Santorum: High gas prices caused the recession – CNN Political Ticker - CNN.com Blogs - Rick Santorum argued Monday that it was high gas prices, not dubious lending practices or complex Wall Street trades, which torpedoed the housing market in 2008 and brought on the current prolonged economic slump. "We need to look at the situation with gas prices today," Santorum said. "We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn't pay their mortgages because they were looking at $4 a gallon gasoline." and this guy thinks he qualified to be president??