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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (66485)2/23/2012 9:11:01 PM
From: Hope Praytochange  Read Replies (1) of 103300
 
Those higher prices could hurt consumer spending and unravel some of the recent improvements in the economy. And they could also be a daily reminder to voters to question Obama's contention that he's making the nation — and them — more secure.

While motorists are already starting to complain, many economists see the $4-a-gallon mark as a breaking point above which the economy starts to suffer real pain. Analysts estimate that every one-cent increase is roughly a $1.4 billon drain on the economy.

his negative rating on handling gas prices is stagnant. Just 39 percent approve of what he's doing there, and 58 percent disapprove, according to the new AP-GFK survey.

Mark Zandi, chief economist at Moody's Analytics, said gasoline prices are likely to keep rising as the summer driving season approaches. "Increasingly, it's becoming the biggest threat to the economy," he said. "And there is little presidents can do to influence gasoline prices in the near term."

Some lawmakers have called for Obama to release oil from the nation's Strategic Petroleum Reserve. "Rising gas prices could be the difference between an economy that continues to recover and an economy that sinks back into recession," said Rep. Edward Markey, D-Mass., among those calling for such a move.
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