From this week's Tuesday Morning Quarterback:
"It took the United States 209 years, from the founding of the republic till 1998, to compile the first $5 trillion in national debt. In the decade since, $6 trillion in debt has been added. This means the United States has borrowed more money in the past decade than in all our previous history combined. Almost all the borrowing has been under the direction of George W. Bush -- at this point Bush makes Kenneth Lay seem like a paragon of fiscal caution. Democrats deserve ample blame, too. Harry Reid and Nancy Pelosi, Democratic leaders of the Senate and House, have never met a bailout they didn't like: Harry and Nancy just can't wait to spend your children's money. Six trillion dollars borrowed in a single decade and $1.5 trillion borrowed in 2008 alone. Charles Ponzi would be embarrassed.
"If you borrowed, borrowed, borrowed, you could afford to live high for a while -- then there would be a reckoning. Hmmm … that sounds a little like what many Americans did with gimmick mortgages in 2005 and 2006. They were only imitating their political leadership! Why is it both parties in Washington think the United States can borrow, borrow, borrow without a reckoning ever coming? Bush, Reid and Pelosi seem poised to transfer hundreds of billions of dollars of borrowed public money to political insiders on Wall Street and in banking, whose bonuses will now be tax-subsidized. The capitalist maxim is, 'She who reaps the gains also bears the losses.' Now Washington wants those who reaped the gains to shift the losses to those who lived humbly. The young will pay and pay for these cynical ploys to insure the luxury of the powerful old. Why aren't the young outraged?"
I, for one, am. Read the item entitled "Gimme! Gimme! Gimme!" (1/3 of the way down) and you will be, too. Any suggestions on what we personally could do to vent anger and affect change, let me know.
Showing posts with label gregg easterbrook. Show all posts
Showing posts with label gregg easterbrook. Show all posts
9.23.2008
9.09.2008
Amen, Gregg. - II
From this week's Tuesday Morning Quarterback:
For cars, SUVs and light trucks, there are two forces at play in oil-addiction trends, but only one is generally recognized. Everybody knows the fad of big vehicles increases petroleum needs -- according to the EPA, the average weight of passenger vehicles has risen 30 percent since 1988, while average MPG is down. The other factor, little acknowledged, is horsepower, which has risen even more sharply than weight. Twenty years ago, the average new passenger vehicle sold in the United States had 120 horsepower. For this model year the figure is 230, almost double. There will be no fundamental change in oil import levels until horsepower numbers change.
Like weight, horsepower depresses fuel economy. Simply knocking a third off the horsepower of new U.S. passenger vehicles would, in about a decade -- as efficient new vehicles replace wasteful old ones -- eliminate approximately the amount of oil the United States imports from the Middle East. Yes, it's that simple. Race cars need lots of horsepower; suburban family cars do not. Excessive horsepower causes the United States to be dependent on Middle East dictatorships, engages military commitments to those dictatorships, drives up the price of oil and pushes down the value of the dollar. Horsepower is also the enabler of road rage -- rapid acceleration allows cutting off, drag racing and sudden lane changes. Road rage entered national consciousness as a problem in the mid-1990s, exactly when the horsepower ratings of new vehicles began to spike.
For cars, SUVs and light trucks, there are two forces at play in oil-addiction trends, but only one is generally recognized. Everybody knows the fad of big vehicles increases petroleum needs -- according to the EPA, the average weight of passenger vehicles has risen 30 percent since 1988, while average MPG is down. The other factor, little acknowledged, is horsepower, which has risen even more sharply than weight. Twenty years ago, the average new passenger vehicle sold in the United States had 120 horsepower. For this model year the figure is 230, almost double. There will be no fundamental change in oil import levels until horsepower numbers change.
Like weight, horsepower depresses fuel economy. Simply knocking a third off the horsepower of new U.S. passenger vehicles would, in about a decade -- as efficient new vehicles replace wasteful old ones -- eliminate approximately the amount of oil the United States imports from the Middle East. Yes, it's that simple. Race cars need lots of horsepower; suburban family cars do not. Excessive horsepower causes the United States to be dependent on Middle East dictatorships, engages military commitments to those dictatorships, drives up the price of oil and pushes down the value of the dollar. Horsepower is also the enabler of road rage -- rapid acceleration allows cutting off, drag racing and sudden lane changes. Road rage entered national consciousness as a problem in the mid-1990s, exactly when the horsepower ratings of new vehicles began to spike.
9.02.2008
Amen, Gregg. - I
From this week's Tuesday Morning Quarterback:
It is Congress, after all, that from 1988 to 2007 repeatedly refused to raise fuel economy standards for cars, trucks and SUVs, thus guaranteeing U.S. oil imports would rise, and helping push up global oil demand, increase the price of oil and channel more dollars, euros and yen to the Persian Gulf dictatorships that support anti-Western and anti-Israel terrorism. Under Republican and Democratic leadership alike, for 20 years Congress was warned and warned and warned again regarding trends in U.S. petroleum use, and for 20 years did nothing. With an election coming, how about we throw these unctuous rascals out, and to play on a suggestion by the late William F. Buckley, replace them with 535 names chosen at random from the nation's telephone books?
It is Congress, after all, that from 1988 to 2007 repeatedly refused to raise fuel economy standards for cars, trucks and SUVs, thus guaranteeing U.S. oil imports would rise, and helping push up global oil demand, increase the price of oil and channel more dollars, euros and yen to the Persian Gulf dictatorships that support anti-Western and anti-Israel terrorism. Under Republican and Democratic leadership alike, for 20 years Congress was warned and warned and warned again regarding trends in U.S. petroleum use, and for 20 years did nothing. With an election coming, how about we throw these unctuous rascals out, and to play on a suggestion by the late William F. Buckley, replace them with 535 names chosen at random from the nation's telephone books?
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