18 Jan 2008

The High Cost of Congress

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Former Oklahoma Congressman Ernest Istook, now at Heritage Foundation, identifies the key problem with America’s economy.

We can’t afford Congress. It’s driving America’s cost-of-living through the roof.

Any tax cut or “economic stimulus” we might get this spring is peanuts compared to how Washington keeps jacking up the price of everything that’s important.

By itself, last month’s energy bill will make food, cars, gasoline and even light bulbs more expensive. Washington is also the culprit behind high medical bills and health insurance, washing machines that have doubled in price, and our wonderful, more-expensive “lo-flo” toilets that don’t flush right.

All this is on top of what red tape already costs us. A 2004 government report admitted that federal regulations cost our economy at least $1.1 trillion each year. That’s $3,666 per person, so multiply that by the number of people in your household. And remember that’s before the 2007 energy bill. And in addition to taxes.

The new energy laws are a leftist’s dream and a supply-sider’s nightmare. As 2008 starts, we’re paying $3 (often more) for a gallon of gasoline. That’s up about a fourth (64 cents) from a year ago. The Heritage Foundation calculates the new energy bill will boost gas prices over $5 a gallon by 2016. Yet rather than let us produce more oil domestically, Congress keeps areas off-limits from drilling that could raise supply and lower prices. Nor will Congress let us expand nuclear energy, which likewise would help energy prices.

Read the whole thing.

One Feedback on "The High Cost of Congress"


Your comments are so true. Congress and our legal system have systematically allowed this countries infrastucture to deteriorate to the point we cant afford to fix it. Cities cant aford to put lights at intersections. New roads and freeways are desparately needed. Our power grid is an accident waiting to happen.
We have plenty of oil if congress would allow the oil companies to extract it and ease some of this countries high gas and diesel prices. These high fuel prices themselves are contributing heavily to our recession. 6 or 7 years ago I knew our countries economy was falsely being run by the refinance boom…I find it absolutely amazing that our government did not see the problem developing and put measures in place to stop the unethical lending practices that were happening. Its just too bad, there are just to many people with the attitude that I am only on this earth for a short time and I am going to get and take what I can while I am here. Starting with our beloved politicians.


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