How can this be???? I thought the Bush economy was all done with smoke and mirrors. The GDP cannot be growing at this fast a rate. Someone must be cooking the books.

All I can say is WOW!
Repeat after me, "Tax Cuts, Tax Cuts," EVERYBODY, "Tax Cuts!"
Liberals, sing along, "Tax Cuts, Tax Cuts!"

That's great that GDP grew so much. Let's take a look at what caused such great growth, shall we?

Federal government consumption expenditures increased 10.5 percent! Yeah that's great, right? All you 'small government' conservatives must be overjoyed!

And how is our government paying for all this new spending? They're not!! That's right, we're cutting taxes more, because what's more patriotic and responsible then making the next generation pay for your own spending?

Remember, C students, tax cuts that we can't pay for are not tax cuts, they are tax deferrals. Real men pay their own debts, Bushies make someone else pay.

High gas prices drive up the "cost of goods" and inflation is soon to follow. Matt's numbers foretell increasing inflation and more rate hikes from the Fed. That means the stock market will continue to soften. The bond curve is also inverted and that doesn't bode well for overnight funds rates. Peace

Matt, 1st quarter GDP growth of 5.3 percent, unemployment rate of 4.7 percent. President George W. Bush presiding over the strongest economy in american history!!!

And here come the liberals to try and pull a cloud out of the sliver lining....

Matt, more good news is that the House passed another bill allowing drilling in ANWAR. My concern is is that the article I read stated that it could be filibustered by the senate. This is becoming like musical chairs. Why didn't the House pass it in a reconciliation bill that could not be subject to filibuster. The last time, the Senate passed it, but it could not pass the House. What the heck is going on!?! Why couldn't the House pass the bill that the Seante passed last time! Someone please explain. I'm getting a headache!

Matt, more good news is that the House passed another bill allowing drilling in ANWAR. My concern is is that the article I read stated that it could be filibustered by the senate. This is becoming like musical chairs. Why didn't the House pass it in a reconciliation bill that could not be subject to filibuster. The last time, the Senate passed it, but it could not pass the House. What the heck is going on!?! Why couldn't the House pass the bill that the Seante passed last time! Someone please explain. I'm getting a headache!

We need a true majority, james, but we're not gonna get it this time. War

Matt, more good news is that the House passed another bill allowing drilling in ANWAR.

-- Thats nice. Nice to know that destroying a wildlife preserve is more inportant that drilling considering that theres only enough there for a days consumption at current levels and not adrop will reach the US, the crude is too heavy so it will be sold overseas, fattening the oil companies further and not doing bupkiss to help increase domestic supply

it's true, even if alaska is tapped, it's not going to get up to full production until around 2025, at which point it will be producing 2% of the nation's oil. maybe not worth destroying all of that land?

Yeah, drilling in an area that will have a footprint the size of a large airport in an area 100000's of acres wide...yes, it will "destroy the preserve".

Chicken Littles again and gloom and doom persists on the left.

It's amazing they don't all just kill themselves.

Theres a reason why they call it a "Wildlife Reserve" , the whole point is to have a section set aside that is untouched. A big ugly smelly, messing polluting oil field smack in the middle tends to touch that untouched reserve.

Oh yeah, check out the "pristine"area of ANWR. As all clear thinking individuals know there is enough oil there to compensate for what we import from Saudi Arabia for 30 years. I thought the far left kook fringe hated Saudi Arabia? Wouldn't they want us to drill in ANWR so we don't have to buy Saudi oil anymore?

Cj,

There is snow, trees and mountains there. You were expecting to see a huge herd of buffalo, roaming majestically over the alaskan range?

As all clear thinking individuals know there is enough oil there to compensate for what we import from Saudi Arabia for 30 years.

-- That number represents the maximum amount thought possible and then some. Most pro-drilling estimates are 600 million barrels max per year. This is about 8-9% of the overall annual consumption, which is 6800 million barrels per year or so.

Unfortunately, most of it is a heavy crude, unsuitable for domestic refining and so it will be sold overseas and will not help domestic supply and will not reduce foreign imports or alleviate high price levels. Not to mention that the earliest it could be operational is 10-15 years.

All this will do is make the oil companies even richer while allowing them to rake you over the coals for years and years at record high gasoline prices.

CJ,

Don't listen to axis, he likes to make up "facts" out of thin air.

