Amid all the grandiose, non-specific commitments to American energy and the gobs of subsidies, tax incentives, and handouts he threw around at the State of the Union last night, President Obama picked up on the same common conservative vernacular – and McCain campaign slogan – as White House press secretary Jay Carney, and told us he was committed to an “all-of-the-above” energy strategy. The only trouble is Obama’s all-of-the-above strategy is old, recycled policy, and
Developing effective policies to deal with entrenched dictators around the world is not easy. However, a dictator’s death gives us a chance to take our policy off cruise control. We should do that by being realistic about the incoming leader, refocusing on our long-term goals, exploiting opportunities to hasten the ultimate outcome, planning for the regime’s fall, and ensuring that the regime can’t hold our policies hostage.
President Obama’s politically-motivated decision to turn down the Keystone XL pipeline probably shouldn’t have been a surprise, but it’s informative to learn how the president weighs an economic no-brainer versus a political opportunity. With stubbornly high oil prices and unemployment, his refusal to grant approval for Keystone is easily an embarrassment to our national energy policy. With the progressive green wing already in his camp, it’s a speculative move, at best. Lesson learned: a small probability of political self-promotion trumps the national interest – and the
Current Debt: The total Public Debt stands at over $15.2 trillion, with FY2011’s $1.3 trillion deficit, 8.7 percent of GDP, having contributed significantly to our nation’s credit card bill.
The Obama’s Administration’s Credit Card Bill after its First 1079 days in Office:
Debt increase since inauguration = $4.6 trillion
Debt increase per day in office = $4.3 billion
Debt increase per person since inauguration = $ 14,736