Annual fuel budget for U.S. families this year? Over $4,000
The culprit, as should not be a surprise, was $3.50-a-gallon gas in a sluggish economy, creating the situation where fuel cost more while people made less. Not a fun combination. Even worse, the AP notes, when Americans spend more on gas that on eating a meal out, for example, a higher percentage of the money goes overseas. Also, one economics professor calculated that 2011's high gas prices had the same effect as the economy growing 0.5 percent slower than it did. So, our inefficient cars hurt us in all sorts of ways. And there are still people who question the work being done to make our cars more efficient? Boggles the mind.
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