August 22nd, 2008

stimulus checks, the price of gas and how much we collectively drove this summer

I _love_ Floyd Norris. Okay, I don't know him. But I really like reading what he has to say over at the NYT, both in his regular articles and his blog.

In this outing, he takes a good hard look at how much we collectively spent on gas over the last few months and how the drop year over year has varied. And he notes that the point at which it came back up a little -- and gas prices peaked -- was, interestingly enough, after the rebate checks were sent out.

_That's_ where the rebate money went? Sure! Why not. What trips were disposable, but valuable enough to take when you had a little windfall? A trip to the beach? Grandma's? Makes perfect sense to me.

But no more stimulus, and gas bought drops back down and with it the price of gas.