
Money – Gasoline prices are soaring and the people are screaming. And they want something done about it-now! - A fiscal recommendation laid out in 2006.
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Exploding deficits, due to runaway entitlement spending and the cost of dangerous militarism, create pressure for the Fed to inflate the money supply. This contributes greatly to the higher prices we all claim to oppose.
If we want to do something about gas prices, we should demand and vote for greatly reduced welfare and military spending, a balanced budget, and fewer regulations that interfere with the market development of alternative fuels. We also should demand a return to a sound commodity monetary system.
All subsidies and special benefits to energy companies should be ended. And in the meantime let's eliminate federal gas taxes at the pump.
Oil prices are at a level where consumers reduce consumption voluntarily. The market will work if we let it. But as great as the market economy is, it cannot overcome a foreign policy that is destined to disrupt oil supplies and threaten the world with an expanded and dangerous conflict in the Middle East.