The Information Cache of the Stevens Point Area Retired Teachers' Association
Saturday, June 11, 2022
One of those Short-term Memory Lapses
From the Daily Kos:
Just remember, gas cost $5.61 a gallon back in 2008
The media is all aflutter that gas prices are now over $5.00 a gallon. But, if you factor in inflation, the price of a regular gallon of gasoline in 2008, $4.144 in 2008, would cost you $5.61 in today’s dollars.
Don’t just take my word for it, Fortune Magazine made the same point back in March. Back then, the price of gas broke the $4.144 record it hit back in the heart of George Dumbya’s Great Recession.
Adjusted for inflation the real cost of a gallon of gas from July 2008 shoots up to $5.37 in today's dollars—well above the current cost of $4.318 per gallon.
So the next time your crazy MAGAt neighbor (or your favorite MSM source) screams that Biden’s Commie Sociamalism is driving up gas prices, remind him that it was George Dumbya and the GOP that really set the reigning record for gas prices, and nearly collapsed the entire world’s economy, back in 2008.
By the way, the real reason for today’s prices can be traced to three things:
Donald Trump made Putin think he could waltz into Eastern Europe and reclaim “Soviet” lands. This set the stage for today’s inflation and shortages. So unless we just want to hand Ukraine, Poland, Finland, Sweden, all of eastern Europe and likely half of Japan to Putin so we can save a buck a gallon at the pump, we need to shut up and man up and defeat the new Hitler.
And then there’s the COVID Pandemic. Donald Trump and the GOP crashed the economy in 2020 and killed hundreds of thousands of Americans over two plus years by denying the severity of COVID and refusing to take rational actions to combat it, and even now they are driving up cases, hurting the economy, and killing Americans by pretending the pandemic is over.
Oil companies routinely price gouge when Democrats are in office. They like the tax cuts GOP administrations provide and the billions in free taxpayer money the GOP forks over when republicans are calling the shots.