Tuesday, December 20, 2011

Average U.S. family spent 4,155 dollars in 2011 for gasoline

$4,155 is 8.4% of the median family income in the U.S. This is the highest percentage of median family income paid for gas in any year since 1981, which by the way is the last time we saw unemployment around 9 to 10% as well. Source NBC Nightly News with Brian Williams Monday Night.

My question would be this: If the U.S. is now shipping more gasoline out of the country than we presently import, why is it that we are spending this much for Gas? There is something wrong with this equation.

By the way, if you take 4,155 and divide it by 8.4 you wind up with 1/100th of the average income. By then multiplying it by 100 you get  $49,464.49 which must be the average income coming into a family from all its working members who are living together in the same household.

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