Gas Prices in Michigan?
What is going on with our government today, our gas in Alpena Michigan, just went up to 3.19 a gallon but yet minimum wage is still the same, how do they except people to stay working at that wage and having to pay high prices for gas just to get to work. I am getting very worried about where we are headed, I don't see any relief in site, what are we to do, paying higher for gas, higher food cost and no jobs. America is sinking fast.
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Verified answer
You can thank Obama's Brave New Society.
Reckless government borrowing and spending crowds out business investment, hence job creation, while also causing the currency markets to devalue the dollar. Since oil is mostly produced outside the U.S. and the producers want to maintain the value of their production, they have to raise the price of oil (which is priced worldwide in U.S. dollars) to defend their income against a falling dollar.