At a recent campaign event, President Obama said that the United States “became an economic superpower because we knew how to build things.” He went on to list the Hoover Dam and the Golden Gate Bridge as monuments to America’s capacity for greatness.
Yet somewhere along the line, the ability to complete massive public works projects ended. “When did that happen?” the president asked.
It’s impossible to pinpoint exactly when it happened, but we all know why it happened, and it has nothing to do with our capacity for innovation. The culprit is a labyrinth of increasingly complex and confusing federal regulations.
Take, for example, the Gulf of Mexico. Deepwater drilling was considered virtually impossible in the early 1900s, but technological advances and the human spirit of innovation made it a reality. Today the Gulf of Mexico is the largest single source of domestic petroleum in the United States.
Why we can't do big things anymore | The Daily Caller
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