...with 15 million Americans out of work and with the President’s recently submitted budget projecting trillion dollar annual deficits for the next ten years and a near tripling of the national debt by 2020, the President is throwing away a golden opportunity (new offshore drilling) over the next three decades to create millions of new jobs and generate more than $270 billion in annual economic growth from new oil and gas development, including $54 billion annually in federal tax receipts that could help lower the federal deficit and the national debt.
These extraordinary benefits of job creation and economic growth – all without requiring any federal spending – are, sadly, not on President Obama’s agenda, notwithstanding all the phony rhetoric to the contrary.
-Vince Haley
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