edthecynic
Censored for Cynicism
- Oct 20, 2008
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1. Gas was supposed to cost $6.05 per gallon.
In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $6.05 per gallon by the start 2015. Lee said that gas prices would rise 5 cents for every month Obama was in office, ultimately reaching $6.60 per gallon.
Lee was not alone. Newt Gingrich, running for the GOP nomination, predicted that if Obama was reelected he would push gas to “$10 a gallon.”
2. Unemployment was supposed to be stuck at over 8%
In September 2012, Mitt Romney predicted that if Obama is reelected “you’re going to see chronic high unemployment continue four years or longer.” At the time, the unemployment rate was 8.1%and had been between 8.1% and 8.3% for the entire year.
What would breaking out of “chronic high unemployment” look like in a Romney presidency? Romney pledged that, if elected, he could bring the unemployment rate down to 6% by January 2017.
3. The stock market was supposed to crash
Immediately after Obama won reelection in November 2012, many commenters predicted that the stock market was toast.
Charles Bilderman, the author of the “Intelligent Investing” column at Forbes, wrote that the “market selloff after Obama’s re-election [was] no accident,” predicting “stocks are dropping with no bottom in sight.” Bilderman said that the policies the Obama administration would pursue in his second term would “crash stocks.”
Donald J. Trump
✔@realDonaldTrump
The stock market and US dollar are both plunging today. Welcome to @BarackObama’s second term.
On Bloomberg TV, investor Marc Faber predicted that, because of Obama’s reelection, the stock market would drop at least 20%.
4. The entire U.S. economy was supposed to collapse
Rush Limbaugh predicted that “the country’s economy is going to collapse if Obama is re-elected.” Limbaugh was confident in his prediction: “There’s no if about this. And it’s gonna be ugly. It’s gonna be gut wrenching, but it will happen.”
CREDIT: RUSHLIMBAUGH.COM
The economic freefall would begin, according to Limbaugh, because “California is going to declare bankruptcy” and Obama would force states like Texas to “bail them out.” California currently has a $4 billion budget surplus.
Limbaugh added, “I know mathematics, and I know economics. I know history. I know socialism, statism, Marxism, I know where it goes. I know what happens at the end of it.”
Limbaugh said the economic apocalypse could take “a year and a half, two years, three years.” It’s been three years and two months since Limbaugh’s prediction.
4 Things That Were Supposed To Happen By 2016 Because Obama Was Reelected
In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $6.05 per gallon by the start 2015. Lee said that gas prices would rise 5 cents for every month Obama was in office, ultimately reaching $6.60 per gallon.
Lee was not alone. Newt Gingrich, running for the GOP nomination, predicted that if Obama was reelected he would push gas to “$10 a gallon.”
2. Unemployment was supposed to be stuck at over 8%
In September 2012, Mitt Romney predicted that if Obama is reelected “you’re going to see chronic high unemployment continue four years or longer.” At the time, the unemployment rate was 8.1%and had been between 8.1% and 8.3% for the entire year.
What would breaking out of “chronic high unemployment” look like in a Romney presidency? Romney pledged that, if elected, he could bring the unemployment rate down to 6% by January 2017.
3. The stock market was supposed to crash
Immediately after Obama won reelection in November 2012, many commenters predicted that the stock market was toast.
Charles Bilderman, the author of the “Intelligent Investing” column at Forbes, wrote that the “market selloff after Obama’s re-election [was] no accident,” predicting “stocks are dropping with no bottom in sight.” Bilderman said that the policies the Obama administration would pursue in his second term would “crash stocks.”
Donald J. Trump
✔@realDonaldTrump
The stock market and US dollar are both plunging today. Welcome to @BarackObama’s second term.
On Bloomberg TV, investor Marc Faber predicted that, because of Obama’s reelection, the stock market would drop at least 20%.
4. The entire U.S. economy was supposed to collapse
Rush Limbaugh predicted that “the country’s economy is going to collapse if Obama is re-elected.” Limbaugh was confident in his prediction: “There’s no if about this. And it’s gonna be ugly. It’s gonna be gut wrenching, but it will happen.”
CREDIT: RUSHLIMBAUGH.COM
The economic freefall would begin, according to Limbaugh, because “California is going to declare bankruptcy” and Obama would force states like Texas to “bail them out.” California currently has a $4 billion budget surplus.
Limbaugh added, “I know mathematics, and I know economics. I know history. I know socialism, statism, Marxism, I know where it goes. I know what happens at the end of it.”
Limbaugh said the economic apocalypse could take “a year and a half, two years, three years.” It’s been three years and two months since Limbaugh’s prediction.
4 Things That Were Supposed To Happen By 2016 Because Obama Was Reelected
