Research and our system of private properties have produced a situation where we have a massive advantage over europe and asia in terms of our natural gas. It creates a better economy and that reduces the debt. There is a headline predicting we will be producing more oil than saudi arabia beginning in 2020. This is something almost on imagined 10 years ago. Unimagined 10 years ago. What is the role of the federal government . To do things that encouraged the results. To follow up on the fiscal cliff. You can solve this fiscal problem if you grow our role to position relative to everybody elses. A big problem is the percentage of Government Spending is more than its should be related to total gdp. If there is an easier for millet in the history of economics that formula ever in the history of america economics that more American Energy equals more american jobs, i dont know what it is. It is all the jobs you have if you of a reliable supply of energy. The front page of the the wall stre
Air. Please ask mr. Reid to not to be such an obstructionist and sit down and listen. Have a great day. Guest imitate a few days for that message out to get through from me. Theres a lot of concern about budget deficits. In the period after the downturn, budget deficits for in a range of 10 of the entire gdp, the entire economic output of the u. S. They have come down a little bit. Economists think to be sustainable, budget deficits have to be in the range of 3 of economic output or a lower. The focus of this effort to reduce deficits now is on getting them, in the federal budget deficit to the range of 3 or so. That is what i mean when i say policymakers are not trying to get rid of the budget deficits. Given the economic weakness, a little bit of deficit spending is probably not a terrible thing, at least in the eyes of some budget economists. I think there would be comfort in washington around 3 of gdp. Getting there is a big challenge. There are problems with medicare and Social Se
I want to do what i can to see that this doesnt happen again. Clifton Truman Daniel will join us to discuss the inspiration for his trip sunday at 9 00 p. M. Eastern on cspan3. A report by the group securing Americas Future Energy says the greatest threat to national and Economic Security is dependence on foreign oil. Members of the group, business political and retired military leaders are suggesting a plan of maximizing oil and Gas Production, reducing consumption, and improving conservation as a way to boost revenue and reduce our debt. This is a little less than an hour and a half. Good morning, everyone. Thank you all for coming. I especially want to thank the members of the Leadership Council that could be with us here today. Theyve been a distinguished group of people working on this issue since 2006. Were nothing without their credibility as the great c. E. O. s, entrepreneurs and military leaders of our time. I also want to give a special thanks to the staff at securing Americ