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Obama's Brutal Gaffe: Low Gas Prices Cratered Our Economy
breitbart.com ^

Posted on 10/17/2012 12:32:23 PM PDT by Sub-Driver

Obama's Brutal Gaffe: Low Gas Prices Cratered Our Economy

by Ben Shapiro 17 Oct 2012, 11:48 AM PDT

Last night, President Barack Obama dropped the biggest campaign gaffe of the season – only the media wasn’t watching. It happened during his testy exchange with Mitt Romney over gas prices. First, Obama denied that he’d done anything about denying licenses on oil and gas; he backed off of that shortly. Then he denied that production on federal land was down; he was lying. Finally, Romney hit him with this devastating line:

The proof of whether a strategy is working or not is what the price is that you're paying at the pump. If you're paying less than you paid a year or two ago, why, then, the strategy is working. But you're paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it's $4.00 a gallon.

Obama’s response was horrendous:

Well, think about what the governor -- think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney's now promoting. So, it's conceivable that Governor Romney could bring down gas prices because with his policies, we might be back in that same mess.

In other words, bringing down gas prices by drilling creates economic recession. That was Obama’s argument.

Does anyone think this president understands basic economics?

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: 2012; democrats; drillheredrillnow; gasprices; nobama2012; obama; obamanomics; obamatruthfile
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1 posted on 10/17/2012 12:32:26 PM PDT by Sub-Driver
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To: Sub-Driver
You know the honeymoon is over, when the comedians start.

The liberals are asking us to give Obama time. We agree...and think 25 to life would be appropriate. --Jay Leno

America needs Obama-care like Nancy Pelosi needs a Halloween mask. --Jay Leno

Q: Have you heard about McDonald's' new Obama Value Meal? A: Order anything you like and the guy behind you has to pay for it. --Conan O'Brien

Q: What does Barack Obama call lunch with a convicted felon? A: A fund raiser. --Jay Leno

Q: What's the difference between Obama's cabinet and a penitentiary? A: One is filled with tax evaders, blackmailers, and threats to society. The other is for housing prisoners. --David Letterman

Q: If Nancy Pelosi and Obama were on a boat in the middle of the ocean and it started to sink, who would be saved? A: America! --Jimmy Fallon

Q: What's the difference between Obama and his dog, Bo? A: Bo has papers. --Jimmy Kimmel

Q: What was the most positive result of the "Cash for Clunkers" program? A: It took 95% of the Obama bumper stickers off the road. --David Letterman

Solution to the problem in Egypt : They want a new Muslim leader, Give them ours.

2 posted on 10/17/2012 12:37:26 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: Sub-Driver

Liberals tend not to understand basic economics.

Then, does the president mean to imply that the economy is strong, since gas prices have more than doubled in his term? Will any liberal media types ask that obvious follow up question?


3 posted on 10/17/2012 12:37:43 PM PDT by Dilbert San Diego
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To: Sub-Driver

When I heard him say this I did a double take... I had to make sure he really said that. Dumbest thing I’ve ever heard


4 posted on 10/17/2012 12:38:22 PM PDT by ConservativeMan55
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To: Sub-Driver

I was flabbergasted when he said that.


5 posted on 10/17/2012 12:38:51 PM PDT by Gamecock
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To: Sub-Driver

So what Obamagabe is saying is that those evil oil companies and Halliburton aren’t getting their ill gotten gains.


6 posted on 10/17/2012 12:39:45 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: Sub-Driver

First, I can’t believe what a loss odumbo must have been at to create such a stupid, stupid assertion.

Second, I can’t believe it hasn’t been harped on brutally [yet.]

Third, I can’t believe this is the first I’ve read of it.

It should be hugh and series


7 posted on 10/17/2012 12:40:42 PM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: SkyDancer

Wow did those comedians really say that ??? Did Letterman really say that???


8 posted on 10/17/2012 12:41:14 PM PDT by ConservativeMan55
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To: SkyDancer

ROTFLOL! I liked them all!


9 posted on 10/17/2012 12:42:40 PM PDT by rawhide
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To: Sub-Driver
In other words, bringing down gas prices by drilling creates economic recession.

The corollary of this theory is that paying $4.00 means that the economy is roaring. Imagine how we will be doing when we are paying $10.00.

10 posted on 10/17/2012 12:43:12 PM PDT by depressed in 06 (6 November, 2012, the day our embarrassment is sent back to Kenya.)
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To: Sub-Driver

Not to defend Obama, but I don’t think that is what he said. My interpretation when I heard it was that prices were low because of the economic collapse, which were caused by policies of tax cuts for the rich or loose regulation so conceivably, Romney could lower gas prices by collapsing the economy by bringing back the same policies of tax cuts for the rich and loose regulation. Ridiculous class warfare argument and poor economics, but I did not hear him say that low gas prices caused the collapse.


