How $4 Gas is Killing the Middle Class
Channel: New America
Date: 21/10/2011

In 2011, Americans will spend $100 billion more on gasoline than we did in 2010. Our gas tanks, in other words, effectively consumed every dollar of President Obama's middle class tax break. In the months ahead, those gasoline purchases will continue to crush the budgets of millions of American families -- and our current energy and economic policies do little or nothing to help.

Over the past year, New America's Energy Trap project  has conducted scores of interviews around the country, surveyed more than 2,000 households on their transportation spending, and initiated an economic review of how consumers have responded to gas prices over the past 40 years. The findings challenge traditional thinking about gas prices' impact on the middle class, and suggest innovative new ways of addressing the issues of energy dependence, carbon emissions and stagnant household income.

Please join us for a discussion on Friday, October 21st -- and visit http://stories.energytrap.org to explore the full report on these initial findings.