Some taxing numbers
From
CNS News:
Obama Cites Rising Gas Prices � Up 83 Percent Under His Tenure � Among Reasons to Extend Payroll Tax Cut
President Barack Obama listed rising gas prices as among the many reasons to extend the payroll tax cut Tuesday, flanked by individuals the White House promoted as being affected by $40 per paycheck the average American would lose if the tax cut is not extended at the end of February.
But...
The payroll tax funds Social Security. Cutting the tax would reduce funding to Social Security by $119 billion over the next year, on top of the $105 billion reduced from funding in 2011.
Sure, we had high prices ($4.15) under Bush's leadership too but they brought the prices back down ($1.79 on January 18th, 2009 - day before Obama's swearing in). Obama is doing nothing. He signed over several billion dollars to Brazil to drill and we don't get the oil, China does.
From
The Washington Times:
China gets jump on U.S. for Brazil�s oil
Off the coast of Rio de Janeiro � below a mile of water and two miles of shifting rock, sand and salt � is an ultradeep sea of oil that could turn Brazil into the world�s fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.
The country�s state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the country�s oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.
The United States wants it, but China is getting it.
Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.
Simply clueless.
Posted by DaveH at February 14, 2012 2:36 PM