High gas prices have halted my spending toward many resources, and although I’ve found different ways to cut back, I’m optimistic about the high prices and find it to be a blessing in disguise.

As a result of the price hikes, Congress and the president will be forced to be more diligent and focus on energy efficiency as a core issue. Indeed, there will be gimmicks that many of those who favor continuing our addiction to oil will attempt in persuading people in a negative way.

For example, regarding offshore drilling, President Bush and Sen. John McCain will speak in support of these efforts and find a way to frame our thinking that this will benefit us immediately toward lowering gas prices, but it won’t because consumers won’t reap rewards until five years from now.

What have people done to cut back? They have taken an extra job, canceled an extra bill (cell or home phone or cable), gotten rid of one car in a two-car family, or dumped the SUV for a hybrid car. Ridership on public transportation has risen, many folks are purchasing mopeds, and people are biking and walking more.

Sadly, there have been negative effects from the price hikes: job loss, especially with the closing of SUV plants, airlines and gas stations; and many folks will become jobless because they won’t be able to afford going to and from work or even be able to search for a job.

Sens. John McCain and Barack Obama differ on their energy policies.

The lurking question for most folks is: “How is Sen. Obama going to pay for his programs?” Folks had the same concerns about Gov. Deval Patrick during his gubernatorial run in the fall of 2006, yet Gov. Patrick proved many people wrong by passing a balanced budget during his first fiscal year, and a lot of people were shocked because they assumed that Democrats were tax-and-spend.

Sen. Obama’s plan to pay for his proposed programs will be ending the war in Iraq, closing corporate tax loopholes, and reversing the disastrous tax cuts that President Bush instituted for the top 1 percent of wealthy folks.

Remember, when Bill Clinton was president, there was a balanced budget and rich folks were happy. Sen. Obama plans to roll back the tax cuts that were installed during the Clinton administration.

So, for folks who keep saying that he won’t be able to pay for the programs, Sen. Obama has assured a “pay as you go” method. Programs won’t be initiated unless he can fund it. Sen. Obama has talked about the importance of fiscal responsibility, and he doesn’t want to run a tax-and-spend presidency.

Originally posted in The Standard-Times newspaper,  SouthCoastToday.com – Posted June 21, 2008 1:05 AM

To view article, click here