One of the fatal miscalculations that has plagued the Obama administration is their complete, total and utter misunderstanding on how energy prices affect the economy.
Our friends over at Political Calculations have done a great job trying to explain this to the White House for the past year.
When gas prices go up, says PC, new unemployment claims follow a few weeks later as fuel costs eat into money that would otherwise go to labor costs.
Breaking on TOWNHALL
- CIA confesses: Yeah, we hacked the Senate’s computers Noah Rothman 51 minutes ago
- Bill Clinton, September 10, 2001: I could have killed Bin Laden once but called it off because of civilian casualties Allahpundit 1 hour ago
- Is Hamas calling it quits? Noah Rothman 2 hours ago
- House may vote on bill that would block Obama from expanding executive amnesty for illegals Allahpundit 2 hours ago
- Debbie Wasserman Schultz issues clear condemnation of Obama Noah Rothman 4 hours ago
- Media reacts to Lois Lerner’s new email: ‘Hard to argue’ no political bias there Noah Rothman 4 hours ago