Why low prices at the pump aren’t necessarily good
Here’s an official statement from the President of the United States — via Twitter, that is: “Gas prices are the lowest in the U.S. in over ten years! I would like to see them go even lower.” In the past decade, by the way, gas prices have been lower than they are now. But they are unquestionably low, hoping for a further fall seems like a perfectly reasonable, even patriotic sentiment. Who doesn’t like cheap gas? But for the overall economy, the picture is a little more complicated.
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