Higher energy prices act like a tax. They reduce the disposable income people have available for other things after they've paid their energy bills.
More Quotes from John W. Snow:
We have to keep our eye on inflation, but so far inflation remains reasonably in check on the global stage.John W. Snow
Inflation is still pretty well in check. We do have energy prices that are unwelcome, too high. I hope Congress can take some action on that.
John W. Snow
I have many private conversations with Chairman Greenspan and we never reveal what we talk about. So I don't want to break my rule.
John W. Snow
Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.
John W. Snow
Well, such as opening up some sectors of banking, branch banking for instance. It isn't a legislative matter, it's a matter for administrative action.
John W. Snow
The global economy is in pretty good shape.
John W. Snow
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