This is the first of my weekly rants. The Democrats are to blame for the sluggish economy and slow growth. And all because of their no growth energy policy. We are the only country in the world that does not allow growth in the supply of energy and no one yet has repealed the law of supply and demand. This micro mananging of the economy has produced the following results.
1. Higher gas prices. Less supply, more demand = higher prices
2. Lower employment. It is estimated that job creation from opening ANWR to exploration and production would created at least 250,000 jobs. Those estimates don't include increases in employment from off shore drilling, on shore drilling (lower 48 states), and infrastructure jobs needed to support production.
3. Significantly higher trade deficit. Analysts are quoting $600-700B of trade imbalance due to petroleum imports.
4. The falling value of the US dollar which constrains the Federal Reserve's monetary policy
5. Higher inflation due to higher energy prices.
6. The effect of all the above is higher unemployment.
The Democratic leadership, who are held hostage by the environmentalists and global warming fanatics, has failed the people of this country. That leadership includes Barack Obama. If Obama truly wants to show he is a leader than he needs to pressure Nancy Pelosi and Harry Reid to schedule a vote on the energy bill which at least would open up off shore drilling.
The law of supply and demand is still in effect as is the law of unintended consequences. When the Democrats micro manage the economy the consequences, unseen at the time, can have consequences that last a lifetime.
Tim
No comments:
Post a Comment