EconoMeter: Iraq insurgency watch
Roger Showley, U-T SAN DIEGO
Friday, June 20, 2014
Kelly Cunningham, National University System
With continuing weak recovery, the U.S. economy is ill-equipped to absorb another major shock. San Diego and rest of California already have the nation’s highest gas prices and are particularly vulnerable to further oil price hikes. The more prices rise, less is available to spend on other consumer goods and services which negatively impacts the economy. Although San Diego’s defense-based economy tends to grow when military actions increase, the nation can ill afford to recommit immense resources to military actions in Iraq. Yet the U.S. can ill afford to allow terrorist havens to be established across the Arab world.