The economy is teetering on the brink, as oil hits record highs and no relief, in the form of increased supply, is in sight. Astonishingly, the Democrats are determined to allow no energy legislation to pass the Congress. This morning, the New York Times reported that Nancy Pelosi has dug in her heels in opposition to gas price relief:
According to accounts from those present, Ms. Pelosi said that if Democrats relented on drilling, “then we might as well pack it up and go home.”
So that’s what the Democrats will do: pack up and go home, rather than try to bring relief to consumers and businesses staggering under the weight of record energy prices.
The inevitable result will be economic hardship. It’s hard to avoid the inference that the Democrats want the economy to get worse, in the expectation that hardship will help their prospects in November. Who knows, they could be right. But it is hard to imagine a more cynical calculation. In Barack Obama, Nancy Pelosi and Harry Reid, we have as cynical a political gang as has ever been assembled.
To comment on this post go here.