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Obama's Brutal Gaffe: Low Gas Prices Cratered Our Economy
by Ben Shapiro
Obama's Brutal Gaffe: Low Gas Prices Cratered Our Economy
17 Oct 2012
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?
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