March 21, 2012

What liberal media?

Who knew? CNN Money says "Rising gas prices aren't as bad as you think."

In 1981, when oil prices spiked following the Iranian Revolution, gasoline represented nearly 5% of the nation's spending, according to the Bureau of Economic Analysis. In 2011, only 3.7% of spending went to gas, even though prices averaged at their highest level ever that year.

In addition to spending less, we're driving more than ever -- 90% more than compared to the early '80s, according to the Federal Highway Administration.

Whoa! So all's wine and roses! But hey -- then there's this much-belated defense of, of all things, high gas prices under President George W. Bush:

For example, in 2008 gas prices were all over the news when they hit their all time high. But in 2010 when prices fell people barely mentioned them. Yet spending on gas totaled only $12 more per week in 2008 than in 2010, according to numbers provided by the Bureau of Labor Statistics. That $12 per week is roughly the same amount that BLS figures show people spent on "pets, toys, hobbies and playground equipment."

Where was this defense when Bush needed it, eh? Oh, right -- CNN Money was running stories like this. And, we got all this. Ah well, this sort of media defense of Obama certainly isn't new -- just over one year ago we saw very similar headlines going to bat for The Messiah.

Posted by Hube at March 21, 2012 04:20 PM | TrackBack

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