Gas tops $4 and consumer psychology

The average price of gasoline is now above $4 a gallon for the first time in three years. Some analysts say that's a key psychological barrier, above which consumers begin to shift behavior and cut back on spending. Plus, the spike in oil prices we’ve seen may more than completely offset the fiscal boost from this year’s tax refund, and roughly a third of people trading in their old cars are underwater on their car loans.