At last night’s debate, President Obama said gas prices were under two dollars per gallon when he took office because the “economy was on the verge of collapse.” And that if Mitt Romney were elected he “could bring down gas prices, because with his policies we might be back in the same mess.”

The inference of President Obama’s comments is clear; gas prices are near four dollars per gallon because of economic growth. Which raises the question, what can we expect gasoline prices to be four years from now with the President’ promised expanded recovery? After all, second quarter gross domestic product growth was 1.3 percent; the average rate since 1948 has been 3.2 percent per year.