sunset from behind the wire

sunset from behind the wire

Thursday, January 4, 2018

Will We Grow Out of It?

The Dow Jones Industrial Average is teetering on 25,000; economic growth is pushing along at +3%; businesses and individuals are paying less tax; government regulations have been eliminated to the extent prudent and the US is oil/energy independent and has begun to export. The Arctic National Wildlife Refuge (ANWR), said to float on a vast sea of oil is being explored and drilling leases will be sold there. The taxpayers will win with ANWR and leases on other government land (forbidden during the years of Obamanation) both in profit from drilling leases, in well paid drilling jobs and everything that supports drilling crews and infrastructure, in export taxes paid by oil companies and in profits that will flow back to the US from foreign sales.

And we have a $20 trillion deficit, half of which was accrued under Obama's watch (not all his fault, but a lot of it was). If you've followed this blog long enough, I've said for a long time that the only way that I could see the US dredging itself out of the financial hole it sank into was through oil. The US/Canada have the world's largest proven oil reserves - larger than the Saudis. Some of that oil and gas was difficult to access in the past but technology has provided the solution and we're able to profitably extract it now.
California, ever the opportunistic state, has slapped a $1.00 per gallon excise tax on the retail sale of gasoline to further social justice, income redistribution, and coddling non-US citizens who are encouraged to vote for the Democrat of their choice in elections. Some people claim that it's insanity and many people are fleeing the People's Republik for those and other related reasons.
Some have had enough of California and are seeking
sanity and sanctuary elsewhere.
The sly, corrupt, lying, elite media don't focus on the economic improvements that America saw over the last year, but they are considerable and the booming stock market affirms it to the shame of the RINOs and Democrats, whose interest is in personal profit, corruption and power - not in providing beneficial leadership for America.

Still remains the question of whether or not America will grow its way out of the $20 trillion debt? At this point the answer is unknowable. However, robbing those who work and applying principles of income redistribution to those who do not will not solve any part of the problem (except to help the corrupt remain in power).