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Rising gas prices crimp Americans' spending

EnidNews -- WASHINGTON — Higher gas prices are crimping consumer spending and slowing the already-weak U.S. economy. And they could get worse in the coming months.

The Federal Reserve this week took steps to boost economic growth. But those stimulus measures are also pushing oil prices up. If gas prices follow, consumers will have less money to spend elsewhere.

The impact of the Fed's actions "is likely to weigh on the value of the U.S. dollar and lift commodity prices," said Joseph Carson, U.S. economist at AllianceBernstein. "We would not be surprised if (it) fueled more inflation in coming months, squeezing the real income of U.S. workers."

Americans are already feeling pinched by high unemployment, slow wage growth and higher gas prices.

Consumers increased their spending at retail

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Submitted Sep 16, 2012 By: aservant

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Sep 22, 2012 1:43:41 AM Ignore honda0105 Report Abuse MrL: good ideas, too bad, they won't ever be put into place (neither party, not just one or the other will do what it takes to get to a better economy).
MrLefty0706 Champion Author Chicago Posts:1,590 Points:379,760 Joined:Apr 2012	Message Posted: Sep 17, 2012 11:33:47 AM Ignore MrLefty0706 Report Abuse In order to increase comsumption of goods we must have a reduction in unemployment. Wage increases should remain modest so that inflation does not take off.
07skydriver Champion Author Ohio Posts:3,379 Points:1,010,280 Joined:Feb 2009	Message Posted: Sep 17, 2012 6:40:30 AM Ignore 07skydriver Report Abuse If consumers stop buying crap they don't really NEED then they might be able to put their cars in the garage.
clpassenubye Champion Author Los Angeles Posts:3,374 Points:776,930 Joined:Mar 2011	Message Posted: Sep 17, 2012 12:39:14 AM Ignore clpassenubye Report Abuse obvious
rcornel All-Star Author San Diego Posts:804 Points:251,095 Joined:Jun 2012	Message Posted: Sep 17, 2012 12:23:50 AM Ignore rcornel Report Abuse No joke!
SHEP20715 Champion Author Maryland Posts:8,617 Points:1,743,030 Joined:Nov 2007	Message Posted: Sep 17, 2012 12:14:49 AM Ignore SHEP20715 Report Abuse No surprise here
12766 Champion Author New York Posts:2,584 Points:1,511,115 Joined:Oct 2008	Message Posted: Sep 17, 2012 12:10:47 AM Ignore 12766 Report Abuse OK
ciimike Champion Author Nevada Posts:4,638 Points:1,069,560 Joined:Aug 2005	Message Posted: Sep 16, 2012 11:50:15 PM Ignore ciimike Report Abuse Any surprise here? Gas prices may be rising, but unless you work for the oil or fuel companies directly, the salaries are staying the same or lowering still.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Sep 16, 2012 11:49:16 PM Ignore frostyWV Report Abuse crimping us to death.
TFowler513 Champion Author Memphis Posts:3,824 Points:1,438,010 Joined:Mar 2008	Message Posted: Sep 16, 2012 11:45:36 PM Ignore TFowler513 Report Abuse High gas prices and underemployment is a poor combination.
DJRIO Champion Author Miami Posts:8,186 Points:1,453,285 Joined:Jan 2008	Message Posted: Sep 16, 2012 11:42:04 PM Ignore DJRIO Report Abuse devaluing the dollar causes hyperinflation. all because government doesnt take care of fiscal policy and the budget.
rawdog1313 Champion Author Lexington Posts:3,444 Points:1,671,480 Joined:May 2008	Message Posted: Sep 16, 2012 11:36:41 PM Ignore rawdog1313 Report Abuse Yeah, just wait till Mitt the Twit gets in there...Yeah, he'll fix it ..Bahahahahhahhahahhahahha!
