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Subtraction by Addition

5:17 PM, Feb 8, 2013 • By GEOFFREY NORMAN
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The payroll tax cut has been rolled back so, of course, consumers have less money to spend and that seems to be what they are spending ... less.

And, then, the price of gasoline is going up.  Is higher, in fact, at this point in the year than it has ever been.  This also reduces the consumer's ability to spend on other things.

These trends might just account for why the president's approval numbers are moving in the other direction.

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