Why did it take Bush 8 years to say this?

You can't single out 1 factor when it comes to gas & oil. There are many reasons for its big issue here in the states. It has to do with the US economy and not just BUSH, but the president that came before him who allowed the inflation to begin without even flinching. Keep in mind, US GOV gets around 20% of everything purchased, so the more we spend, the more the GOV makes When the GOV is making more money, the president isn't going to decrease that, the idea is to make more for the GOV. But Bush is now in dire straights as he is actually giving money back to us, to help encourage us to spend more of our money.

One point about the US economy that most of us overlook, is that the US population earns more income than other nations, thus we are willing to pay more money on, not just gas, but just about everything else in general. You know I pay $1.59 for a 20oz coke where I buy gas as well. I remember back in the day when I was outraged when a 2 liter bottle of coke was just $0.99cents, its like yeah we know we're paying a $1.00 for it come on now... But $1.59 for a 20oz coke and I don't even think twice about it. Once your paying so much for one thing, the other smaller items don't seem like such an outrage. Again inflation, every business & company wants to earn more, so we end up paying more...This isn't BUSH's fault and its not just about OIL.

You see less people spending money on gas, the price will go down, why do you think the price of gas goes up in the summer? Because people drive almost twice as much, not to mention the hurricane season approaching, gotta prepare for that. Another big burden on the summer time gas hike of this decade is the the SUV OVERKILL.

And its a joke too, monkey see monkey do is horrible in America. Once one person has a cross-over SUV getting 10MPG less than their previous car, everyone sees the new car and buys it because they want the new fancy car too. Then all the car company's realize the trend and release as many dumb looking SUV gas guzzling crossovers as possible.

What makes it even better for the car company's is that people buying SUV's are usually buying their 1st SUV and don't know much about them. So car company's can charge more for SUV's because of this, making the consumer think thats what these BIGGER cars cost, and they don't want you to think about the extra $50+ you might spend per week on gas because of it. Car company's are flourishing of the American market and the big boys Honda, Toyoda, MITSU etc.. have spent 1000% increase on TV ads this decade. Coincidence? Nope, they know they can over charge on these cars and we're stupid enough to go out and buy them.

Inflation in general will come to a halt and decrease if Americans stop wasting their money on useless crap, we're just so willing to fork out the cash and just plain deal with it I guess.

 

Actually, I can. Oil is traded globally. You can see the price/exchange ratio with everyone else, and ourselves. It really doesn't need to be a whole lot more complicated than that.

This is incorrect. The government will just deficit spend. They don't really care if they take in $900 million, or $950 million. Their spending is not contingent upon what they bring in for revenues.

This my friend is a big joke. We're running a deficit. We're in debt.

The money that is coming back, is not accompanied by a spending cut. It is either going to be borrowed or it is going to be monetized as inflation. Either way, it's bad news. "Your money" is used almost exclusively to pay the interest on the $9 trillion national debt.

Inflation is caused by increases in the monetary supply. It has nothing to do with the habits of the average American in a Wal-Mart.

Until the government is brought under control, spending is cut, and the deficit removed, as well as a serious attempt to remove the debt, you're going to see inflation. Until we go broke. And then, a lot of people are going to be pissed off.