For instance, he claims that there is only one days' supply of oil at current US consumption rates. If that was true, do you think anyone would be interested in drill for that small of an amount? The actual facts are that our present consumption is about 20 million barrels per day. There is an estimated 17-20 billion barrels in ANWR. That was billions, with a "b", not millions. So, if we didn't pump a drop of oil from any other US sources, or import any foreign oil, the ANWR fields would last at least 3 years. However, the anticipated production is about 1.5 million barrels per day, doubling the total US production. At this rate, ANWR will be producing oil for at least 30 years.

The total area that will be affected by drilling in ANWR is about 2000 acres. While that sounds like a lot, there are over 19,000,000 acres in ANWR. The drilling site comprises about one hundredth of one percent of the total ANWR acreage. Over 17,000,000 acres of ANWR are permanently protected from drilling.

Who lives in the affected area? No one. The nearest homans live nearly 100 miles away. What about wildlife? Near the other drilling sites along the Coastal Plain, there has been a marked increase in wildlife. For instance, the Caribou Herd which migrates through Prudhoe Bay has grown from 3000 animals to its current level of 32,000 animals.

What is the economic impact of drilling in ANWR? I'm glad you asked. It is estimated that between 250,000 and 735,000 ANWR jobs will be created. During the first 5 years, ANWR dilling will produce over $5 billion in tax revenues. The total positive impact to the economy is estimated to be over $50 billion.

But those are facts, and "axis" doesn't believe in facts, he only believes what he reads on conspiracy web sites, DU, and Kos, or what he makes up.

A-10,

Those are overly optimistic numbers and estimates. Even the official current estimates do not put those numbers anywhere close to yours.

You'll see. Start drilling there and see how fat the oil companies get and see how your price at the pump stays the same.

In Canada, we are a new exporter and theres virtually no difference in pump price net of taxes than you are paying and we are not importing any oil from the middle east.

A new supply might bring prices down a bit, likely a few cents, but we are talking 2016-2020 before that will even have a chance to begin. By that time, this will have gotten the smack down by future congresses.

If you want to reduce the price at the pump, you should be lobbying for construction of new refineries. Theres plenty of oil, but not enough refining capability, which is creating this artificial shortage

Everytime the price goes up at the pump, Republicans want to start drilling in ANWR or off the Florida or California coast. You guys are so predictable. And when that oil is used up, what then?

I would be more impressed if there was a serious a
ttempt to increase the CAFE standards for cars and light trucks, and more of an attempt to develop alternative fuels. This has been a known problem since the '70's but little has been done in that direction. There's no excuse for Americans still driving huge Hummers that get 14mpg. It is both short-sighted and selfish.

I'd like to leave some part of the planet unspoiled for our children and grandchildren; they'll already have GWB's massive debt to deal with!

A10,

quick question you need to answer:

Since we don't have capacity for refining heavy crude, which is what is actually under the ground, how is this going to affect our supply?

How about your assertion that this doesn't affect any humans, the Gwich'in people are fighting to keep the innevitable drugs and alcohol which will follow the workers, out of their community, in economics we call that 'externalities'

this debate is nothing more than rhetoric, which is about all the republicrats have.

How shocking, axis is Canadian.

I rest my case.

Strongest economy in my lifetime and the liberals are reduced to arguing about buffalo in ANWR.
Economic geniuses, this lot.
Warrior, not all Canadians are as illinformed as axis, most know the difference between the American Bison and the carabu.

Third Eye Open,

Actually about 1/3 of the US refineries currently refine heavy crude oil, so once again "axis" has lied to make a point. In fact, at least one of the refineries, Mobil's Chalmette refinery in Louisiana, refines extra-heavy crude from Venezuela. And of course, we should be building and expanding our refining capabilities.

Of course "axis" doesn't mention that oil is a commodity that is sold on the world's markets. It is not pumped out of the ground by an "big oil company", then shipped directly to their refinery. Most people don't understand that the price of oil is not set by "big oil". It is set on the spot commodity markets. If you want to blame anyone for rising oil and gas prices, blame the commodity speculators.

Did you also know that the ANWR reserves are part of the range of underground oil that the existing Prudhoe Bay is tapped into? Where is the Prudhoe Bay oil being shipped to?

Then there's the Canadian and Alaskan Gwich’in Indians. Did you know that they live outside the Refuge, and only voiced their opposition to ANWR exploration after Exxon and BP let their leases on Gwich’in tribal lands expire? No conflit of interest there.

