Obama’s spending fails to engage with the peak oil problem

Republican criticisms of the Obama administration’s spending practices are amusing as a form of metaphysical punishment. When people like Senate Minority Leader Mitch McConnell rail against pork and say that the government can’t create jobs, they should maybe check the employer on their paychecks. The fact that anyone takes these ideologically bankrupt scolds seriously after the last eight years is an enduring mystery of our political culture.

The bigger problem with the stimulus package and Obama’s budget is that it comprehensively fails to engage with the galloping catastrophe that threatens to obliterate global prosperity. Left unengaged, it’s a problem that will swallow what’s left of the global economy whole, making the AIG bonuses fiasco look like a beef-and-beer gone wrong.


This problem is called “peak oil”