The IRS recently published the fact that $235,000 Americans make $1 million or more in income. If you take EVERY penny of that income you can fund the Fed Govt for....about 30 days. And that assumes that if you take all the money, it has no impact on economic growth.
The only way to get out of this debt crises is economic growth coupled with spending cuts. The only way to get real sustained economic growth is to push serious efforts to massively increase domestic energy production
High energy prices are the fundamental drag on the US economy.
Part of the cause of high energy prices is our insane fiscal policies which weaken the dollar but also by the “green” energy dogmas the Obama Democrats have foisted on us the last 3 years.
High Energy prices have an radically negative effect on the economy. High energy prices destroy US Consumer Confidence and they eat up US Consumer’s discretionary spending dollars.
US Consumer spending is the engine that drives the World Economy. Without it any economic recovery will be anemic at best.
US Consumer have seen, in just the last year 40% inflation in the cost of energy. High energy prices effect not only the price of gasoline, but also the price of every good and service the consumer buys. It also drives up the price of the energy the consumer buys to power their homes. It drives up the costs for producers to produce the goods US Consumers buy.
Until the cost of energy is addressed the US, and the world, economic recovery is going to be stagnant at best.
I agree whole heartedly with this. Domestic Energy production is definitely one of the ways we can get on the right path to fixing the economy.