They would bray for hours on end about how dire the consequences to the economy would be.
Now, with the Obama Regime in power, gasoline prices go up 45 cents a gallon and we’re being told by the Federal Reserve Chairman that there is no cause for alarm.
Federal Reserve Chairman Ben Bernanke said on Tuesday the recent surge in oil prices is unlikely to have a big impact on the U.S. economy but could dampen growth and raise inflation if sustained.
Bernanke told the U.S. Senate Banking Committee he saw increasing evidence that the U.S. economic recovery was becoming self-supporting. But he warned job growth remains far too anemic, indicating he is not considering cutting short the Fed’s $600 billion bond-buying stimulus program.
“We do see some grounds for optimism about the job market over the next few quarters,” Bernanke said, citing a steep recent decline in the jobless rate among other factors.
Bernanke said downside risks to growth had diminished, and stated for the first time that the risk of deflation — a key justification for the Fed’s bond buying — was now “negligible.”
“It’s encouraging to see that the risk of deflation is moderating according to the Fed,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington. “That’s one of the keys that will be necessary for the Fed to wind down its quantitative easing program.”
At the same time, Bernanke did not appear concerned that a recent spike in the price of crude oil, driven in part by a wave of pro-democracy revolutions in the Middle East and North Africa, would do much harm to the U.S. economic outlook.And, as expected, Obama’s Kept-Whores take up that clarion call.
Meanwhile, we, who find themselves paying ever more, ever faster for gasoline are told not to worry?
It’s such a shame so many Americans fall for the duplicity of a hypocritical POS media with a double standard when reporting similar stories but under different administrations.
But the internet does not lie. Thanks to SondraK we have this:
The Democrats were quick to blame Bush over high prices. I’m not hearing any Democrats have as much concern over the prices since Obama got in the White House. Curious isn’t it?
The New York Times reported April 25, 2006:
Representative Nancy Pelosi, Democrat of California, called Tuesday for a bipartisan effort to bring down prices by the end of May. But in a response to Bush’s speech, she said that the recent price rise showed that the Republican administration had been too cozy with the oil industry. “America can no longer afford George W. Bush as president,” she said.
Seems we can’t afford Obama either.
The Washington Times reported on April 25, 2006:
House Minority Leader Nancy Pelosi of California will hold a press conference today to call on the administration to “stop price gouging.”
And Senate Minority Leader Harry Reid of Nevada said
does anyone think it’s fair to have consumers pay $100 a week to fill their fuel tanks…?
I haven’t heard a word from these two since Obama became President. In fact they have been complicit in keeping the U.S. from drilling new sources of oil. They don’t seem as concerned now. Oil companies are making tons of money drilling overseas yet we haven’t heard a thing from Pelosi on “price gouging” during her or Obama’s watch.
On Apri 30, 2008 AZCentral via Washington Post quoted Sen. Amy Klobuchar, a Democrat from Minnesota saying:
People don’t have time for finger-pointing from the White House right now.
They have listened to this president for eight years: for eight years that these gas prices have gone up and up and up, for eight years after these oil prices have gone up and up and up, and they want answers.
We still want answers. The Democrats are quite silent about this now since they basically got what they wanted which was no drilling in America.
We have been debating drilling and exploration with the liberal environmentalists for 10-20 years.
On July 15, 2008 the Washington Post reported:
Senator Dianne Feinstein, Democrat of California, said the president was “deluding the American public into believing that new offshore drilling is a quick fix to $4 per gallon gasoline.” Like others, she noted that drilling offshore would have no immediate effect.
Even if new offshore drilling were allowed off the coast of California and along the outer continental shelf, which I wholly and resolutely oppose, she said, it won’t produce oil in time to solve the gas price emergency American consumers are facing right now.