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California could edge out Texas in oil production
Houston Chronicle, by Loren Steffy
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Original Article
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Posted By:Dreadnought, 12/19/2012 10:48:57 PM
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| It may be the biggest insult since salsa made in New York City. Texas, long the nation’s oil capital, could get upstaged by California. That’s right, California. Enron’s prey-ground. Cap-and-trade fantasyland. Home of fossil-fuel-hating, electric-car-driving, green-dreamers. Last week, the U.S. Bureau of Land Management sold 15 leases for about 18,000 acres in California’s Monterey Shale, which stretches 200 miles south from San Francisco. The U.S. Energy Information Administration estimates the shale formation could hold 15.4 billion barrels of oil, which would be double the combined reserves
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Reply 1 - Posted by:
ColoWapiti, 12/19/2012 10:55:22 PM (No. 9075426)
Good. Maybe that would give them enough energy to finally leave the union, and leave the rest of us alone.
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Reply 2 - Posted by:
PatPiano, 12/19/2012 10:56:45 PM (No. 9075427)
This could spell the end of California´s bankruptcy - no, wait, some environmental group will put its foot down and stop all this financial success - hey - it´s California - it´s what we do!
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Reply 3 - Posted by:
RLowe, 12/19/2012 11:03:34 PM (No. 9075430)
I noticed a rig in Lost Hill the other day that wasn´t there a month ago.
Yes,I was in a state of disbelief.
I guess it´s true!
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Reply 4 - Posted by:
Kerryman, 12/19/2012 11:05:06 PM (No. 9075431)
Wait till you see the Lawsuit delays on this one. No production for at least 20 years. What does this do to "Peak Oil".
Semper Fi
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Reply 5 - Posted by:
Now or Never, 12/19/2012 11:06:34 PM (No. 9075433)
California could, but won´t.
America could become the largest oil & natural gas producing country on the planet, but won´t.
Liberalism kills all good things.
Obama is a cancer.
WAKE UP !
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Reply 6 - Posted by:
fayebeck, 12/19/2012 11:06:47 PM (No. 9075434)
#1 same to you jerk.
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Reply 7 - Posted by:
Rael, 12/19/2012 11:10:57 PM (No. 9075440)
NEVER EVER HAPPEN. Does anyone thing for even a second that the state of California will allow this to happen? Oil is bad oil is EEEEEVvvviiiilllll!!!!!!
I don´t see this ever happening.
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Reply 8 - Posted by:
SoCalGal, 12/19/2012 11:17:55 PM (No. 9075445)
A state that historically gets back in federal dollars far less than it contributes to the fed is annoying #1? Wait till he can´t get most of his fresh fruits and vegetables without having them shipped from Chile in the wrong season.
Many kneejerks confuse California´s present Dem politics with the entire state, its beauty, its natural resources, its at least 45% or so decent people. For most of its state history it was a Republican state. But kneejerks are not interested in history.
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Reply 9 - Posted by:
oh-heck, 12/19/2012 11:20:10 PM (No. 9075448)
FTA: Los Angeles-based Occidental Petroleum snapped up most of the leases sold at the auction, and California lawmakers have drafted new rules to deal with a boom in hydraulic fracturing.
NY decided that they needed to revise their environmental impact regulation in 2008. The latest version of the draft won´t complete its review process until sometime in January. The NY Environmental Regulator hasn´t decided yet whether the new rules will ever be implemented.
Its easy for a state to call time out. Five years later, there may not be anyone around to care when you call time in. By the way, TX oil production doubled while NY has been rewriting their rules.
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Reply 10 - Posted by:
killerbee, 12/19/2012 11:23:54 PM (No. 9075450)
It could be a boon to the California economy ... if the unions wouldn´t suck all the profits and innovation dry. But that´s going to happen because we are a union controlled state and that is our main problem.
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Reply 11 - Posted by:
Muncsdad, 12/19/2012 11:26:55 PM (No. 9075455)
#6, who is the jerk?
Those of us who live in states that don´t hate America are sick and tired of California, New York, Vermont, et al. Sick and tired of the hate spewing from those leftist--and broke--states.
How dare you call us jerks?
