For all the budget hawks out there: the former half-term governor of Alaska, Sarah Palin, says that the $4 billion dollars the US government gives oil companies every year while reporting record earnings are “a drop in the bucket” in terms of balancing the budget. To be specific, that’s $4 billion A YEAR. Over the next ten years, that’s at least $40 billion. And she seems to be saying since it’s a “drop in the bucket” we shouldn’t bother eliminating these subsidies.
Mind you this is much, much more than the $430 million in proposed cuts to PBS which actually helps inform and educate Americans young and old.
I know I’d much rather see these subsidies ended and the money used to develop new, more efficient, renewable energy than to keep pouring money into old technologies that are getting us no where. It’s time to look forward, not stay stuck in the past.
I’m not sure I understand why the US government would want to balance the budget by turning Medicare – which Americans have paid into their whole lives – into a voucher system that will never cover the costs of elderly health care and cost seniors thousands, while continuing to GIVE AWAY billions to oil companies who are making more money than ever.