Dragnet Champion Author Arizona Posts:15,553 Points:2,935,485 Joined:Jul 2004	Message Posted: Sep 16, 2012 11:36:38 PM Ignore Dragnet Report Abuse Oil czars and the politicians think the public is totally stupid and they we will believe all their lies. It's bad enough we have the chief of liars in the WH and he wants our vote. Not in this life time. The oil clown are as stupid and liars as the liar politicians. All they want is to line their pockets with more profits from us. What a bunch of CRAP!
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Sep 16, 2012 11:33:33 PM Ignore pastorpaulcg Report Abuse QE3
Grumpy0521 Champion Author Ontario Posts:2,239 Points:779,210 Joined:Dec 2008	Message Posted: Sep 16, 2012 11:31:14 PM Ignore Grumpy0521 Report Abuse And it's having a boomerang effect on the economy.
sprocketsplines Champion Author Washington Posts:1,818 Points:889,035 Joined:Oct 2010	Message Posted: Sep 16, 2012 11:29:54 PM Ignore sprocketsplines Report Abuse Consumers must feel like they're becoming puppets of the oil masters.
Rageagainsttm Champion Author Tampa Posts:8,427 Points:1,928,860 Joined:Jul 2007	Message Posted: Sep 16, 2012 11:29:08 PM Ignore Rageagainsttm Report Abuse yea
jodybull All-Star Author El Paso Posts:767 Points:140,880 Joined:May 2012	Message Posted: Sep 16, 2012 11:28:59 PM Ignore jodybull Report Abuse Americans waste! That's it, bottom line. Maybe this so-called "crimping" is a good thing to make Americans get real and only buy what they need, and save the rest.
joel27nc Champion Author Raleigh Posts:10,677 Points:1,886,070 Joined:Mar 2008	Message Posted: Sep 16, 2012 11:28:51 PM Ignore joel27nc Report Abuse It's called inflation.
bridgerunner Champion Author Virginia Posts:4,927 Points:1,034,535 Joined:Jul 2009	Message Posted: Sep 16, 2012 11:26:19 PM Ignore bridgerunner Report Abuse Crimping is a kind description.
mpg611 Champion Author Cleveland Posts:2,484 Points:597,770 Joined:Apr 2011	Message Posted: Sep 16, 2012 11:25:49 PM Ignore mpg611 Report Abuse Well if this doesnt show that electing a President based on pointless social, cultural and religious issues DOESNT WORK then..........good luck.
Focus2 Champion Author Illinois Posts:7,910 Points:1,928,475 Joined:Mar 2006	Message Posted: Sep 16, 2012 11:23:25 PM Ignore Focus2 Report Abuse High gas prices during the Bush administration is what brought us into a recession two years before the banks went bust. We couldn't afford to spend with over $3 a gallon gas then finally over $4.
RangerTrainer Champion Author Ottawa Posts:2,598 Points:637,145 Joined:Nov 2010	Message Posted: Sep 16, 2012 11:22:35 PM Ignore RangerTrainer Report Abuse Times are tough and prices aren't dropping here.
1fulltank Champion Author Buffalo Posts:8,041 Points:1,571,970 Joined:Nov 2008	Message Posted: Sep 16, 2012 11:22:01 PM Ignore 1fulltank Report Abuse ...worse than it already is.
Dodge_Me Champion Author Atlanta Posts:2,214 Points:576,480 Joined:Mar 2006	Message Posted: Sep 16, 2012 11:20:59 PM Ignore Dodge_Me Report Abuse At least prices are falling
10k Champion Author North Carolina Posts:21,494 Points:2,282,695 Joined:May 2006	Message Posted: Sep 16, 2012 11:17:20 PM Ignore 10k Report Abuse what spending ??..we unemployed people only buy what we need to survive..
LilRedWagonIN Champion Author Indiana Posts:7,912 Points:1,581,110 Joined:Oct 2008	Message Posted: Sep 16, 2012 11:16:46 PM Ignore LilRedWagonIN Report Abuse Not crimping; but rather strangling to death. The Fed looks at the economy from an academic perspective or through a political lens, not on real world effects on the common man.
Number43 Champion Author Lexington Posts:8,849 Points:1,665,870 Joined:Oct 2008	Message Posted: Sep 16, 2012 11:15:29 PM Ignore Number43 Report Abuse How is this a surprise?
jem069 Champion Author Detroit Posts:2,684 Points:715,755 Joined:Jan 2011	Message Posted: Sep 16, 2012 11:15:00 PM Ignore jem069 Report Abuse Ok
