I know an overly strong dollar is bad for trade, which would thus have a bad effect on the overall economy—but I think $4-a-gallon gasoline would be a lot worse.
You just have to know Democrats and the media (but I repeat myself) are drolling at the prospect of hammering another Bush with their tried-and-not-so-true “worst economy in the last fifty years” meme.
Fuel isn’t the only fundamental commodity skyrocketing in price these days. The rising price of foodstuffs translates more or less directly into higher subsidy costs, which means bigger federal budgets and thus bigger deficits.
And just leave it to the Democrats to forget that one of Herbert Hoover’s biggest mistakes was to raise taxes in a recession.
