Yes, Obama Thinks Gas Prices Were Low In 2009 Because The Economcy Was On The Verge Of Collapse

October 16, 2012 11:38 pmViews: 517

One of the most amazing lines from the second Presidential Debate between Mitt Romney and Barack Obama was when the President was questioned by Candy Crowley of CNN about gas prices and he gave this incredible response indicating he utter lack of understanding of economic principles. The President was asked by Crowley, "If your energy policy was working, the price of gas would not be $4 a gallon." And then President Obama responded:

"Well, think about what the governor just said, when I took office the price of gas was $1.80, $1.86...Why is that? Because the economy was on the verge of collapse."

Yes, that's what you heard. Watch the short video below and take in the foolishness, if you can stand it:

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Tom says:

The economy did collapse. On the verge my ass! Gas prices were headed for Five Bucks a gallon in 2008. After the collapse nobody was buying anything including gas. That’s why prices dropped. It’s called whatever the market will bear. Thanks George W. Bush.

FreeUlysses says:

You mean to say, ‘Thanks Housing Bubble Burst’, which is to say, “Thanks Fannie and Freddie’ for backing millions of crap loans, which is to say, “Thanks Clinton, Carter, and Obama, for each pushing the Community Reinvestment Act and pressuring banks to give loans to low income familes that wouldn’t normaly have the credit worthiness to pay it back, and as we’ve seen in reality, could not pay it back. G Bush my ass.
The whole crisis could have been prevented. Numerous people tried to stop it. Watch and listen as dem after dem defended the policy that ended up causing millions of people to lose their homes and the entire world to slip into a funk. Untended consequences from “well my intentions were right” dumbass liberals.

freeulysses says: Chris Dodd and others explain how the crisis happened.

“Oil prices plunged in the second half of 2008 as the global economic crisis unfolded. Gas prices followed suit, with the national average price dropping to about $1.60 a gallon in December.”
–, July 2009.