Belmont Club

By Richard Fernandez

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The blind men and ditches

August 3, 2008 - 8:12 am - by Richard Fernandez
Charles
2008-08-03 15:03:31

I think that both candidates — and both parties — are paralyzed by the bleak economic prospects for the foreseeable future. It will be fiscally impossible to cut taxes or to develop major new programs. We will have to continue muddling our way forward on our current course for probably at least the next eight years. If either candidate really promises to do anything different, he will not be able to sustain his argument with realistic budget estimates.

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the most important thing that the USA could do economically is to wean the USA off foreign oil. 750 billion goes overseas every year to pay for foreign oil. this is unsustainable. but it could be stopped entirely with the right set of policies in 5-10 years. and likely dependence on foreign oil could be shut down entirely in 5 years with some serious US government interventions.