“”I think most people will simply reconsider their priorities and spend less money on less important things.””
That is exactly what is going on right now and it is one of the big reasons that the economy is slowing. I strongly believe that an economic stimulus package should include more domestic oil production (open ANWAR and allow offshore drilling on both coasts.
Charles Krauthammer says the $145 billion that is earmarked for the “economic stimulus” represents the money that the US has spent in purchasing foreign oil in the period from Sept 1st 2007 to Jan 15th 2008. It is an indication of how the transfer of our wealth to oil producing countries is killing our economy. We don’t need more mass transit...we need more domestic oil production.
Most definitely. Anything less is sheer insanity.