A recent blog I posted wondered how President Obama could get so much blame when oil prices were skyrocketing and so little credit now that they’re plummeting.
The Dow Jones Industrial Average fell more than 300 points today, reportedly over concerns about those falling oil prices that are producing dramatic declines in the price of gasoline at the pump.
A USA Today headline suggested this week that the oil price decline threatens the U.S. economic recovery that’s now under way.
Then it came to me.
Obama’s critics now have a hook on which to hang blame on the president.
They just might start harping about those declining prices, which are a result of too much supply and too little demand. They can gripe that the price decline is harming the recovery, which of course had nothing at all to do — in the minds of the critics — with Obama’s economic stimulus package enacted shortly after he became president.
So if they’re going to insist on blaming the president for every single bad thing that happens in the world, they can turn to the declining oil prices as one more sign of a “failed presidency.”