February 29, 2012
Did Rising Gas Prices Cause the Recession?
James Pethokoukis, The American
Rick Santorum is getting much grief for this:
Rick Santorum told an audience Monday that the 2008 recession was caused by high gas prices. He said Americans were unable to pay their mortgages—not because of unsustainable housing prices or reckless lending practices—but because of $4-per-gallon gasoline.
TAGGED: gas prices