Oct

Two Ways to Replenish the U.S. Treasury After 1 Trillion in Emergency Spending

Posted by: Mike's America @ 11:24 pm in Uncategorized

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Option one: Raise taxes!

Option two:

The Congressional Research Service recently estimated the potential federal revenue from Arctic National Wildlife Refuge (ANWR) oil development at $191 billion over 30 years — roughly $18.36 per barrel, based on projections of recoverable reserves. Applying that formula to the 107 billion-plus barrels of recoverable oil that federal agencies estimate is in ANWR, the nearby National Petroleum Reserve and offshore tells us that sensible drilling could yield nearly $2 trillion in overall revenue over 30 years, or an average of about $65.5 billion per year.

Add in the hundreds of billions of barrels of oil in other offshore areas as well as the trillions of cubic feet of natural gas and we could rake in trillions more. Maybe even enough to give Americans who actually PAY income taxes a tax break (and not just welfare checks for those who do not).

Guess which option Obama would choose?

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5 comments so far

GM Cassel AMH1(AW) USN RET

Option 1; After all the obammymessiah wants his programs funded from my job/paycheck. Aircraft worker in Wichita, $15.85/HR. The company I work for builds corporate aircraft. You know business jets and turboprop twins. The favoured transport of the obammymessiah crowd.
I guess a sensible approach that would be favourable to us working types just ain’t up the sorry scumbag commie’s alley, is it?

October 11th, 2008 at 6:25 am

CCR08

Option #2 isn’t a real option for several reason. 1) the oil belongs to the people of Alaska. 2) Oil companies will get $$$ for the work of extracting the oil. These are just 2 reasons the American people will not see a return on the money spent by our government to “shore up” the “credit” crisis through oir reserves in Alaska! How about another option?

Option 3; The American people could file a class action law suit against the federal government for misuse of our funds. Could you imagine, the people standing up and actually fighting government abuse!!!

October 11th, 2008 at 8:15 am

jainphx

The saying is the only sure things are death and taxes, don’t kid your self if we drill and refine so many good things happen. High paying jobs are created, which in turn creates spending, which creates more jobs. So to say it’s not a good option is just wrong. Jobs for refining, jobs for construction (pipe lines etc) What comes from pay checks, taxes. This is a win win proposition period, not to mention our independence in oil production is a national security issue.

October 11th, 2008 at 8:57 am

Mike's America

@CCR08: You need to examine the facts and how much the American people actually go get from oil revenues.

The bottom line is that if we opened up the areas where we know the oil is ready to be safely extracted we could add trillions to the Federal Treasury.

Go ahead an push option 3 if you want, but you and I both know it’s a non starter.

October 11th, 2008 at 10:09 am

Rocky_B

CCRO8:
“Option 3; The American people could file a class action law suit against the federal government for misuse of our funds. Could you imagine, the people standing up and actually fighting government abuse!!!”

Let’s not go there, that’s a big no-go, the only people that get any money out of class action lawsuits are Democrat lawyers. We’ld make better bank if we held a coast-to-coast bake sale.

Ive got a better idea to repay that deficit spending; A half-a-penny/per dollar government surtax on all stock trading. The Wall Street traders helped us get into all this, let them get us out. They’ld never miss it.

October 11th, 2008 at 11:01 pm