Rising Energy Prices Strain Household Budgets And The Economy, For Most Americans

The impact of rising energy prices on households and the economy has increasingly become a focal point of public concern and public policy attention. Record gasoline prices and skyrocketing natural gas prices have been the subject of a national task force chaired by the Vice President and a national summit chaired by the Secretary of Energy. Economists are now convinced that rising energy prices have slowed the economy down, while newspaper headlines debate how consumers are coping with the rising prices. What is missing from the discussion is a careful analysis of the burden that rising prices place on household budgets.