The Gwich'in Indians never had a drop pumped out of their lands, basically because nothing was there, sure, were they looking to cash in, probably, when you live a subsitenece life, it might not be a bad idea, but they have a legitimate gripe about not wanting the eventual influx of vices into their lands, so how do you rectify the fact that the southern hers of Porcupine caribou will be in direct contact with the drilling pads, not to mention the leftovers that eventually happen when the oil industry eventually packs up its bags and leaves, whiel I will admit that oil industry has done a pretty darn good job of cleaning up their act since 1990, its not gonna make me any less wary of a system that includes self regulation, with announced oversight, and the eventual breakdowns that are bound to occur as aging machinery and falling profits intersect a few years from now, isnt it much more viable to just start a plan of voluntary consumption pullbacks, everyone on the right acts as if the entire country is addicted, irreversably to this idea of more, more, more...we asked our country to cut back in WWII, we asked them to cut back in Korea, we cut back during the gas crunch, what makes you think we cant be asked to cut back now, all we need is one heart felt, "good ole' boy" speech from Der leader, asking us to pull together, asking us to carpool, asking us to be a little more neighborly...oh no...its much more in their interest to keep us wedged, fighting over stupid left-right, liberal-conservative dichotomies

Actually about 1/3 of the US refineries currently refine heavy crude oil, so once again "axis" has lied to make a point. In fact, at least one of the refineries, Mobil's Chalmette refinery in Louisiana, refines extra-heavy crude from Venezuela.

-- Symatically speaking, you are correct. Symantically speaking, the correct statement is that America lacks the refining capibility to process any MORE heavy crude. (Than they currently are)

American refineries are maxxed out.

If you honestly believe Exxon is going to spend billions building new refineries just to process the heavy crude from the ANWR when they can more easily sell it overseas and save the billions on construction of more refineries which will lower their profit by increasing the supply of gasoline,
then you have rocks in your head. Exxon does whatever will make them the most profit, they don't care if people are paying more at the pump than they can afford.

The only way this will be resolved is by FORCING big oil into spending the billions. Incentatives like the big oil tax breaks do not work, they just take them and do nothing.

Good God axis, you're stupid!
Do you mean "Semantically"? If so you used it wrong; refineries are currently running at capacity, building refineries increases capacity; it doesn’t increase “more” capacity.
Do you ever read what you type; do you realize just how puerile and uninformed your posts sound? I always hope for a liberal like Ricorun to come along and have a conversation with, you are not mentally capable of that. You make all liberals and all Canadians look foolish. You confirm the worst suspicions conservatives have about liberals.

Good God axis, you're stupid!
Do you mean "Semantically"?

-- LOL, its always a sign that you have no merits to argue when you need to resort to attacking someones typed grammer and spelling.

Sit down on your thinking stool and take a couple smart pills and maybe you will be able to come upwith an arguement to refute my statements.

"Good God axis,You're Stupid!

I say Amen to that!!!!!!!!!!!!!!

:-) with a few chuckles to spare!!

Anyone know why?hahahahahaha!!

I say Amen to that!!!!!!!!!!!!!!

-- Equating a lack of intelligence to those whose views differ from your own, simply serves to show that you lack an arguement to refute their views.

Please show me what I said that was "stupid", which would be stating something unintelligent. Dismissing intelligent thoughts and views that differ from yours as "stupid", just shows your level of ignorance.

Just like the typical conservative motto, when your party has screwed up and has no ideas on how to fix it, blame the liberals. Conservatives have totally screwed up the US energy policy, tripling gas prices and other energy prices. You have no ideas on how to fix it, so you blame the liberals and environmentalists even though you have had complete control for over 12 years and did absolutely nothing.

Bush saw the tiny leak in the roof several years back and ignored it. Now the entire roof needs to be replaced and instead of taking responsibility for your own screw ups and shortsightedness, you try and pass the buck.

This is why in most conservative cicles and shows you refuse to allow those with dissenting opinions, because you recognize how fragile your arguements are and how easily they can be taken apart.

This is also why you make for incredibly poor governance, you lack the capacity for admitting to errors and adjusting policies accordingly.

But thats ok Jeremiah, I am a liberal, you have the freedom in america to be as ignorant as possible and I am tolerant of that.

Your petty insults and comments do not bother me in the least and only shows that my logical and rational views are getting to you, you have no arguements to refute them and petty insults are the only thing you have left.