11 posted on 10/17/2012 12:43:45 PM PDT by wolfman23601
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To: Sub-Driver

“In other words, bringing down gas prices by drilling creates economic recession. That was Obama’s argument.”

No that wasnt his argument at all. What he was impying is that the weak economy somehow resulted in low gas prices. It was a MAJOR GAFFE that is being ignored by just about everyone.


12 posted on 10/17/2012 12:44:44 PM PDT by Brooklyn Attitude (We won't stand for biased umps fixing a ball game but we allow a biased media to fix elections.)
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To: Sub-Driver

The lefties used to complain gas prices went up 275% under 8 years of Bush, now the lefties claim obamas high gas prices are the mark of a growing economy

http://www.libertysflame.com/cgi-bin/readart.cgi?ArtNum=28082

http://wiki.answers.com/Q/What_was_the_gas_prices_for_the_years_2000-2009


13 posted on 10/17/2012 12:45:00 PM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: ConservativeMan55

Jay Leno on Sep 28, 2012


14 posted on 10/17/2012 12:45:13 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: Sub-Driver

Is there a basis or precedent of any kind for his absurd assertion anywhere in all of recorded history?


15 posted on 10/17/2012 12:45:56 PM PDT by infool7 (The ugly truth is just a big lie.)
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To: Sub-Driver

He understands economics inimical to the United States, i.e., islamist economics very, very well.


16 posted on 10/17/2012 12:46:12 PM PDT by onedoug
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To: wolfman23601

I can’t believe that for all the times it’s come up, Romney has never offered any kind of alternative explanation as to who caused the economic crisis. Aren’t there plenty of sources he could point to to show how the bankrupt government entities Fannie and Freddie and the liberal policy from the Carter and Clinton era of giving mortgages to people who couldn’t pay them back caused it (Community Investment Act)? Policies that Obama himself fought for in his community organizing days when they harrassed banks to offer such loans.


17 posted on 10/17/2012 12:46:30 PM PDT by JediJones (ROMNEY/RYAN: TURNAROUND ARTISTS ***** OBAMA/BIDEN: BULL $HIT ARTISTS)
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To: Sub-Driver

Obama wasn’t saying low gas prices cratered the economy. He said prices were low because the economy was cratered.

And Obama effectively said that Romney’s policies might crater the economy again, resulting in low price gases.

I’m no Obama fan, but even I can see the tortured twist Ben Shapiro put on Obama’s words.


18 posted on 10/17/2012 12:46:39 PM PDT by DannyTN
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To: Brooklyn Attitude

But the weak global economy is what caused crude prices to tumble, thus gas prices followed.


19 posted on 10/17/2012 12:47:12 PM PDT by Double Tap
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To: Sub-Driver

I noticed this answer in real time. I said to myself this guy has never taken a class in economics. My 8th grader understands economics better than Obama.


20 posted on 10/17/2012 12:48:43 PM PDT by Tennessean4Bush (An optimist believes we live in the best of all possible worlds. A pessimist fears this is true.)
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To: Sub-Driver

There is an element of truth to what Obama was stipulating. The gas prices were low at the end of the Bush presidency, in part, due to reduced demand which was caused by the recession.

Obama was implying that if Romney’s policies lead to a deepening of the recession then gas prices would probably come down again.

Think about it. If the economy collapses totally then nobody would be buying oil and, at least in the short term, the prices would drop.

On the other hand, if the economy comes out of recession, then the increased demand will result in higher prices until the suppliers adjust supply upwards. Our concern is that supplies are being squeezed, especially domestic supplies, even while the demand is not expanding appreciably.

Even though there is a grain of truth in both observations we must not allow the implication to stand that higher gas prices are simply the result of an economic turn-around. First, we haven’t turned around. And, more importantly, the increase in prices during the Obama term is due primarily to reductions in supply and pressures on oil produced energy due to taking a lot of coal out of the equation.


21 posted on 10/17/2012 12:50:59 PM PDT by the_Watchman
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To: rawhide

Saw it posted on a forum that dated those to August 8, 2010
so not sure as to its accuracy as who really said it. In any case ya, they’re funny.
.


22 posted on 10/17/2012 12:51:32 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: DannyTN

Agree, that is also what I heard.


