Tuesday, January 06, 2009


The Bush Legacy Projects rolls on. Today's Washington Times offers a curious new talking point:

Price dip adjusts Bush's gas legacy
More cash left in consumers' pockets seen as fiscal boost

A once-popular bumper sticker says simply, "When Bush took office, gas was $1.46." It was meant to be a slam, but as the end of his eight years approaches, President Bush is seeing gas prices that, adjusted for inflation, are lower than when he was inaugurated.

Last week's $1.59 -- the average for a gallon of regular on Dec. 29, according to the Energy Information Administration -- works out to $1.33 in 2001 dollars, or 9 percent less than it was the day Mr. Bush took office. The tumble in prices, from a high of more than $4.05 in early July, has meant incredible savings.

Yup -- we had months of gas-price hyperinflation, and now we have gas-price deflation. And that crazy instability is a good thing. Well, done, W!


... Republicans said Democrats should issue a mea culpa.

"I wonder if the same people who blamed the president for the increase in prices will now credit him with the reduction in prices. It's only fair," said Don Stewart, spokesman for Senate Minority Leader Mitch McConnell, Kentucky Republican....

Sure, I'll credit him. I'll credit him for not lifting a finger to prevent the destruction of the global economy, thus reducing demand for fossil fuels planetwide so much that prices are now cratering. I'll happily credit him with that.

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