ENERGY SELF-SUFFICIENCY CAN HELP REDUCE AMERICA'S DEBT

To reduce the debt, let Energy Lead the Way

http://dailycaller.com/2014/05/06/to-reduce-the-debt-let-energy-lead-the-way/?advD=1248,47631

Daily Caller - Kevin Palmer – 5/6/2014

The benefits of natural gas as a fuel — for heating homes, generating electricity, and as a raw material — are far-reaching, but Americans should be particularly intrigued by the effect that natural gas fracking is already having on local and state economies in gas-rich regions throughout the country. Fracking as an economic solution makes sense on all levels, and in states like North Dakota, Pennsylvania, Ohio, Texas, and others where the government has taken a common-sense approach to natural gas development, Americans are reaping the benefits. Unfortunately, the environmental lobby is halting progress in California and New York, and the Obama administration seems more concerned with assuaging radical green interests than improving the nation’s fiscal health.

Every job created by fracking means one more American earning a salary, spending money, and paying taxes, and one fewer American collecting unemployment from the government. This is the tried-and-true formula for debt reduction — the greater the ratio of people paying into the system versus people collecting, the sounder our fiscal situation will be. And among job-creation initiatives, fracking is particularly enticing, because it doesn’t require the government to do anything except stand out of the way. Natural gas development is driven by entrepreneurs and businesses taking risks, not by stimulus spending that only drives the debt higher.

The money generated by the burgeoning fracking boom won’t by itself pay down the $17.5 trillion national debt, but it’s a step in the right direction at a time when our country is searching for answers. Smart, pro-growth policies that strengthen the economy will cause the debt to shrink organically, reducing the amount of cuts that will be needed to eliminate it. Politicians — from the White House to state legislatures — need to listen to the numbers instead of fringe environmentalists, and set policies that promote responsible natural gas development.

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