Obama: Rising Gas Prices Means The Economy Is Strengthening

At a press event on the payroll tax cut yesterday, President Obama mentioned how extending the proposal would help Americans pay for gas as the price increases.

Obama attributed the growing price of oil to a strengthening economy which in turn means demand for oil increases.

"And when gas prices are on the rise again because as the economy strengthens, global demand for oil increases. And if we start seeing significant increases in gas prices, losing that $40 could not come at a worse time," Obama said.