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  • We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn’t pay their mortgages because of $4 a gallon gasoline.

    Rick Santorum
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    "Santorum blames 2008 mortgage crisis on $4-per-gallon gas" by Daniel Strauss, thehill.com. February 27, 2012.
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We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn’t pay their mortgages because of $4 a gallon gasoline. - Rick Santorum
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