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{"id":33163,"date":"2016-01-02T18:39:45","date_gmt":"2016-01-03T00:39:45","guid":{"rendered":"http:\/\/www.occasionalplanet.org\/?p=33163"},"modified":"2016-01-02T18:42:47","modified_gmt":"2016-01-03T00:42:47","slug":"its-2016-what-happened-to-all-those-dire-obama-hating-predictions","status":"publish","type":"post","link":"https:\/\/occasionalplanet.org\/2016\/01\/02\/its-2016-what-happened-to-all-those-dire-obama-hating-predictions\/","title":{"rendered":"It’s 2016: What happened to all those dire, Obama-geddon predictions?"},"content":{"rendered":"

\"bon-52833849856_xlarge\"<\/a>Now that it’s 2016, it’s time to fact-check some of the end-of-the-world-as-we-know-it predictions that President Obama’s critics made before his 2012 re-election. In an article published today, Think Progress<\/a> highlights four big things that were supposed to happen by 2016, if Obama were re-elected. [Spoiler alert: They didn’t.]<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\n

1. Gas was supposed to cost $6.05 per gallon.<\/h2>\n

In March 2012, on the floor of the United States Senate, Mike Lee (R-UT) predicted that if Obama was reelected gas would cost $6.05 per gallon by the start 2015<\/a>. Lee said that gas prices would rise 5 cents for every month Obama was in office, ultimately reaching $6.60 per gallon.<\/p>\n

Lee was not alone. Newt Gingrich, running for the GOP nomination, predicted that if Obama was reelected he would push gas to \u201c$10 a gallon<\/a>.\u201d Gingrich said he would reduce gas prices dramatically by reversing Obama\u2019s energy policies. Gingrich flanked himself with campaign signs promising $2.50 gas if he was elected.<\/p>\n

Today, the nationwide average for a gallon of gas is $2.00<\/a>.<\/p>\n

Some of the reasons for the decline in gas prices were beyond Obama\u2019s control \u2014 including weak international demand and OPEC\u2019s failure to reduce supply<\/a>. Also driving prices lower was increased gas production in the U.S., which has doubled over the last 6 years. The policies that Lee, Gingrich and others criticized \u2014 the rejection of Keystone XL pipeline, more EPA regulation and limiting drilling on public land \u2014 have not gotten in the way of historically low prices.<\/p>\n

2. Unemployment was supposed to be stuck at over 8%<\/h2>\n

In September 2012, Mitt Romney predicted that if Obama is reelected \u201cyou\u2019re going to see chronic high unemployment continue four years<\/a> or longer.\u201d At the time, the unemployment rate was 8.1%<\/a> and had been between 8.1% and 8.3% for the entire year.<\/p>\n

What would breaking out of \u201cchronic high unemployment\u201d look like in a Romney presidency? Romney pledged that, if elected, he could bring the unemployment rate down to 6% by January 2017<\/a>.<\/p>\n

The unemployment rate currently stands at 5.0%<\/a> and has been under 6% since September 2014. Since January 2013, the economy has created over 7.8 million new jobs<\/a>.<\/p>\n

3. The stock market was supposed to crash<\/h2>\n

Immediately after Obama won reelection in November 2012, many commenters predicted that the stock market was toast.<\/p>\n

Charles Bilderman, the author of the \u201cIntelligent Investing\u201d column at Forbes, wrote that the \u201cmarket selloff after Obama\u2019s re-election [was] no accident,\u201d predicting \u201cstocks are dropping with no bottom in sight.\u201d Bilderman said that the policies the Obama administration would pursue in his second term would \u201ccrash stocks<\/a>.\u201d<\/p>\n

On Bloomberg TV, investor Marc Faber predicted that, because of Obama\u2019s reelection, the stock market would drop at least 20%<\/a>. According to Faber, \u201cRepublicans understand the problem of excessive debt better than Mr. Obama who basically doesn\u2019t care about piling up debt.\u201d Faber joked that investors seeking to protect their assets should \u201cbuy themselves a machine gun.\u201d<\/p>\n

The Dow Jones Industrial Average currently stands at 17,425.03 and, despite a downturn in 2015, is up over 27% since Obama was reelected<\/a>.<\/p>\n

4. The entire U.S. economy was supposed to collapse<\/h2>\n

Rush Limbaugh predicted that \u201cthe country\u2019s economy is going to collapse if Obama is re-elected<\/a>.\u201d Limbaugh was confident in his prediction: \u201cThere\u2019s no if about this. And it\u2019s gonna be ugly. It\u2019s gonna be gut wrenching, but it will happen.\u201d<\/p>\n

The economic free fall would begin, according to Limbaugh, because \u201cCalifornia is going to declare bankruptcy\u201d and Obama would force states like Texas to \u201cbail them out.\u201d California currently has a $4 billion budget surplus<\/a>.<\/p>\n

Limbaugh added, \u201cI know mathematics, and I know economics. I know history. I know socialism, statism, Marxism, I know where it goes<\/a>. I know what happens at the end of it.\u201d<\/p>\n

Limbaugh said the economic apocalypse could take \u201ca year and a half, two years, three years<\/a>.\u201d It\u2019s been three years and two months since Limbaugh\u2019s prediction.<\/p>\n

The U.S. economy grew at a respectable 2% in the 3rd quarter of 2014<\/a>, following 3.9% growth in the second quarter.<\/p><\/blockquote>\n

Happily, for Americans of all political persuasions, predictions for Obama-geddon didn’t pan out. In fact, we’ve actually had a pretty decent run. I shudder to think how things might have been–especially for people without membership cards for the top 1 percent club–had we elected Mitt Romney in 2012. And with today’s Republican field of presidential candidates, we could be in even deeper doo-doo if one of them makes it all the way. Any Democrat would be better than any of these clowns. As a very smart person [my sister] said here <\/a>on Occasional Planet yesterday, make it your most important New Year’s resolution to vote in 2016.\u00a0 And for gawd sake, vote for the Democrat.<\/p>\n","protected":false},"excerpt":{"rendered":"

Now that it’s 2016, it’s time to fact-check some of the end-of-the-world-as-we-know-it predictions that President Obama’s critics made before his 2012 re-election. 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