It has been over a full year since the stimulus became law, and it is, in fact, highly logical that our economy is worse than before the stimulus. Unemployment is higher - as is the unemployment rate - because business owners have less money to hire new workers, expand their business or to purchase additional goods and services. They would have more money, except that it's been taken from them and given to folks that are not in a position to ... hire new workers, expand a business or purchase additional goods and services.
Friday, June 24, 2011
Wednesday, June 22, 2011
It is not credible for the administration to endorse Ben Bernanke's decision to flood the world with dollars — and then denounce China for manipulating its currency.
Bret Stephens, WSJ (link requires subscription)
This is exactly what the thugs in the middle East have been doing for 50 years. They demonize Israel so as to distract their populations from their economic failure and absolute oppression.
We must not allow this to continue. We must elect new leadership.
Saturday, June 11, 2011
Government agencies are made up (for now at least) of a minority of our population. Yet they make decisions that affect people of every walk of life. Modern American liberalism is content with this, since those agencies are made up of specialists, who presumably know more about their field than the rest of us. For a liberal, that superior knowledge gives them the authority to make those decisions.
The reality is, though, that the men and women who make up those agencies cannot possibly possess enough knowledge to surpass the population at large. The citizenry has, collectively, the benefit of its full experience and knowledge. Therefore, citizens make far more productive decisions and make far better choices than government agents.
Government agencies have no right to favor certain industries with subsidies, and penalize others with additional taxes. They do it anyway ... and we can see the entirely predictable results: anemic growth across broad swaths of our economy.
Except for the government agencies.
Tuesday, June 7, 2011
If they were truly serious about energy independence, then they would stop blocking the development of the abundant natural resources in our own backyard. The North Slope pipeline in Alaska can safely transport upwards of 2.2 million barrels of oil each day from the oil fields to the refineries. Currently, there are three untapped oil fields in Alaska: the National Petroleum Reserve, the Chukchi and Beaufort Seas, and the 0.0087% of the 23 million acre ANWR that is necessary to begin oil production. Those fields contain an estimated 60 billion barrels of oil. At the peak transport capacity of 2.2 million barrels a day, that is over 70 years of production.
Is that a permanent answer? No. But it is a safe and affordable alternative to foreign oil that would give us time to develop other non-petroleum based fuel sources.
If our government was serious about energy independence, they would open these areas up for oil production.