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In 1976, oil was 13.10 a barrel, and by 1980, it was 37.42 a barrel. Reagan comes in and takes it all the way back down 14.87 in 1988. So as long as we're blaming Bush for the high oil prices, even though the U.S. produces such a small percentage of the world's oil supply, then I guess we can blame Carter for the same, since the U.S. produced a higher percentage back then.
Looks like Carter's clone might get elected, perhaps we can expect another tripling, to 400 bucks a barrel, to go with the high inflation, interest rates and unemployment that we had when Jimmy was in office. Add in the doubling of the capital gains tax, the increase of the inheritance tax, letting Bush's tax cuts expire (resulting in the highest increase in taxes on the middle class in more than 50 years) and we have a recipe for disaster. Best of luck fellas.
Looks like Carter's clone might get elected, perhaps we can expect another tripling, to 400 bucks a barrel, to go with the high inflation, interest rates and unemployment that we had when Jimmy was in office. Add in the doubling of the capital gains tax, the increase of the inheritance tax, letting Bush's tax cuts expire (resulting in the highest increase in taxes on the middle class in more than 50 years) and we have a recipe for disaster. Best of luck fellas.
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