Rising Expenses Drain Family Savings ; Majority See Need to Cut Back

Summary

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A majority of Americans say they have had to raid their life savings to meet the rising costs of food and gasoline - a trend that continued Monday with crude oil prices hitting another record high.

A Fox 5/The Washington Times/Rasmussen Reports survey released Tuesday found that 57 percent of adults said they dipped into their savings because of increasing fuel and grocery prices, as consumers take a harder look at fuel efficiency ratings and cut back on nights on the town.

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Extract

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Rising Expenses Drain Family Savings ; Majority See Need to Cut Back

The drain underscores widespread economic pain caused by runaway gas prices, which have become the dominant issue in the presidential race and in Congress. But neithe...

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