Don't Blame Bush

From the time I first heard Obama crying about what he inherited regarding the economy my response was to think and say to myself, "This was no inheritance. It's what you brought with you." The Democrats had dictatorial, unencumbered, veto-proof charge of the purse strings during the last two years of the Bush administration. This article written by Thomas Sowell in September 2010 expresses exactly what I've been saying to anyone who would listen:

http://washingtonexaminer.com/node/460586

I also appreciate Sowell pointing out that President Clinton had the benefit of a Republican Congress for the last six years he was in office. Let's give credit where credit is due for the surplus he likes to brag about.

A video on You-Tube is also something that should be dusted off from time to time to see and hear in the Democrats own words who was responsible for the crash in the housing market - click on the Barney Frank pictures:

http://www.youtube.com/watch?v=_MGT_cSi7Rs

I would also like to remind Bush-bashers that the Bush tax cuts brought about 54 months of economic growth that was only slowed when the OPEC countries declared economic war on us in 2008 when they gradually brought the price of their oil to the peak of $147 a barrel. We chose to be reliant on them for our oil needs instead of being self-reliant as we could have been.

Check out this video on You-tube by Professor Steve Horwitz on oil:

 http://www.youtube.com/watch?v=AcWkN4ngR2Y

U. S. Oil Resources

Attorney General, Eric Holder, said we're a nation of cowards. No, but to some degree we are a nation of idiots and in economic straits we don’t have to be in. That is, enough of the populace to put a roadblock in the way of letting us make use of our own vast resources of oil and natural gas. They'd prefer to keep us beholden to hostile foreign nations for our oil needs. Our economy would skyrocket. The cost of energy to run our vehicles, heat our homes would be down and family budgets would be more manageable. Costs of all commodities and travel expenses would be lower. The fear of falling behind paying bills and mortgage payments could all but vanish and the entire economy would flourish. A good example of this is North Dakota where the unemployment rate is 3.5% and their economy is flourishing because of the income and revenue that's coming in through the use of their oil.

Whether the enviro ideologues like it or not, this country uses oil. And the means by which this country mines the oil is likely a lot more friendly to the environment than the way it's done in third world countries.

The United States is second only to Russia in its vast resources of oil and natural gas. The Internet has a world of information about this. Unfortunately, because of federal mandates due to the influence of wealthy environmentalists most of those stores are locked away. Check out the information this link leads to:

http://www.wealthwire.com/aqx_p/25727?gclid=CO3PiOjGhagCFdMD5Qodsk9fJw

Watch this program on You-Tube or go to my post on Facebook "Are we running out of resources?" by Professor Horwitz:

http://www.youtube.com/watch?v=AcWkN4ngR2Y

The income and the wealth we would create by energetically producing our oil and natural gas would enable us to ambitiously research and develop renewable sources of energy and provide the hope for a time when fossil fuels would be found to be almost entirely obsolete as a source of energy. We don’t have to keep the country in a state of chaos by keeping oil resources off limits to incentivize us to develop renewable sources of energy.

Not being independent of foreign oil also creates complications with our foreign affairs, especially with hostile Middle East Nations. And the wealth it would create would enable us to clear up our debt to other nations. We currently owe China close to a trillion dollars and Japan 8.6 billion. Iran and Libya, of all places, are also on the list of our creditors.

Obama and oil

Obama says he wants to reduce our dependence on foreign oil by 1/3rd in ten years. He wants to do this by developing renewable sources of energy.


We don't have to wait ten years to get the economy moving. All we have to do is to start to earnestly develop our own vast resources of oil and natural gas. The United States is the second richest nation in the world in oil stores, surpassed only by Russia according to geologists' reports. Check out the information on the Internet this link leads to:  http://oilshalegas.com/bakkenshale.html

It's about the oil deposits in the Williston Basin in Montana, North and South Dakota and Saskatchewan. Geologists findings indicate that there is more oil there than there is in Saudi Arabia. The revenue generated by being energy independent through the use of our own oil would go a long way to provide the funds we need for research and development of renewable sources of energy. We've got the horse behind the cart if we're going to put our efforts into developing renewable sources of energy while we struggle with a stagnant economy because we don't want to tap our oil resources. It's like a family living on welfare while they have a treasure buried in their back yard.

We currently send a trillion dollars every year a half out of this country to foreign nations - some of whom are not very friendly - for our oil needs that we could be producing right here that would put our own people to work.

The very knowledge that we're going all out to tap our own oil deposits would cause the oil producing nations we've been choosing to put our dependence on to immediately start cutting back their prices - if for no other reason but to hopefully disincentivize us from drilling.

We could be competitors on the world market and be reducing our debt to foreign nations by giving them oil to credit toward that debt.

We owe China close to a trillion dollars and Japan 8.6 billion. And, unbelievably, we owe a sizable portion of our national debt to Libya and Iran. What does that do in matters of conducting our foreign affairs?