Sunday, June 20, 2010

And The Spill Continues

The late Economist Milton Friedman stated in 1975; “I think that the government solution to a problem is usually as bad as the problem and very often makes the problem worse.” How true he is with regards to the BP oil spill. We can see through this that Mr. Obama loves golf and not to govern during a crisis or really at any other time either. His $20 billion new slush fund extracted from BP will do little to help the situation from an economics point of view. And what is the point of the fund? Are we any closer to capping the well? Have we saved any more marine life by the fund? Is he going to hire some political friends for this new department and or force BP to use union cleanup crews? Are we going to have a czar for it? Are we going to have more daytime hearings by Congress on it which do nothing and prove nothing other than waste more taxpayers monies? Has this administration developed a replacement for all of this oil that has been lost and not drilled so as not to create an economic downturn because of it? Or just the opposite?
Mr. Obama could have taken a leadership role and helped to rectify this crisis-he has chosen not to. It is just another debacle in the long line of debacles that this administration has shown their ineptness in leading our country. And their ineptness in trying to solve economic issues and problems. This November we will see some real change in Congress and even more in November 2012 when he is voted out of office. Cap the spill today. Oh yeah that is right you guys do not want to waste a crisis.

1 comment:

David X Johnson said...

They are taxing the recipients of oil spill remuneration! That's how they are getting their cut.