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Your “Barack Obama Economic Illiteracy” Blog Post of the Day
Aren’t you glad we have a president who doesn’t understand basic economics? Me too! Because then he can walk into a debate and get away with saying stupid shit like this:
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.
There is so much sand-pounding stupidity in that statement, I don’t know where to start. Fortunately Elizabeth Price Foley guest-blogging at Instapundit schools The Smartest Guy In The Room using words even an Obamabot can understand.
Gas prices, like anything else, are a function of supply and demand. A recession or depression reduces demand. If supply stays constant, gas prices will fall. But if the supply side of the equation is also negatively affected/reduced — as, for example, the reduction of leases and drilling on federal land, as pointed out by Romney — gas prices should rise (as they have). The bottom line? Gas prices should have — probably would have — fallen in our current recession, due to decreased demand. But since the Obama Administration’s anti-carbon, anti-fossil fuel policies have taken hold, the negative impact on supply has outpaced the reduction in demand, leading to significantly higher prices.
But if Obama is making sense, then when gas was 25 cents a gallon, the economy must really have been in the shitter, right? Well, Obamabots? Am I right? Or are you too young to remember?
dba_vagabond_trader
October 18th, 2012
He gets away with krap like this because the audience is just as illiterate.
Billy Fuster
October 18th, 2012
I want a collapse of the economy because that will mean that all goods will be cheaper. Thanks George Bush!
Jerry The Great
October 18th, 2012
If I was Gov romney, I wouldn’t have been able to continue until the president answered my “Are you genuinely retarded? What the hell is wrong with you?” rebuttal.
shotwell
October 18th, 2012
The pretzel logic of the Libs has the 47% in the bag. This confused thinking can be heart breaking to us that can still think for ourselves.
AbigailAdams
October 18th, 2012
If we know for a fact that this criminal administration and their media lie to us on a regular basis, why should we believe that 94% or 98% or whatever % of blacks will vote for obama. You’ve probably seen this before, but I post it as a reminder. I don’t think the title is correct, though. He’s not a black man hating obama, but an American hating obama’s malfeasance.
http://www.youtube.com/watch?v=yeKSkb1bEqc&feature=player_embedded
Enjoy.
norman einstein
October 18th, 2012
@dba nailed it.
It’s the same mentality that thinks that it’s OK to just “print more money”, and that The Won has a limitless “stash”.
AbigailAdams
October 18th, 2012
If this isn’t a case for broad and deep education reform in this country, I’m all out of ideas.
AbigailAdams
October 18th, 2012
@Norman — quite right, you and dba. It’s just like how we shake our heads in incredulity at the chucklehead who says, “But I’ve still got checks left in my checkbook.”
fullcirclethinker
October 18th, 2012
It has also been pointed out that, during the Clinton administration, the housing bubble had yet to burst, the tech industry was booming, the economy was humming right along, the government was building a surplus, and gas was under a buck a gallon.
Hopefully this will dawn on Bill and Hill that Hussein just dissed them as well!
I love how the One says out of one side of his two faced mouth to Romney that “the math doesn’t add up” while saying things like this out of the other side of his two faced mouth. What an idiot!!
Bad Brad
October 18th, 2012
I used to think Barry was extremely intelligent and strategically implementing some diabolical plot. After the two debates I have totally changed my mind. Barry is exactly what you would expect him to be. A product of his environment, and education. And below average intelligence. To bad he was never vetted the first time around.
serfer62
October 18th, 2012
A recession gave us cheap gas & Affirmative Action gave us a president
Kevin R.
October 18th, 2012
Obama’s got one talking point about four years ago: it was because the economy was the worst since the great depression because of the failed policies of the past.
That’s it. That’s all. He has no actual understanding of the issues involved. He isn’t that intellectually interested in anything. He’s just got his talking point and that’s all.
He doesn’t have any actual intellectual comprehension of the issues he’s just got knee-jerk talking points.
jus screamin yo
October 18th, 2012
“@Norman — quite right, you and dba. It’s just like how we shake our heads in incredulity at the chucklehead who says, “But I’ve still got checks left in my checkbook.””
take pride in your ILK, union school teachers – ya wonder we bitch about ever-increasing teachers salaries
Tim
October 18th, 2012
“How are you gonna pay for the tax cuts?”
Same stupidity.