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bfaul
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I understand that growth is the goal. But the problem I have been having with that concept for some time is that growth requires cheap energy. Energy is cheaper at the moment, true, but that is courtesy of the economic downturn. As soon as production begins to ramp up, assuming it does, we will start to bump up against the oil supply/demand problem all over again. Growth requires more energy consumption. That only works if they can continue to supply growing energy demand. If they can't, the cost of energy (and therefore the cost of everything) goes up. How do you continue to grow with the fundamental physics working against you? A question that hasn't been asked enough is this: What happens if we are unable to grow the economy? What happens when we have to raise interest rates to continue to be able to borrow money? I don't think Obama is facing this realistically. I am uneasy with borrowing on the promise of growth because I don't see how we can duplicate the last two decades of growth.