How did Republicans Fare in their Predictions of What Would Happen in Obama's Second Term?

Steve KinsmanStarred Page By Steve Kinsman, 2nd Jan 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/417qxr1p/
Posted in Wikinut>News>Politics

It turns out that Republican politicians are very poor prognosticators.

The price of gas will climb through the roof

Senator Mike Lee, Republican from Utah, predicted on the floor of the Senate in March of 2012 that if Barack Obama was reelected the price of gasoline would be climbing to $5.45 per gallon by the start of 2015, rising by 5 cents a gallon during the course of his presidency, so that by the time Obama would leave office it would be priced at $6.60 per gallon.

Nice call Mike.

Newt Gingrich, while running for the Republican nomination, predicted in 2012 that if Obama was reelected he would push gas to "$10 a gallon." Gingrich promised to reverse Obama's energy policies, calling for approval of Keystone XL, limiting the power of the Environmental Protection Agency to regulate and opening public lands to drilling. Those measures would result in gasoline being priced at $2.50 a gallon if he were elected president, Newt informed us.

The nationwide average at the pump of regular unleaded gas is, as of today, January 2, 2015, $2.28 per gallon.

Nice call Newt.

Unemployment will remain sky high

In September of 2012, Republican presidential candidate Mitt Romney warned that an Obama reelection would keep the level of unemployment in America sky high. "You're going to see chronic unemployment continue for four years or longer," intoned Milt. He then promised that if elected he would bring the unemployment rate down to 6% by January, 2017.

Unemployment currently stands at 5.8% and has been under 6% since September 2014.

Nice call Mitt.

The stock market will crash

The author of the "Intelligent Investing" column in Forbes Magazine, Charles Bilderman, wrote shortly after Obama's reelection that the "market sell-off after Obama's re-election was no accident....Stocks are dropping with no bottom in sight." Obama's policies, wrote Bilderman, will "crash stocks."

Investor Marc Faber predicted on Bloomberg TV that Obama's reelection would result in a 20 percent market drop. Faber said "Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt." He then joked that investors looking to protect their assets need to "buy themselves a machine gun."

The Dow-Jones Industrial Average is currently at 17, 823 and has been setting record highs all during Obama's second term. Currently it is up 35% since he entered his second term.

Nice call Charles,
Nice call Marc.

And then there is Rush

Rush Limbaugh, the boss man of the Republican party, predicted as soon as Obama was reelected that "the country's economy is going to collapse if Obama is re-elected. There's no doubt about this. And it's gonna be ugly. It's gonna be heart-wrenching."

The economic meltdown would begin because "California will declare bankruptcy," which will force states like Texas to "bail them out." (California currently has a budget surplus of 4 billion dollars.)

"I know mathematics, and I know economics. I know socialism, statism, Marxism, I know where it goes. I know what happens at the end of it." Then he predicted that the economic apocalypse would occur "in a year-and-a-half, two years, three years."

Rush, technically, has another ten months to be proven right. However, the U.S. economy grew at a very robust 5% in the third quarter of 2014, which followed a second quarter gain of 4.6%.

Nice call Rush.

Link: How Bad is the Record of the Obama Administration that resulted in a Republican Landslide in the Mid-Terms?

Wall street photo from redflag.com
All others from wikimedia commons

Tags

Donald Trump, Mitt Romney, Newt Gingrich, Political Pundits, Punditry, Pundits, Republicans, Steve Kinsman

Meet the author

author avatar Steve Kinsman
I live in California with my wife Carol, where I have been practicing professional astrology for 35 years. I write articles on astrology, but I enjoy writing on a variety of other subjects as well..

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Comments

author avatar Mark Gordon Brown
2nd Jan 2015 (#)

Looks like I won't be asking a Republican to predict the lottery numbers any time soon, pretty bad to be off so much.

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author avatar viewgreen
2nd Jan 2015 (#)

Informative article and thank you for sharing this great information.

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author avatar snerfu
3rd Jan 2015 (#)

Election is always a big joke but like Mr Kinsman says some jokers are bigger than the others.

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author avatar Retired
3rd Jan 2015 (#)

One thing that is absolutely certain - Barack Obama will go down in history with a much better reputation than that of George W Bush!

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author avatar Shamarie
3rd Jan 2015 (#)

President Obama is doing a great job proving them wrong! Great article, Steve!

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author avatar cnwriter..carolina
4th Jan 2015 (#)

wow...what more to say...those rubs...i mean rebs love to lead astray...ha!

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author avatar M G Singh
12th Jan 2015 (#)

Excellent post Steve. All said and done Obama was a better President.

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author avatar M G Singh
12th Jan 2015 (#)

Excellent post Steve. All said and done Obama was a better President.

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