Recession Economics According to Rick Santorum
Did you know that it was actually jumping gas costs, and not deceptive lending practices on the part of mortgage financiers and deregulation madness on Wall Street, that got us into the recessionary quandary in which the majority of Americans still find themselves?
Did you know that it was actually jumping gas costs, and not deceptive lending practices on the part of mortgage financiers and deregulation madness on Wall Street, that got us into the recessionary quandary in which the majority of Americans still find themselves? This gem of economic wisdom is brought to you by whimsical presidential candidate Rick Santorum, who chose a campaign stop in Michigan as its setting on Monday.
This couldn’t have anything to do with getting the GOP memo about nailing Obama on the whole gas-price issue, would it? –KA
WAIT, BEFORE YOU GO…“Politicalticker” on CNN:
The Republican presidential candidate made the claim at a campaign event in Lansing, Michigan while accusing President Barack Obama of blocking the expansion of domestic energy production.
“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.”
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