July saw another sharp drop in vehicle miles traveled (aka VMT) according to the Federal Highway Administration's monthly report on "Traffic Volume Trends."
Lost in all the news about the financial meltdown and the election is the report that Americans drove 3.6 percent less, or 9.6 billion miles fewer, in July 2008 than July 2007. Okay, maybe it wasn't lost in all the news -- it looks like the FHA didn't bother issuing a press release (see here). I guess even they are blasé about reductions in driving that just a few months ago would have been record-setting.
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