23 posted on 10/17/2012 12:52:29 PM PDT by wolfman23601
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To: Sub-Driver

High gas prices = Great economy?

Gas was under a dollar a gallon in the late ‘90’s. Remember the food lines then?


24 posted on 10/17/2012 12:54:07 PM PDT by mikey_hates_everything
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To: Sub-Driver

No, it’s the other way around. obama said that gas prices were low because of the economic meltdown.

It’s still a very stupid statement and a major gaffe!!!!

obama and his henchman Chu WANT energy prices to be high—they said so. PHOOEY to both of them!!!!


25 posted on 10/17/2012 12:54:30 PM PDT by Honorary Serb (Kosovo is Serbia! Free Srpska! Abolish ICTY!)
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To: Principled
I don't think that was what Obama meant. I think he was implying that Romney's whole economic program was a throwback to the causes of the last recession (false). He was also implying that electing Romney would bring about another economic crisis (false), drive us back into recession (already going there) and thereby gas prices would go down.

I think that the gas prices were down in 2009 because of the collapse in demand. That doesn't mean that prices aren't high now because of government policy. If the President wanted lower gas prices all he would have to do is say he was going to fast track the Keystone pipeline. Fuel is a commodity. Trading prices are based on what people think is going to happen to the oil supply.

Overall I think Romney did about a C+ on stopping Obama from using his bogus talking points last night. The democrats have been hammering at Romney for months regarding letting GM go bankrupt. Last night was the first time Romney pointed out Obama did exactly that. The administration took GM into bankruptcy. I would have loved to have seen Romney roll in on Obama by pointing out how non-union employees from Delphi got screwed while Obama took care of his buddies at the UAW.

26 posted on 10/17/2012 12:54:43 PM PDT by USNBandit (sarcasm engaged at all times)
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To: SkyDancer

There’s really nothing surprising about this.

Both The Usurper and his Energy Czar have publicly said they see nothing wrong with $10/gallon gas, as long as everything over the cost of production is taxes.

They are dead serious about this.

What is surprising is the number of voters who don’t realize what an evil maniac they have running the Executive Branch.


27 posted on 10/17/2012 12:54:55 PM PDT by shibumi (Cover it with gas and set it on fire.)
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To: infool7

Wonder why Candy didn’t correct him?


28 posted on 10/17/2012 12:55:32 PM PDT by sanjuanbob
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To: Sub-Driver
In other words, bringing down gas prices by drilling creates economic recession. That was Obama’s argument.

That's not how I read it (although it might have sounded differently spoken). I read that we can get low gas prices again if we only tank the economy again.

It's just as stupid, only different.

29 posted on 10/17/2012 12:55:59 PM PDT by ArGee (Reality - what a concept.)
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To: Principled

Romney should have said “Back when Bush was president you and the media was slamming him for gas being so high. Remember doing that Candy? Why are you NOT slamming president obama now?”


30 posted on 10/17/2012 12:57:14 PM PDT by Terry Mross
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To: Honorary Serb

High gas prices forces people to use less. They’re increasing costs by restricting supply to decrease demand.


31 posted on 10/17/2012 12:58:29 PM PDT by tbw2
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To: Sub-Driver
Low Gas Prices Cratered Our Economy

And with this line, zero passes from arrogant socialist to an out of touch ignoramus.

Sad really. Invokes memories of Jimmy in 1980, overwhelmed.

Perhaps another Reagan like era is ahead?

RR = R&R

32 posted on 10/17/2012 1:01:09 PM PDT by cicero2k
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To: SkyDancer

“Saw it posted on a forum that dated those to August 8, 2010”

Oh come on. That’s as credible as Robin Williams’ plan to dismantle the UN


33 posted on 10/17/2012 1:02:33 PM PDT by ari-freedom
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To: wolfman23601

“but I did not hear him say that low gas prices caused the collapse”

That is what I heard as well. He was saying that low gas prices were the result of the “collapse.” Of course, that is completely absurd...but that is what he was saying.

I was certainly better off then under the low gas prices and “collapse” than I am now!


34 posted on 10/17/2012 1:02:53 PM PDT by Sola Veritas (Trying to speak truth - not always with the best grammar or spelling)
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To: wolfman23601
Dear wolfman23601,

I agree with you.

However, the Kenyan still doesn't understand economics:

1. Gas prices wouldn't fall significantly until WAY WELL AFTER a recession began, and began to cause a significant fall in demand.

2. Low gas prices actually work as a STIMULUS to the economy, sort of like an unofficial tax cut, and to see the economy tank IN SPITE of already-low gas prices means the economy really, really sucks.

