You might have noticed that gas prices are at all time highs, historically, for this time of the year. You might think that such high fuel prices would have negative effects on the economy. Don’t worry though. Steve Hargreaves at CNNMoney is here to let us know that rising gas prices really aren’t anything to worry about.
Gas prices are once again dominating the national debate.
But despite rhetoric, high gas prices aren’t hurting as much as they used to.
I wonder what has changed? If I were cynical, I might claim that the nature of CNN’s analysis is different because Obama is president, not Bush. Of course, to back up such a claim I would need examples, like this article on CNN from June 9, 2008.
Before departing the White House early Monday for a farewell tour of Europe, President Bush stole a page from his predecessor and suggested he feels American consumers’ pain.
“A lot of Americans are concerned about our economy,” Bush said. “I can understand why. Gasoline prices are high, energy prices are high. I do remind them that we have put a stimulus package forward that is expected to help boost the economy. And of course, we’ll be monitoring the situation.”
Americans are looking for more action, though, than monitoring the situation.
But while gas prices keep soaring…
Emphasis mine. Let’s examine those points. Bush stole, so he’s a thief. He is promising help but all Americans (all of them) are looking for actions not monitoring and words. And of course, gas prices are soaring upwards, meaning Bush’s failure is just getting worse and worse. Well it’s a good thing this older article is from CNN and not CNNMoney. Thankfully CNNMoney would never contradict itself, right? Wrong.
When President Bush announced that the government would begin distributing economic stimulus checks on Monday, he did so in the shadow of ever-rising gas prices.
The point is to boost the flagging U.S. economy. But record gasoline prices mean that up to a third of stimulus payments could be spent buying gasoline, most of which is imported from abroad.
Yikes! Do you all remember? (That article is from April 25, 2008.) We were under the shadow of ever-rising gas prices and the U.S. economy was flagging because of it. Yes, Mr. Hargreaves I wonder what has changed to make CNNMoney’s opinion so different?
I’m not shocked of course at this blatant hypocrisy and you shouldn’t be either. I am more surprised that the articles weren’t accompanied by the following, unbiased images.
Soaring, ever-rising gas prices and the flagging U.S. economy under Bush:
Painless high gas prices under Obama have minimal impact and are of no cause for concern (and certainly shouldn’t effect your vote for president…please, oh please):