CNBC: Don't Worry, '$4 Gas Isn't That Big of a Deal'
In an opinion piece for CNBC.com on Wednesday, Street Signs anchor Brian Sullivan argued: "...for the majority of the country, $4 gas isn't going to doom us or our economy....right now it just doesn't add up. After all, it looks like $5 is the new $4 when it comes to gas prices and the economy." Sullivan cited new car sales being on the rise, with those vehicles having better gas mileage, and pointed to inflation causing $4 a gallon to actually be "somewhere in the $3.64 range in 2007 dollars today." In addition, he noted the payroll tax cut "mitigates much of the impact." The popular internet browser homepage MSN.com seized on Sullivan's commentary, making it a top story on the site on Wednesday, even embellishing Sullivan's original headline: "No Fuel on This Fire: $4 Gas Won't Hurt Us." In other words, "move along, nothing to see here." CLICK TO READ MORE
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