Friday, May 30, 2008

Your Tax Rebate? Already Gone.

Every penny increase in the price of gasoline takes $1.3 billion out of the pockets of American families.

That's the math from Merrill Lynch's David Rosenberg cited in Newsweek.

Now here's some more math on those stimulus checks we're waiting on from Washington.

The package was worth $120 billion. But when it passed, gas was $3.00 a gallon. Now it's $4.00. All that stimulus is already gone before the checks arrive -- kinda like your paychecks these days! (Newsweek)

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