On the recordJune 25, 2014
I am an old history teacher, and one of the things I have always claimed for my students is you should actually try to look to the past, to see how you can plan for the future. When Ronald Reagan became President of the United States, this country was faced with the crisis of double-digit inflation, double- digit unemployment, and double-digit interest rates; and as President, after so many years of a Congress that tried to have the policy of spending ourselves into economic growth that failed, his issue was: Which of those do you attack first? I think it is interesting to realize--to grab hold of each of those issues, his first action was to increase the supply of affordable energy. That became the basis of growing an economy in which he could then attack each of those problems of unemployment and inflation and interest rates which were plaguing this country. We have to realize now that a strong foundation of affordable energy is extremely significant, from whatever source, but especially from what will be workable now. High gasoline prices--and the price that is increasing in every form of energy we have today--hurts the middle class, and it especially hurts the working poor, many of whom have to decide, every time they go to the pump, whether they are going to put food on the table or fill up the minivan. We have to deal with something.…





