Thursday, February 16, 2012

The deeper you go into Obama's budget, the worse it looks

By Ed Rogers This type of information about the federal government should alarm anyone who lives in the United States of America. We cannot continue to regulate every a aspect of americans lives without severe economic consequences. We are experiencing them now, what does the future look like when even the type of toilet paper you must use is controlled? Honestly, there is no free lunch, there is a cost to every action that government takes, enough already, stop, stop, stop, danger, stop. JLCpulse The Washington Post Opinion The Insiders By Ed Rogers Ok. Let’s talk about Jennifer Aniston on the cover of the March issue of GQ Magazine. Ha! It was a trick to entice you to read one more piece from me about the 2013 Obama Administration federal budget. In previous posts, I have tried to express alarm about the deficit and the debt and bemoaned the fact that our political budget fight isn’t about competing budgets, but about who is to blame for there not being a budget. I’ve received very little positive reinforcement about my wanting to dwell on the topic. I promise that I probably might not maybe perhaps write about this again. But, beyond the macro numbers and the calamity that they illustrate, when you get into the details of the President’s budget, things get worse. For instance, the President’s budget would harm economic growth by increasing taxes on America’s energy companies by $41 billion over ten years. Who do we think is going to pay that $41 billion? The answer is either a) retirees and investors, through their pension funds that own energy stocks, or b) consumers who will have to pay more for their home power bills or at the gasoline pumps. While the President talked about natural gas during his State of the Union address, his budget silently included more than $40 million of new spending, distributed to eight government agencies to increase the government’s regulation of natural gas fracking. Fracking is the technology that has caused a spike in American production and a huge drop in natural gas energy prices. Natural gas production has been a thriving industry in America for decades and our potential to create U.S. jobs has increased exponentially due to fracking. We don’t need to increase the oversight and spending for eight federal government agencies to harass an industry that is already heavily regulated by the states. The left loves to burn natural gas, but they seem to hate people and places who produce it. The budget numbers and the growth-inhibiting hidden features within the budget may not be a campaign issue, but energy prices will be. And nothing President Obama is doing appears to be friendly toward lower energy prices.

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