Trenae Alexander, Staff Writer
March 8, 2011
Filed under News, Top Stories
Even if the economy is recovering, most people cannot defy that when it comes to money, Americans are suffering. Minumum wage jobs pay for less as food and gas prices rise to extensive levels. A lot of families are beginning to worry as the budget line becomes tighter and tighter.
“We don’t go a lot of places because it cost too much gas and my regridgerator is now empty because food prices are going up. We’ve been eating a lot at Taco Bell because it’s so cheap,” sophomore Keundra Limbrick said.
Staples such as milk, eggs, and bread have been on a price roller coaster as the food price levels rise to the highest levels for the second time in two years. Sugar, and American staple, is shooting up in cost, sending prices all over the world soaring. Prices are still below the 1970′s spike but it has reached the highest levels since then causing economists to worry that it may surpass it. A main cause is export and trade bans in foreign countries. Russia and many eastern Europe have placed bans on grain, Egypt, India, and many Asian countries such as China and Vietnam have put a tariff on rice, and Argentina has limited trade on corn, wheat, and soybeans. America, a huge importer, is suffering the consequences.
Along with food, gas prices are shooting up to levels that are making people see the pump as an enemy. Huge spikes are being caused by the turmoil in the Middle East. As Egypt, Jordan, Libya, and Yemen fight for revolution, the oil dependent world is suffering. Though America is the largest user of oil, population dense India and China are catching up.
“We are carpooling to save gas because we have a diesal truck so we really need to save up. When we shop, we used to go to stores like Tom Thumb, but now we go to Pauldings and Wal-mart. Pauldings is really good for people saving up because it’s a huge discount,” senior Tracy Lee said.
High school students tend to rely solely on minimum wage paychecks and allowances, so higher prices on gas has started to put students farther and farther behind. Some families, however, have been able to stay unaffected by the rise in prices.
“We don’t really need to adjust because we are not really short on money. My Dad is an accountant and my Mom stays at home,” junior Alan Pickering said.
Many students are learning to balance their money in order to afford the higher price tag at the pump, and the other luxuries that would be hard to give up such as fast food. Eating at home more often, skipping the morning muffin on the way to school, and opting for a red box movie at home instead of a new release at the theater are just some of the ways to cut corners.
According to Victor Shum, an energy analyst with Purvin & Gertz in Singapore, suggests that “prices will get worse, if the unrest gets worse”. No one knows how long the unrest in the Middle East is going to last, but it certainly is making a impact on the whole world in one way or another.
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