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New developments today in a troubling trend for Americans and the nation's economy gas prices shooting up nearly fifty cents in fifty days.
Taking a huge bite -- of the income of Americans who are already earning less because of this year's increased payroll tax and I think we got.
Now -- hit with the beginning of the year.
According to the triple -- the national average price for a gallon of gasoline is now three dollars and 78 cents.
So with your car has a twenty gallon tank it will cost you more than 75 bucks every time you fill -- but you don't need me to tell you that you're experiencing -- It also means -- now paying ten dollars more per fill up than you were just a month ago.
The combination of soaring gas prices and higher taxes are -- threatening the larger economy but the current administration as well.
Chris -- Walters or Fox News -- politics editor -- host a power play on foxnews.com live Chris.
Welcome back it's interesting to read your power play today as it always is let's -- does that count.
-- because you talk about how this is the exact position that the Republicans.
Who wound up getting creamed in that 2006 midterm election found themselves in.
When gas prices were soaring under President Bush and wow did the Democrats -- -- political issue of that.
All of a brutalize the Republicans very effective -- That was the whole that's the central argument the thing that held everything together for Democrats and their attack on the bush here Republicans.
Was gas prices you invaded Iraq and gas prices went up.
You did anything that your economic policies gas prices went up and they hit it over and over and over again and they did it for a year.
And gas was nowhere near even inflation adjusted nowhere new year.
Where it was -- where where it is now.
Eight years ago not even close and Republicans.
Will probably figure out a pretty effective way to use this against Democrats especially with the president pushing global warming stuff.
There's that makes a little too easy.
Well -- had.
You know the president repeatedly sounding that alarm I mean at the inaugural address and at the State of the Union Address he's very focused and green energy.
And you know there is a question about whether.
How well that plays when we see that the prices soaring at the pump but so he hasn't shown any inclination to dial that back.
Could there be a political price -- the Democrats -- in the mid terms for that agenda.
But the magic moment whenever it occurs in the Obama second term when he becomes a lame duck.
Will occur when his own party decides to break with him.
On something significant is the new bold Obama 2.0.
Only lasts as long as Democrats are willing to indulge him.
This certainly with gas prices as high and painfully high and as you pointed out the shrinking shrinking shrinking disposable income for the middle class families the president says he's helping.
Global warming could be the thing where his own party throws up its hands and says you creamed us with this once when you made its mark walk the plank in 2009.
We're not doing it again.
You begin that piece that I refer to your power play right up by quoting Chuck Schumer in 2006 where he wrote where he said it.
-- high gas prices -- are a metaphor for an economy that keeps biting people despite overall good numbers.
Because even though we can talk about things like the stock market.
Which is doing great.
And some other items.
You feel gas prices in a way you don't feel are you feel sort of the increase -- the grocery store you feel gas prices.
And you definitely feel a hit your paycheck and -- a lot of Americans are right now.
That's right and if you're forty dollars a week or because the payroll tax holiday ended and if you're ten dollars a week -- because the cost of filling up your minivan.
Has gone up you do not.
Agree with the president when he says a recovery has begun.
And now that week and now we can afford to have energy costs go up in order to deal with what he believes is man made global warming.
How much is this actually come back to -- the president though because.
You know that the press coverage of what was happening under President Bush when they believe that he had started the war in Iraq in the name of oil and so on.
I -- -- they were all over him back there back then for the high gas prices not quite so much this time around.
No absolutely not and it's it's different it's always harder for Republicans to -- gin up.
Outrage because of the media -- watching this by the sequester debate.
The media is it more inclined to listen certainly to the president.
And certainly to a democratic president.
Can -- reelected one at that.
So it's going to be harder for them to do it but it's something that they can do in the media that they buy when they put ads up in their talking points and what they say.
This is -- house race level this is -- senate races this isn't directly about the president it's about denying him majority in the second half of his second term.
To do the things that he wants that's how Republicans use gas prices they use it against the Obama Democrats in the mid term election.
We'll see how it goes last year prices shot up -- that -- mellowed out.
We'll see where things go from here Chris thanks so much.
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