Skip to comments.Obama's Brutal Gaffe: Low Gas Prices Cratered Our Economy
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 wasnt watching. It happened during his testy exchange with Mitt Romney over gas prices. First, Obama denied that hed 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.
Obamas 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 Obamas argument.
Does anyone think this president understands basic economics?
(Excerpt) Read more at breitbart.com ...
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.
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?
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
I was flabbergasted when he said that.
So what Obamagabe is saying is that those evil oil companies and Halliburton aren’t getting their ill gotten gains.
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
Wow did those comedians really say that ??? Did Letterman really say that???
ROTFLOL! I liked them all!
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.
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.
“In other words, bringing down gas prices by drilling creates economic recession. That was Obamas 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.
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
Jay Leno on Sep 28, 2012
Is there a basis or precedent of any kind for his absurd assertion anywhere in all of recorded history?
He understands economics inimical to the United States, i.e., islamist economics very, very well.
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.
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.
But the weak global economy is what caused crude prices to tumble, thus gas prices followed.
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.