Monday, May 08, 2006

Bush Approval Slides Again!

If it weren't enough that Porter Goss will probably be implicated in the unfolding prostitution scandal, Bush hit a new record, 31% approval rating according to USA Today. Even among the strongest supporters of the President , Republicans, his approval rate has hit an all time low. It seems that many republicans in Congress are wondering whether to distance themselves from Bush in hopes of not falling into the "black hole" of his unpopularity.

As gas prices continue to rise, the public feels less optimistic that they might escape any economic hardships, and indeed many are already feeling the pinch. In many states the price of regular is above $3.00 per gallon yet auto-makers continue to churn out SUVs and gas guzzling cars. Why? According to auto industry expert Erich Merkle, "the price would have to top $4.00 per gallon in the next 6 to 9 months to affect SUV sales".

We'll see. Gas prices will no doubt affect cost of delivery for goods to stores and that cost will be passed on to consumers. The end result is that the middles class and the poor will be squeezed again, and that spells trouble for the Republicans in the fall.

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