WZTV FOX 17 - Top Stories
The pinch at the pump feels more like a punch these days. The average price for gas in the Midstate is $3.35 a gallon. Maybe we are too numb to notice. The pump continues to drain a larger slice of people's income.
"Consumers really haven't realized the full magnitude," says Economist Daraius Irani. "Oh my God, I'm spending 4% of my household income on gas."
According to the Energy Information Agency, the average American household in 2012 shelled out nearly $3000 for gasoline. Call it insult on top of downsizing. The cost to drive is rising even as Americans' appetite for fuel consumption decreases.
"We got rid of an SUV, we got rid of a big Volvo," says driver Bob Creamer. "You know, one of those super wagons. So we trimmed down."
Irani says one day the decision will go beyond smaller, more fuel efficient cars. Roxanne Bowman had no idea how much of her budget is truly in the tank.
'I'd rather be going to the Bahamas, rather be going to the Bahamas," says Bowman.
You can find the lowest gas prices in the area by going to Fox17.com and click on FUEL GAUGE.
Thursday, February 7 2013, 08:45 PM CST
Tennessee recoups unemployment benefits
May 22, 2013 20:26 GMT
NASHVILLE, Tenn. (AP) -- State Labor Department officials say they have recouped about $15.3 million worth of fraudulently collected unemployment benefits by garnishing tax refunds and other federal payments to people who were not entitled to receive the assistance.
A scathing audit released earlier this year showed that the state overpaid $73 million in unemployment benefits. The overpayments were the result of both fraud and errors at the Department of Labor and Workforce Development. The audit was especially critical of the department's method for recouping fraudulent benefits.
Acting Department of Labor and Workforce Development Commissioner Burns Phillips said in a statement that the ability to reclaim fraudulently collected unemployment benefits is critical to the business community. He said the department is focused on developing strategies to prevent people from wrongfully collecting the assistance.
Bernanke signals Fed to maintain stimulus efforts
WASHINGTON (AP) -- Chairman Ben Bernanke is telling Congress that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
IN THE NEWS: TEENS MOVING TO TWITTER TO DODGE PARENTS, OTHER BORES
WASHINGTON (AP) -- If you're one of those parents who are on Facebook in part to keep an eye on what your kids are up to -- here's a news flash: your kids are on to you and have moved to Twitter.
DOG BEACH WEAR
LOS ANGELES (AP) -- From bikinis to Hawaiian shirts -- it's time to gear up for the beach.