General Discussion

louis c

(8,652 posts) Fri Oct 12, 2012, 05:46 PM Oct 2012

The Truth, the Whole Truth and Nothing but the Truth

Last edited Fri Oct 12, 2012, 09:51 PM - Edit history (1)

Did you ever wonder why that phrase is used when swearing in a witness in a court of law? Why do we say that, instead of just saying, "Do you swear to tell the truth" Period?

Let me give you an example of the truth being misleading, if you don't include the phrase "the whole truth and nothing but the truth".

Gas prices are the example I'll use today.

Republicans love to proclaim that gas prices have more than doubled since Barack Obama took office. That's the truth. Gas was about $1.69 a gallon on January 20, 2009. But it's not the "whole truth and nothing but the truth".

In June of 2008, just 6 months earlier, gas prices were $4.08 a gallon, a price more than 20 cents higher than today's average price for a gallon of gas. http://money.cnn.com/2008/06/30/news/economy/gas/index.htm

You see, in June 2008, no one knew what was about to happen on September 15, 2008. The speculation was that the false economy could continue. The bubble had not yet burst. Lehman Brothers had yet to collapse. Commodity speculators were still gung-ho on the American economy.

The Republican economic principals, in June of 2008, were not yet fully known. The third quarter of 2008 saw a 3% GDP contraction and a half million jobs lost. The last quarter of 2008 saw a 9% GDP contraction, job losses mounted from 500,000 jobs lost a month in September and October of 2008 to 850,000 jobs lost in January, 2009.

As a result of the existing economic disaster and the fear that it would get even worse, it caused a world-wide economic slow down, the likes of which we had not seen since the 1930's. The result was that world-wide oil demand shrank as the fear grew, and the world's economies teetered on the brink of complete collapse. The price of fuel plummeted.

As the economy has improved and the fear has dissipated. As job and GDP growth, tepid as they may be, continues. As economic confidence grows, the price of oil, and hence, the price of a gallon of gas has increased. But even with this recovery and because of production and conservation measures developed by the Obama Administration, the price is still well below the June, 2008 peak price.

If the Republicans plan on using the same failed method method they used in 2008 to reduce the price of a gallon of gas from $4.08 a gallon to $1.69 a gallon, and the American people know not just the "truth", but the "whole truth and nothing but the truth", they may not pine for the days of $1.69 a gallon gasoline and another Republican setting Republican economic policies in the White House.