Friday, February 29, 2008

TGIF Countdown: Managing gas prices by making tax cuts for the rich permanent

Just 326 days and George Bush will no longer be able to wrap himself in the prestige of the White House when promoting such screwball economic ideas as making gasline more affordable by making his tax cuts for the rich permanent.

Since tax cuts are Bush's answer for everything, it should come as no surprise that they sprang to mind when he was informed that gas prices might hit $4.00 a gallon this spring.
President Bush, saying he was unaware of predictions of $4-a-gallon gasoline in the coming months, told reporters Thursday that the best way to help Americans fend off high prices is for Congress to make his first-term tax cuts permanent.

"If you're out there wondering... what your life is going to be like, and you're looking at $4 a gallon, that's uncertain," Bush responded to a question posed at a White House news conference. "And when you couple that with the idea that... taxes may be going up in a couple years, that's double uncertainty."

Analysts have said that gasoline could reach $4 a gallon by this spring, due to strong demand and a change in formulation, among other reasons.

When taking the question about the $4 milestone, Bush told the reporter, "That's interesting. I hadn't heard that."
Add that to a long list of things he hasn't heard. Jan. 20, 2008 can't come soon enough.

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