We are not preparing for recovery
...There is more.Why the pessimism? In short, we are doing nothing to prepare for the crises to come.
A global recession has led to low oil prices. Yet in this window of opportunity, America has not decreased its foreign-oil dependence. We are not encouraging domestic exploration. And we are still ambivalent on nuclear power.
But as the world economy recovers, oil will probably surge back over $100 a barrel, increasing our oil import tab by 25 percent or more. The Obama administration, though, mostly is obsessed with subsidizing relatively small amounts of wind and solar power. It likely won't be long before angry motorists at the pump are demanding to know why we have not pushed for more development at home of still-plentiful natural gas and oil fields.
Meanwhile, other economic bad news may be just around the corner. Today, interest rates on short-term Treasury bills still are less than 1 percent. But they, too, will climb as business picks up and worries over American inflation spread.
If we have to pay foreign lenders 5 percent to 7 percent interest on our debt, as in the past, the increased costs will gobble up additional billions from our annual budget. Yet sadly again, we are missing this rare opportunity of low interest to pay off cheaply the trillions that we already owe. Instead, we are borrowing even more!
The war on terror is also heating up again. Fairly or not, the Fort Hood massacre sent the message that the United States is more worried about appearing politically correct in matters of diversity than hunting down radical Islamists on its home soil. Those who seek to copy what happened at Fort Hood will be encouraged. And those charged with stopping them discouraged and confused.
Such uncertainty was reinforced by the attorney general's optional decision to try the architects of 9/11 in federal courts in New York City. At best, the confessed mass-murderer Khalid Sheikh Mohammed will lecture the United States. At worst, one sympathetic juror could find the monster only 99 percent guilty, and therefore the court might fail to convict him of planning the murders of 3,000 innocent people.
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The failure to increase domestic production of energy while the Democrats wait for magic energy is something we will pay a very high price for in future energy cost and imported energy. We should be exploiting our huge energy reserves at an accelerated rate instead Democrats continue to try to strangle domestic production. They should pay a political price for this perfidy.
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