Washington Examiner | Obama’s Acheiving His Goal of Higher Energy Prices

With 14 million Americans either out of work or  underemployed, a lot of folks aren’t buying Christmas gifts or celebrating with  a little holiday cheer this year. As Washington Examiner columnist John Stossel  makes clear elsewhere in today’s edition, a major reason for the continued high  and underemployment is found in the massive economic uncertainties that will  result if the U.S. Supreme Court allows Obamacare to go forward. Businesses  aren’t replacing current workers or adding new ones in great part because they  simply cannot know how much doing so would cost them until the future of  Obamacare is decided. This is a textbook case of the unintended consequences  that inevitably accompany grand Big Government programs.

But there is another factor behind the economic  stagnation produced by President Obama’s policies — soaring energy costs —  that hurt all Americans, not just those without jobs or who are trapped in  lower-paying positions. As CNBC reported earlier this week, the typical American  family will spend the largest portion ever of its budget — 8.4 percent — on  gasoline this year. Economists expect the average price of a gallon of gas to be  $3.53, a 76-cent increase over 2010.

 

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