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You noted at the top, we have the lowest unemployment rate in a long time. household debt is down. savings are up. jobs are up. wages are up. just earlier this week, ford announced that they were going to invest another $3.1 billion in constructing a number of plants around the country for eb infrastructure. so those numbers look good. what the president was saying, though, is that he completely understands and notwithstanding all of those numbers, and how strong we are in a position to go forward that inflation continues to be a challenge. he laid out an agenda for dealing with that other day. he spoke again today. we re in a difficult time. there s no question we re in an economic challenge. the bigger point is that the president s economic policies have put us in a very strong position to move through this very difficult time. let me ask you about gas prices hitting a record again today, $4.76. the president said there s ....
All of them are in california. in other words, even an eight-hour workday would not be enough to fill up the smallest of gas tanks in a car. kelly o grady live in los angeles. stark new reality, kelly. it really is, john. and you can see the sign behind me, 6.99 a gallon, inching closer to the minimum wage. think about it, to fill up a standard sedan, cost you $98, not even a gas guzzler. and of course, l.a. has some of the highest prices in the nation but today marks the seventh straight day in a row we have hit record high prices for the national average. jumped $0.05 overnight to hit 4.76, $0.02 shy from double the price when president biden took office. some folks are struggling and dede demanding answers. ....
. o donnell: high gas prices are turning into a major speed bump as the summer travel season kicks off. the national average for regular gas hit another record today at $4.76 a gallon. here s cbs kris van cleave. reporter: soaring gas prices are becoming a costly passenger for the couch family s summer road trip. you gotta think through it s going to cost us x, y, z, to fill up. it s going to cost us x, y, z if we go out to eat. reporter: and don t expect it to get better any time soon. i see higher prices. i see a lot of motorists interested in hitting the road. reporter: that demand for oil is outpacing supply. you re watching me pump my paycheck away. reporter: u.s. and opec oil production is increasing, but it s still below pre-pandemic levels. the war in ukraine means millions of barrels a day of russian oil stay off the market. the longer russia s 10 million barrels remain off the ....
We have you covered on that. first to edward lawrence with how they re dealing with this latest uptick that doesn t end. edward? it doesn t seem to. the president said basically he does not immediate action that he can take that will bring gas prices back down to $3 a gallon setting up the fact that this could take awhile. the president hearing louder cries, louder voices that he needs to act and to something in order to handle inflation. we re seeing voter anger in the polls for his poll numbers. some democrats are even starting to distance themselves from the message coming out of the white house. this is what voters are looking at. gas prices at record highs again. $4.76 a gallon for regular unleaded. the price of gas has set a new record every day since may 10. this pushes up inflation, eats into every one s paychecks. now finally a change in tone. listen here to secretary janet ....
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