:)

axis,

Sane people "DO NOT" argue with "STUMPHEADS".

and yes axis I am free but that's because God has provided a way for my freedom,the only problem is liberal's such as yourself have tried AND TRIED to get in the way SO MANY TIMES but yet THEY HAVE FAILED.

I don't care how much you spit on the president,I can just feel justice in knowing that you will repay ten fold when judgement day finally arrives.

No,don't get me wrong I don't want to see anyone go to hell,but that's the direction you are headed!!!!!!!!!,and will be your final destination if you don't turn from your wicked ways!!!!!!!!!!!!!!!!

"You will "REAP" what you "SOW".AND YES I'LL LET GOD BE YOUR JUDGE!!!!!!!!!!.

So many issue's here at blogs for bush you have tried to twist and turn,and most have put you in your place.

NO,I may not be the brightest cookie in the world but at least one thing is for sure and that is I AM ON THE WINNING SIDE,AND NO ONE CAN TAKE THAT AWAY, BECAUSE OF ME AND OTHER'S HERE SUCH AS MARK BEING CHRISTIAN IS WHAT MAKES AMERICA SHINE,AND THAT IS ALL THAT MATTERS TO ME!.

If it's true that you are a canadian then I'd HIGHLY suggest "YOU KEEP YOUR BIG MOUTH SHUT".and I'M DEAD SERIOUS} BECAUSE YOU HAVE NO BUSINESS WITH YOUR FOOLISHNESS IN AMERICAN AFFAIRS PERIOD.!!!!!!!!!!!!!!!!

Quite frankly,The only thing that will solve the problem,is we need to become less dependant on foreign oil,we need to stop right now.

There is nothing complicated about this,we don't need all the fuss,and big ingenious idea's.

If you guys would rather keep keep up this fight,then so be it.

But one thing is for sure though,If america would not buy one drop of gasoline for one day then the big oil companies would be getting worried.

I would be curious enough, and go so far as to say that america uses enough gasoline every day to rival the flow of the mississippi!?

We are supporting THEM(Saudi's) NOT US(as in U.S.)

TOO MUCH!!!!

I don't care how much you spit on the president,I can just feel justice in knowing that you will repay ten fold when judgement day finally arrives.

No,don't get me wrong I don't want to see anyone go to hell,but that's the direction you are headed!!!!!!!!!,and will be your final destination if you don't turn from your wicked ways!!!!!!!!!!!!!!!!

-- Now that is FUNNY! I am going to hell for pointing out and informing people that you have a lying, corrupt, powermad president in power that is directly responsible for nearly 200 000 lives in 5 years. Not to mention all those that he has tortured and murdered in prison. If anyone is headed downstairs Jeremiah, it is BUSH.

That is hilarious!

You believe if you are a Christian and thump the bible and quote proverbs enough times, it gives you an exception to do or commit any sin you want. You believe that your Christian president can kill as many people as he wants and will never be held accountable, yet if someone points out his crimes and sins, they are the ones that are going to burn in eternal damnation.

You should be standing on street corner telling people to repent because Armegeddon is coming.

axis,

Who just said the president is corrupt?

If you can answer that then you have the man who is "headed downstairs".

No person in his right mind would tell such lies about the president!!!!!!!!!!!!!

Now go away,you retarded fool!!!!!!!!!!!!!!!!!!!!!!!!

I would like to inform any who read here at blogs for bush to be aware that there is a satan worshipper who blogs here.

He want's nothing to do with God!!

He has no fear of God!!

I pity the poor fellow!!

So keep your guard up and cut him back to size whenever he comments!!

Who am I talking about?.........AXIS............

EVERYONE PRAY FOR HIM,THAT THE LORD WILL DEAL WITH HIS HEART.

BUT UNTIL THEN SAY IT TOGETHER..........
.............GET THE BEHIND ME SATAN..............

Oh, Jeremiah. How you do go on. I am a Satanist now? Your theological tirades, bible thumping, quoting scriptures simply goes to illustrate to moderate republicans, and liberals why we can never, ever, ever allow wingnuts like you to mix your perverted views of christianity with law or state.

You ought to have your own Sunday morning evangelical show where you tell your viewers that they had better send you some money or they are going to burn in eternal hell.

I have nothing in the world against Christianity, I am one myself in fact, just a moderate one that prefers a positive relationship with god to influence my life in a positive manner.

Remember Jeremiah, Matthew 7:1
"Judge not, that ye be not judged."

Judge me a satanist and you might find yourself getting a pitchfork in yer ass one day...

Now put away your fire and brimstone before you burn yourself.