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Reply 12 - Posted by:
Muncsdad, 12/19/2012 11:30:18 PM (No. 9075460)
And to #8, your state´s past doesn´t much matter with its current rotting hell-hole status. Sorry, but you can keep the Left Coast.
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Reply 13 - Posted by:
Immanuel Goldstein, 12/19/2012 11:31:31 PM (No. 9075461)
Don´t confuse all Californians with the Hate America Hollywood crowd. There are plenty of good patriotic people in the Golden State who want to see us return to economic and energy sanity. Don´t write off California just yet.
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Reply 14 - Posted by:
The Advocate, 12/19/2012 11:41:14 PM (No. 9075468)
If true- this is great news. We live in The Belly of the Beast in LA. There are many good conservatives who are dismayed with the current administration. Every time he comes to LA to suck up dollars from the Libtards he alienates small businesses and residents who despise him and his Praetorian Guard. The public unions -especially the teachers- are insatiable. San bernardino and Stockton are in bankruptcy and the public unions are trying tomchange bankruptcy law- just like with GM. Don´t write us off- we are being overwhelmed with the Takers and the corrupt Politicians. Oil independence will break the shackles as more people experience financial freedom- something Obama and his Islamofascists are stifling.
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Reply 15 - Posted by:
chiller, 12/20/2012 12:11:04 AM (No. 9075487)
In the ensuing battle between greenies and bankrupt Gov Brown: I´ll buy some popcorn and go with ..........big oil ! ...and its revenues.
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Reply 16 - Posted by:
chiller, 12/20/2012 12:14:10 AM (No. 9075490)
....but it´s a close call in a state that would destroy the breadbasket of the world for the sake of an insignicant delta smelt. Words are inadequate for the idiocy of those in Sacramento.
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Reply 17 - Posted by:
Manitouman, 12/20/2012 12:15:15 AM (No. 9075491)
History is sooo ... Yesterday ...
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Reply 18 - Posted by:
MissMann, 12/20/2012 12:31:02 AM (No. 9075503)
HaHaHaHa! Today´s news, here in California, is all the new regulations going into effect against fracking.
California has a death wish.
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Reply 19 - Posted by:
Grant Hodges, 12/20/2012 12:49:08 AM (No. 9075511)
The oil industry has been aware of California´s shale oil monster for some time. But the joke in the industry is that the only that oil will be extracted will be by horizontal drilling from Nevada.
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Reply 20 - Posted by:
smcchk, 12/20/2012 1:18:36 AM (No. 9075525)
California´s voting map is almost all red with a thin strip of blue along the coast. It must be very frustrating. Never has a state had so much going for it and yet be so mismanaged. Reality truly means nothing to some people.
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Reply 21 - Posted by:
The Advocate, 12/20/2012 2:20:46 AM (No. 9075537)
Re 17 Believe the deliberate destructionof family farms for the Baitfish aka Delta smelt was engineered in DC to takeover the land by corporate interests. Boxer and Feinsteinndid Nothing.
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Reply 22 - Posted by:
flatwater, 12/20/2012 2:42:13 AM (No. 9075544)
Riiiiiiiiiigggghhhht.
California will produce oil about the same time I produce literature in praise of Communism.
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Reply 23 - Posted by:
Tom Kilbride, 12/20/2012 3:00:50 AM (No. 9075550)
Let the fracking begin. Lets see if the earthquake predictors are right or fearful fruit cakes..
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Reply 24 - Posted by:
Booneboy, 12/20/2012 3:40:59 AM (No. 9075561)
Hey!!!!! You forgot one thing. We don´t have enough refineries!!! And the DemoRats won´t let anyone build one. So, it looks like we will ship the oil to China.
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Reply 25 - Posted by:
mws50, 12/20/2012 5:28:48 AM (No. 9075597)
Also #25, where are they getting the drilling rigs? In Texas & the Dakotas, every possible drilling rig is already taken for the next 5+ years. And that includes the ones that are being built at a furious pace, right now!
We have TRILLIONS of barrels of oil under ground we own. We have enough natural gas to last for 500 years, under ground we own. We have a cadre of enviro-whackos doing everything they can to stop us from extracting all that oil and gas. We may have to "subdue" the whackos, with down-hole technology... (will they compact enough to fracture the oil-saturated rock?)
