Most Americans disapprove of President Obama’s policies on reigning in gasoline prices, but most blame profit-hungry oil companies for higher fuel costs, according to a Reuters/Ipsos online poll.
The consumer-price index, which measures the cost of living for Americans, jumped the most in 10 months in February, propelled mostly by gasoline.
President Obama today took on GOP opponents on the hottest issue of the moment – climbing gas prices – by touting a report showing that oil imports decreased in 2011 by one million barrels a day.
Reiterating that the U.S. cannot drill itself out of foreign oil dependency and higher gas prices, President Obama said improved fuel efficiency standards and ending $4 billion in subsidies to U.S. oil companies are two solutions.
Deflecting an already rising tide of criticism over gas prices, President Obama warned the nation that there are “no short-term silver bullets” to solve the problem. But the President also said his administration is considering all options and areas in which the government can make an impact on oil markets.
Simplifying the tax code for small business owners and providing tax relief can help them tend to important issues, such as sales and hiring, according to the President’s framework for overhauling the corporate tax code.
A dangerous combination of unresolved foreclosure properties and the epidemic of negative equity could create a scenario where homes prices “overshoot and fall below” fundamental home values – creating a big hurdle to economic recovery.
In a sweeping new plan to help millions of “underwater” homeowners, President Obama today said borrowers can save $3,000 a year on average if Congress approves his program with a price tag of $5 billion to $10 billion.
President Obama wants to start providing federal aid to colleges that maintain affordable tuition, “good value” in education and those that ensure more low-income students graduate. The proposal from the administration requires Congressional approval and was mentioned in this week’s state of the union address.
Republican Mitt Romney’s tax plan would cut taxes for about 75 percent of taxpayers by an average of $2,900, but its impact takes a wide swing among income levels with 13 percent of earners potentially seeing an average increase of $900 in taxes by 2015. These are the findings by the independent Washington research group, Tax Policy Center, which studied the tax proposal by Romney, the frontrunner for the Republican nomination.