Obama on Low Gas Prices: "You're Welcome"

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In a speech at Ivy Tech Community College in Indianapolis, Indiana on Friday President Obama took credit for the lower price of gas at the pump. However, he warned "at some point they are going to go back up."

"We're as free of foreign oil as we've been in 30 years," Obama said. "We've doubled the amount of clean energy that we're producing. A lot of families are saving a lot of money at the gas pump, which is putting some smiles on folks' faces."

"You're welcome," Obama said to tepid applause.

PRESIDENT OBAMA: All told, over the past 59 months, the private sector has added about 11.8 million -- so that's almost 12 million -- new jobs. And that's the longest streak of private sector job growth in our history. Meanwhile, our deficits are shrinking, they've gone down by about two-thirds. Our drop-out rates are down. Our graduation rates are up. We're as free of foreign oil as we've been in 30 years. We've doubled the amount of clean energy that we're producing. A lot of families are saving a lot of money at the gas pump, which is putting some smiles on folks' faces.

You're welcome. Although I was telling somebody the other day at some point they are going to go back up so don't start, you know, going out there and ignoring the mileage when you're buying a new car. So you've got to keep looking for those savings.

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