rtw777 Champion Author Florida Posts:9,536 Points:1,869,695 Joined:Jan 2008	Message Posted: Sep 16, 2012 11:14:51 PM Ignore rtw777 Report Abuse Everything is going up except wages.
CocoPaz Champion Author Santa Barbara Posts:2,517 Points:350,870 Joined:Jun 2012	Message Posted: Sep 16, 2012 11:13:33 PM Ignore CocoPaz Report Abuse c'est vrai. (that is true)
CivicMA Champion Author Boston Posts:2,040 Points:563,470 Joined:Jun 2011	Message Posted: Sep 16, 2012 11:13:09 PM Ignore CivicMA Report Abuse Well since you can only spend the same dollar in one place/time, you might think gas prices may have an impact! We aren't allowed to mint our own money in the basement like the Feds do! Gov't inaction won't help any either.
Bigwaynef Champion Author South Carolina Posts:11,681 Points:2,109,410 Joined:Dec 2006	Message Posted: Sep 16, 2012 11:11:36 PM Ignore Bigwaynef Report Abuse Owebama says it's Bush's fault...
7SPEEDY7 Champion Author Flint Posts:1,426 Points:633,900 Joined:May 2011	Message Posted: Sep 16, 2012 11:09:58 PM Ignore 7SPEEDY7 Report Abuse Ya Think!!
tpguess Champion Author San Diego Posts:1,696 Points:395,160 Joined:Jan 2012	Message Posted: Sep 16, 2012 11:09:54 PM Ignore tpguess Report Abuse And... my President cares
crreed1 Champion Author West Virginia Posts:2,105 Points:2,551,690 Joined:May 2005	Message Posted: Sep 16, 2012 11:09:51 PM Ignore crreed1 Report Abuse old news
Hi1 Champion Author Ontario Posts:5,000 Points:1,753,285 Joined:Jun 2007	Message Posted: Sep 16, 2012 11:08:51 PM Ignore Hi1 Report Abuse Not good.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Sep 16, 2012 11:08:21 PM Ignore tedjm1 Report Abuse Worse for those on fixed income.
cwashi3324 Champion Author Cincinnati Posts:2,863 Points:587,720 Joined:May 2009	Message Posted: Sep 16, 2012 11:08:11 PM Ignore cwashi3324 Report Abuse No kidding!
rahcat Champion Author Grand Rapids Posts:2,700 Points:690,875 Joined:Jan 2010	Message Posted: Sep 16, 2012 11:07:39 PM Ignore rahcat Report Abuse No really? Surely you jest.
Rooster922 Champion Author Wilmington Posts:3,930 Points:683,770 Joined:Jan 2009	Message Posted: Sep 16, 2012 11:07:30 PM Ignore Rooster922 Report Abuse Not every one.
ItsMorph Champion Author Grand Rapids Posts:33,661 Points:3,213,235 Joined:Mar 2004	Message Posted: Sep 16, 2012 11:07:09 PM Ignore ItsMorph Report Abuse Or at least those in charge of it. And those who appointed those who are in charge of it.
WGW1 Champion Author British Columbia Posts:1,382 Points:416,940 Joined:Jun 2010	Message Posted: Sep 16, 2012 11:06:58 PM Ignore WGW1 Report Abuse i know i'm hurting
Blue_Cruzer Champion Author Lexington Posts:7,660 Points:1,697,285 Joined:Mar 2007	Message Posted: Sep 16, 2012 11:06:57 PM Ignore Blue_Cruzer Report Abuse Eating out less than last year.
ItsMorph Champion Author Grand Rapids Posts:33,661 Points:3,213,235 Joined:Mar 2004	Message Posted: Sep 16, 2012 11:06:45 PM Ignore ItsMorph Report Abuse Your dollars are being destroyed by the Fed and things like QE3. Get rid of the Fed!
boatfloyd Champion Author Jacksonville Posts:1,863 Points:416,650 Joined:Mar 2012	Message Posted: Sep 16, 2012 11:06:24 PM Ignore boatfloyd Report Abuse More Inflation
seeyardee Champion Author Sacramento Posts:9,242 Points:1,833,180 Joined:Apr 2008	Message Posted: Sep 16, 2012 11:06:11 PM Ignore seeyardee Report Abuse Stop driving SUV's. It's your own fault.
regout Champion Author Quebec Posts:3,100 Points:861,380 Joined:May 2010	Message Posted: Sep 16, 2012 11:05:58 PM Ignore regout Report Abuse Staying home.
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Sep 16, 2012 11:03:17 PM Ignore PrinceLH Report Abuse That's why we're all slowly losing our savings. It's a slow and steady drain.
pgerassi Champion Author Milwaukee Posts:11,036 Points:2,159,245 Joined:Apr 2007	Message Posted: Sep 16, 2012 11:03:02 PM Ignore pgerassi Report Abuse NOT NEWS