Obama has been elected for his second term. His detractors were all claiming that so many things would happen during this second term. How close were they to what actually happened?
1. Gas Would Peak at $5.45 per Gallon Mike Lee (R-UT) claimed that if Obama was reelected, gas would go up to $6.60 per gallon. Lee was not the only one claiming these prices. Republican Newt Gingrich claimed prices could go as high as $10 a gallon. Today’s average gas prices are $2.24 per gallon.
2. Unemployment Would Stay Above 8% Mitt Romney predicted that if Obama was reelected, we would continue to see massive unemployment for a long time to come. At the time, the unemployment rate was 8.1%. Romney claimed if he was elected, he could bring unemployment down to 6%. Today the unemployment rate is 5.8%, lower than what Romney himself thought was the best he could do.
3. Huge Stock Market Crash Donald Trump attacked Obama on Twitter after his reelection, claiming the drop in currency and stock prices was due to Obama. Other experts claimed there would be no end in sight for the dropping prices. At this time, the stock market is currently over 35%, much higher than the 20% claimed by experts at the time.
4. U.S. Economy Collapse Many conservative, like Rush Limbaugh, claimed the U.S. economy would completely collapse if Obama was reelected. Since Obama’s reelection, the economy has been steadily climbing.