For Asheville Progressive.
1. Gas was supposed to cost $5.45 per gallon.
In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $5.45 per gallon by the start 2015. Lee said that gas prices would rise 5 cents for every month Obama was in office, ultimately reaching $6.60 per gallon.
2. In September 2012, Mitt Romney predicted that if Obama is reelected “you’re going to see chronic high unemployment continue four years or longer.” At the time, the unemployment rate was 8.1% and had been between 8.1% and 8.3% for the entire year.
What would breaking out of “chronic high unemployment” look like in a Romney presidency? Romney pledged that, if elected, he could bring the unemployment rate down to 6% by January 2017.
The unemployment rate currently stands at 5.8% and has been under 6% since September 2014. Since January 2013, the economy has created nearly 5 million new jobs.
3. Immediately after Obama won reelection in November 2012, many commenters predicted that the stock market was toast.
4. The entire U.S. economy was supposed to collapse
Rush Limbaugh predicted that “the country’s economy is going to collapse if Obama is re-elected.” Limbaugh was confident in his prediction: “There’s no if about this. And it’s gonna be ugly. It’s gonna be gut wrenching, but it will happen.”
The economic freefall would begin, according to Limbaugh, because “California is going to declare bankruptcy” and Obama would force states like Texas to “bail them out.” California currently has a $4 billion budget surplus.
Limbaugh added, “I know mathematics, and I know economics. I know history. I know socialism, statism, Marxism, I know where it goes. I know what happens at the end of it.”
From Nation of Change