Yes, we did indeed make it into 2016, and things look pretty good at this point. Just a couple of years ago, soothsayers on the right were warning us all of the dire consequences if President Obama was reelected. “Be afraid,” they seemed to be saying in ominous tones. Here’s four things wrongly predicted by Republicans back in 2012:
Gas Would Cost $6 A Gallon
This one belongs, at least in part, to Utah Senator Mike Lee, who gave a speech on the floor of the Senate in 2012 in which he said that if the President was reelected, the price of gas would rise 5 cents for every month he was in office for a second term, eventually reaching a staggering $6.60 a gallon!
Lee wasn’t alone: Newt Gingrich said the price of a gallon of gas would be $10 a gallon if Obama returned to the White House. Gingrich said if he was elected instead, gas would be only $2.50 a gallon.
A gallon of gas is now below $2 a gallon nationwide.
The Unemployment Rate Would Be Over 8 Percent
Mitt Romney was fond of saying this one, predicting that if Obama was reelected “you’re going to see chronic high unemployment continue four years or longer.” Romney said he would bring unemployment down to a more manageable 6 percent.
The Stock Market Would Crash
Yep, the stock market was headed for a catastrophic collapse. Even Donald Trump got in on this one:
The stock market and US dollar are both plunging today. Welcome to @BarackObama’s second term.
— Donald J. Trump (@realDonaldTrump) November 7, 2012
Investor Marc Faber, who should know better, said the market would drop at least 20 percent, adding:
“Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn’t care about piling up debt.”
The Dow Jones Industrial Average now is at 17,425.03 and is up 27 percent since Obama was reelected.
The American Economy Would Collapse
Head for the hills; the sky is falling!
Rush Limbaugh, who knows as much about economic matters as my dog knows about brain surgery, was one of those leading this train, commenting:
“The country’s economy is going to collapse if Obama is re-elected. There’s no if about this. And it’s gonna be ugly. It’s gonna be gut wrenching, but it will happen.”
The U.S. economy grew 2 percent in the 3rd quarter of 2014. It saw a growth rate of 3.9% in the second quarter.
Yeah, 2016 is gonna be horrible. Don’t believe a word of it!
Featured Image Via The White House