But you're correct - I don't read it that the Kenyan thinks that low gas prices cause economic downturns.


sitetest

35 posted on 10/17/2012 1:02:56 PM PDT by sitetest (If Roe is not overturned, no unborn child will ever be protected in law.)
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To: SkyDancer

Bookmark


36 posted on 10/17/2012 1:03:04 PM PDT by sfimom
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To: JediJones
I can’t believe that for all the times it’s come up, Romney has never offered any kind of alternative explanation as to who caused the economic crisis.

I think Romney knows that's a losing game in a debate. You can't go back and re-try the experiment with everything the same but one variable changed to prove the cause, so people will hear what they want to hear. It's best to let it go and focus on what you can easily defend.

37 posted on 10/17/2012 1:05:17 PM PDT by ArGee (Reality - what a concept.)
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To: Dilbert San Diego

Yeah, that made absolutely no sense.

If gas prices were low in 2008 because the economy “was in a mess”, then the reason the gas prices are high is because the economy is better now? Twice as good?


38 posted on 10/17/2012 1:06:36 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Sub-Driver

Mitt may be a Moromon but O is definitely a MORON


39 posted on 10/17/2012 1:07:07 PM PDT by Nifster
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To: Sola Veritas

Not absurd at all. It is fact. Sorry some of you can’t get it, but this is a losing argument. Crude oil and gas prices crashed in mid 2008 when the world economy took a dive.

Fact


40 posted on 10/17/2012 1:07:07 PM PDT by Double Tap
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To: Sub-Driver

Mitt may be a Mormon but O is definitely a MORON


41 posted on 10/17/2012 1:07:24 PM PDT by Nifster
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To: DannyTN
Obama effectively said that Romney’s policies might crater the economy again, resulting in low price gases.

This is the proper conclusion based on Obama's statement. Voting for Obama will keep our gas prices high and potentially make them even higher, given he and his administration keep insisting the economy is improving.

42 posted on 10/17/2012 1:13:06 PM PDT by MamaDearest
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To: Dilbert San Diego
Liberals don't care about economics, they care about control.

They want poverty, and that is something rational people don't understand about them.

43 posted on 10/17/2012 1:14:11 PM PDT by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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To: Sub-Driver

It sounds as if OZero might be correct if one infers momentarily a fact not yet in evidence—beyond conjecture—that oil producing countries did and may yet again manipulate economic collapse.

Is much of the Islamic coddling we see around the world in response blackmail from Middle East oil producers that demand we keep paying high oil prices, despite our gasoline consumption being down more than 35% since 2007?

HF


44 posted on 10/17/2012 1:14:43 PM PDT by holden
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To: Sub-Driver

It sounds as if OZero might be correct if one infers momentarily a fact not yet in evidence—beyond conjecture—that oil producing countries did and may yet again manipulate economic collapse.

Is much of the Islamic coddling we see around the world in response blackmail from Middle East oil producers that demand we keep paying high oil prices, despite our gasoline consumption being down more than 35% since 2007?

HF


45 posted on 10/17/2012 1:14:43 PM PDT by holden
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To: ari-freedom

What? You mean he didn’t try?? Anyway got that in an email, posted it here for it’s comedic content.


46 posted on 10/17/2012 1:19:06 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: shibumi

Well maybe now after the second debate they know. Hopefully.


47 posted on 10/17/2012 1:20:07 PM PDT by SkyDancer ("I Believe In The Law Until It Interferes With Justice")
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To: Sub-Driver

The “economy was on the verge of collapse” when 0bama took over, he took over on January 20, 2009 - the economy was on the verge of collapse in August/September 2008 and the recession was declared over by summer of 2009.


48 posted on 10/17/2012 1:20:30 PM PDT by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: ConservativeMan55; SkyDancer
Wow did those comedians really say that ??? Did Letterman really say that???

Uh, actually, no. This is a regurgitation of an e-mail that has been circulating around the internet for at least two years. It appears that it was cut-and-pasted exactly with no editing whatsoever. Check it out on Snopes. I did a search on "lunch with a convicted felon" and found it at about the third result. They say it was going around for two years, and that was two years ago.

49 posted on 10/17/2012 1:27:30 PM PDT by webheart (King of the Run-On Sentence)
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To: depressed in 06
Imagine how we will be doing when we are paying $10.00.

Obama will commend us and say because of our increasing collective fuel efficiency we are driving a time and a half further on that ten dollar gas.

50 posted on 10/17/2012 1:28:51 PM PDT by oyez ( .Affordable Care is neither affordable nor care.)
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