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-- just writing good news top of the board here you remember when we used to say in this country when America sneezes -- gets a -- Some folks apparently think that battled expression should work both ways now this week Europe focusing much of its attention on Cyprus which is now the -- or you counting these bailout -- nations.
The fifth Euro country to ask for a bailout.
Nevermind the fact it's I criticism island nation of just one point one thing -- That's half a million fewer than the residents of -- -- for crying out off.
And to put the nation's economy into some perspective.
Cyprus had twelve.
Billion dollars in budget expenditures -- I said twelve billion.
That is five billion dollars less -- NASA's budget.
Which had been cut by the Obama administration over the course of three years.
-- wisely in my opinion the Europeans are getting almost silly now about this bailout nonsense.
Let's get to the good news here tonight in the land of the free let's start with the governors want.
How are doing something there's lots we could talk about but let's talk about -- Home prices right now folks.
It's been -- Hector variety have -- home prices.
One point 3%.
One point 3%.
In -- one point 3% ending a seven month string of declines this is big news spoke.
Not only that sales of new and previously occupied homes are up over the past year in part because -- mortgage interest rates that -- for the lowest level.
And how about gas prices.
-- you talk about some good news gasoline prices.
It was just.
Little while ago that the Obama administration was calling the president -- calling for.
By his attorney general -- resurrect that fraud task force and find out why crude oil was trading so high the price for gasoline.
Has now dropped.
To the lowest level in five months providing much needed relief ahead of the fourth of July holiday.
The national average for gasoline is are you ready for this for Reid -- And -- recent that's regular and dropping dropping I would almost like a rock that compares -- -- speaker just under.
Four dollars 394 gala which means Americans are now spending.
I love this.
Each and every day 200 million box.
The spend on other things you talk about a stimulus program that's a stimulus -- and oil prices migrant.
Oil prices dropping.
And have been doing so and we don't you know it's not very popular in this country to give credit where credit is due.
In foreign policy but I got to tell you.
Crude has plunged 27%.
27% from a high about hundred -- nine dollars back and pepper a 109.
-- -- The seven -- nine dollars today 79.
And let me do the math this way I really think.
All the saudis.
And say -- Thank you.
Because they have.
Done what they said they would do and that is produce and push production.
Is somebody we should be acknowledging for what they've done were -- got about a million barrels.
In excess production right now per day.
It just think of all the money by the way that the Obama administration and -- on that net fraud task force.
You know when when prices were higher rising so I'm kind of excited by -- And also MarketWatch economists estimate that just a 5% reduction those -- prices sustained per year.
Means that the average American -- saves about 250 dollars more gasoline prices smaller utility bills or inflation.
We could include a few qualifiers by the way countervailing negative influences on the economy and -- and may but we've all heard about those already have a but stay with a good news this feels just about right doesn't.
Let's -- keeps getting the.
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