Every price increase of just a dime per gallon of gasoline at the pump extracts approximately $5 billion from the pockets of U.S. consumers over the course of a year.
On top of killing family budgets, with a dollar per gallon jump at the pumps picking our pockets of $50 billion per year, there is on the macro level an inverse relationship between the price of oil and the overall health of the economy — oil price hikes deliver less job growth, less demand for labor, more unemployment, more poverty, more inequality, more inflation, lower real income increases, and smaller advances in the standard of living. Continue Reading »
by Bruce Walker –
The political courage shown by Governor Walker and Republican legislators in Wisconsin should be an object lesson to all conservatives: Be bold! Those who oppose us, those who have infested the institutions of American life and the organs of American government, and those who live at the expense of our sweat and our pride will show us no quarter. While our war for the soul of America is peaceful in the sense that it involves no physical violence, it is still total war.
The nauseating comments by the leftists overlords of NPR about the Tea Party show how much these leftists hate and fear us. The indecent firing of Juan Williams was more evidence of the willingness of the intolerant left to fight without scruple against anyone who does not slavishly follow the party line — even those who still sincerely believe some bits and pieces of leftist mythology. The scurrying Democrats from the Wisconsin Senate show contempt not just for Republicans, but also for the voters who elect them. The thuggish behavior of Wisconsin schoolteachers shows that we cannot assume that these hirelings are honorable. Continue Reading »
by Victor Volsky –
The world is going to hell in a hand basket; Japan, ravaged by an earthquake and a tsunami of biblical proportions, is teetering on the brink of yet another, nuclear, disaster; the Middle East is aflame; the national debt is skyrocketing while Congressional Democrats and Republicans are mud-wrestling over the budget; gas prices are inexorably climbing to the psychologically devastating $4/gallon level — and meanwhile what is the U.S. President doing?
Amid all the turmoil, he discusses an apparently world historical issue of school bullying; honors the 2009-10 Stanley Cup Champion Chicago Blackhawks; delivers a radio address on another all-important subject, “Women’s History Month;” attends a fund-raiser; goes golfing (that darned weather: it was just too nice for the President to resist the temptation of hitting the links — for the 61st time in his two plus years in office); yuks it up with the Washington press corps (pronounced “k-o-r”, not “k-o-r-p-s,” try to remember this, Mr. President) at the annual Gridiron Dinner. And to top it all off, the crowning event in Barack Obama’s busy schedule — drum roll, please! — videotaping his NCAA tournament bracket picks. (Think about it: Obama discusses basketball with authority, which means that he must be spending a lot of time watching the games and listening to sports commentators. Exactly what he was elected for, wasn’t he?) While Rome burned, Nero fiddled. While the world burns, Obama ponders the outcome of a college basketball tournament. Continue Reading »
by Jeffrey Folks –
In terms of energy policy, as in so much else, the Obama administration is in leaderless disarray. The only thing it seems capable of doing is delaying and shutting down energy production. As soon as some promising new supply pops up, like the shale gas capable of fueling America for the next century, the Obama EPA is there launching an environmental study designed to regulate and restrict it. At the moment when new energy supplies are most needed, there are no plans to increase supplies — only plans to reduce them. One would almost think that this President wants to bring America to its knees.
Meanwhile, for the Chinese and other fast-growing economies, it’s full speed ahead on new energy projects. Chinese oil companies are pursuing new oil and gas exploration on a global scale, even in the mainland U.S. They are buying up oil and gas leases in Asia, Africa, Latin America, Europe, and North America, including just offshore Louisiana in the Gulf of Mexico. Continue Reading »
by Emily Miller –
Congressional Democrats and President Obama are blocking every effort by Republicans to cut runaway government spending, leaving Washington at a stalemate. Senate Majority Leader Harry Reid (D.-Nev.) even failed to pass a token spending cut last week. House Minority Leader Nancy Pelosi (D.-Calif.) has fought any cut from current spending levels in a Continuing Resolution (CR). And, Obama announced for the second time that he will veto the Republican spending cuts, while he refuses even to negotiate with Congress on the budget.
After months of refusing to cut any spending, Senate Majority Leader Harry Reid (D.-Nev.) finally came out with a Democratic offer to cut spending for this current fiscal year by a mere $4.7 billion. The budget deficit for the current fiscal year is projected to be $1.6 trillion. So, the Senate Democrats’ spending cuts would lower the federal deficit by a mere .004%.
“At a time when Washington is borrowing about $4 billion a day, Democratic leaders want to cut about four and a half billion in government spending for the rest of the fiscal year and then call it a day,” said Senate Republican Leader Mitch McConnell (R.-Ky.). Continue Reading »