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![]() How to reduce gas prices
» Posted by Martin Weil on June 30, 2008
Ben Stein, in rare form, writing in the NY Times, says "balance the Federal budget." The world price of oil is denominated in dollars. The dollar is weak for many reasons, but a big one is the immense budget deficits run by our government. If President Bush and Senators John McCain and Barack Obama were to stand together in front of a camera and solemnly swear that they would balance the budget in four years, even if it required tax increases on people earning millions, the dollar would rise against the euro, and oil would fall in dollars. Ben is not optimistic on this point. But he offers this hopeful note: But we will get through it, just as we get through everything else, one adaptive, smart American at a time.
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