISE OF COST OF GASOLINE? THEY ARE GIVING ME MONEY??? HMMM THINK THAT WOULD BE MY MONEY IN THE FIRST PLACE!!!! NOW IT IS GOING TO GET TAXED AGAIN! CAN SOMEONE FIGURE OUT HOW MUCH THAT DOLLAR IS NOW WORTH AFTER BEING TAXED TWICE? NOW FOLLOW ME HERE I fill up once a week two cars so that is estimate 40 gallons. Times 40 gallons bye 52 weeks gives me 2080 gallons. Now last year at this time I was paying $2.75 for the good stuff and today $3.50. So that is a .75 cent different. Okay now 2080 gallons times .75 cents that should give me yep $1560 right about the $1600 mark they are stealing from me and giving back to me so I can give it back to the oil companys..............:bang: What am I missing here? :boog:
The White House, buffeted by a stronger than expected drop in monthly US retail sales, urged US consumers Thursday to shop and said they should be confident in long-term US economic health.
"We do want to see the consumer spend, and that's one of the reasons for the rebate checks," spokesman Tony Fratto said, referring to a key component of a stimulus package valued at 152 billion for 2008 and 16 billion next year.
"The big message is that you can have confidence in the long-term future of our economy," Fratto told reporters amid growing fears that the world's wealthiest country may be facing a recession.
He spoke after the US Commerce Department reported that US retail sales fell an unexpected 0.6 percent in February from the prior month as consumers coped with rising oil and food prices.
Core retail sales, excluding auto sales, dipped by 0.2 percent, the Commerce Department said.
The 0.6 percent fall was far worse than analysts' consensus forecasts of a 0.2 percent decline in both indicators.
With consumer spending the main engine of the US economy, the February report showing Americans were closing their wallets heightened concerns the world's biggest economy is falling into, or already is in, recession.
The White House has refused to use what US President George W. Bush called "the 'R' word" in an interview Wednesday, and Fratto said that he expected the US economy to show signs of strength later this year.
"We are going to see the benefits of the tax relief and the economic growth package coming on line. The Federal Reserve is taking measures that would allow growth to return to the economy," he said.
"So we want to let that have the impact that we expect it will have, and if it does I think we'll see economic growth and job growth return -- and we would expect the consumer to return also," said Fratto.
Published: Thursday March 13, 2008
HOW CAN I SPEND WHEN ALL MY EXTRA MONEY IS GOING TO COVER THE RISE OF COST OF GASOLINE? THEY ARE GIVING ME MONEY??? HMMM THINK THAT WOULD BE MY MONEY IN THE FIRST PLACE!!!! NOW IT IS GOING TO GET TAXED AGAIN! CAN SOMEONE FIGURE OUT HOW MUCH THAT DOLLAR IS NOW WORTH AFTER BEING TAXED TWICE? NOW FOLLOW ME HERE I fill up once a week two cars so that is estimate 40 gallons. Times 40 gallons bye 52 weeks gives me 2080 gallons. Now last year at this time I was paying $2.75 for the good stuff and today $3.50. So that is a .75 cent different. Okay now 2080 gallons times .75 cents that should give me yep $1560 right about the $1600 mark they are stealing from me and giving back to me so I can give it back to the oil companys..............:bang: What am I missing here? :boog:
The White House, buffeted by a stronger than expected drop in monthly US retail sales, urged US consumers Thursday to shop and said they should be confident in long-term US economic health.
"We do want to see the consumer spend, and that's one of the reasons for the rebate checks," spokesman Tony Fratto said, referring to a key component of a stimulus package valued at 152 billion for 2008 and 16 billion next year.
"The big message is that you can have confidence in the long-term future of our economy," Fratto told reporters amid growing fears that the world's wealthiest country may be facing a recession.
He spoke after the US Commerce Department reported that US retail sales fell an unexpected 0.6 percent in February from the prior month as consumers coped with rising oil and food prices.
Core retail sales, excluding auto sales, dipped by 0.2 percent, the Commerce Department said.
The 0.6 percent fall was far worse than analysts' consensus forecasts of a 0.2 percent decline in both indicators.
With consumer spending the main engine of the US economy, the February report showing Americans were closing their wallets heightened concerns the world's biggest economy is falling into, or already is in, recession.
The White House has refused to use what US President George W. Bush called "the 'R' word" in an interview Wednesday, and Fratto said that he expected the US economy to show signs of strength later this year.
"We are going to see the benefits of the tax relief and the economic growth package coming on line. The Federal Reserve is taking measures that would allow growth to return to the economy," he said.
"So we want to let that have the impact that we expect it will have, and if it does I think we'll see economic growth and job growth return -- and we would expect the consumer to return also," said Fratto.
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