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Reply 26 - Posted by:
treecat, 12/20/2012 5:30:54 AM (No. 9075599)
I´d say odds go: 7 - 1 no gas production increase from California in next 22 years.
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Reply 27 - Posted by:
ocjim, 12/20/2012 7:18:08 AM (No. 9075726)
There´s not enough oil in the ground to quench the spending thirst our one-party Marxist Sacramento government. In fact, regardless of increased oil revenue, we´re going to need a considerable influx of federal $$$ to pay our bills and make good on all our generous pension promises. So we thank you responsible Red States in advance for carefully watching your own budgets and for chipping in in our hour of need.
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Reply 28 - Posted by:
mominNoCA, 12/20/2012 8:58:08 AM (No. 9075890)
South of Monterey? The coastal area is where the San Andreas Fault is. Every earthquake will be blamed on fracking. Fraudsters will start putting fuel in water wells and light them on fire, claiming oil production contaminates water.
Drilling will never happen, not in California.
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Reply 29 - Posted by:
Bur Oak, 12/20/2012 8:59:30 AM (No. 9075894)
The government may have sold the leases, but my guess is that there are already agreements that the environmentalists will sue to block drilling well into the future. By the way, why does the federal government still own this land? It ought to be sold to the highest bidder at a public auction.
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Reply 30 - Posted by:
Udanja99, 12/20/2012 1:04:06 PM (No. 9076298)
I just drove route 1 from Santa Cruz to LA and was shocked to see oil rigs off the coast of Santa Barbara. How did Moonbeam and all of the ecomoonbats let that happen?
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Reply 31 - Posted by:
mominNoCA, 12/20/2012 6:23:06 PM (No. 9076725)
#33,
I´ve been through the Bakersfield area many times, so I know. I was referring to the newly discovered shale south of Monterey. No way they´ll drill on the coast, especially California´s blue, blue coast.
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Reply 32 - Posted by:
PatPiano, 12/20/2012 10:33:01 PM (No. 9076949)
#32, those oil drilling rigs off the Santa Barbara coast have been idle since the 70"s.
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Below, you will find ...
Most Recent Articles posted by "Dreadnought"
and
Most Active Articles (last 48 hours)
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Most Recent Articles posted by "Dreadnought"
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Democrats push problem solvers in House contests
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Washington Post, by Paul Kane
Original Article
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Posted By: Dreadnought- 4/6/2013 11:38:26 PM
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Democratic Party officials believe that Kevin Strouse is exactly the kind of candidate who can help them retake the House next year. He’s a smart, young former Army Ranger — good qualities for any aspiring politician. But what party leaders really like is that Strouse doesn’t have particularly strong views on the country’s hottest issues. Immigration? Tax policy? “Certainly I have a lot of research to do,” Strouse acknowledged in an interview Thursday as he announced his candidacy in a suburban Philadelphia House district. Strouse’s candidacy reflects an emerging
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Texas prosecutors’ slayings unnerve rural Kaufman County
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Washington Post, by Stephanie McCrummen
Original Article
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Posted By: Dreadnought- 4/6/2013 11:33:08 PM
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KAUFMAN, Tex. — The judge was on the phone. “Yep, I said I’ll do anything,” Bruce Wood told the person on the other end, rubbing his forehead. “They asked me to do a eulogy. I don’t know what I’m going to say.” Elsewhere in the Kaufman County Courthouse, a sheriff’s deputy was handing out bulletproof vests. “I brought the smallest one,” he said to a secretary, who stared at the khaki armor as he explained how to adjust the side straps should the need arise. “These have the neck for a female.” Outside, two armed guards
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Vanishing workforce weighs on growth
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Washington Post, by Jim Tankersley
Original Article
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Posted By: Dreadnought- 4/6/2013 11:28:59 PM
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Put out an all-points bulletin: Millions of Americans have gone missing from the workforce. Every month that those would-be workers are gone raises the odds that they might never come back, dimming the prospects for future economic growth. The vanishing trend is more than a decade old, but it accelerated during the Great Recession. Throughout 2012, economists held out hope that it had stopped. But then came Friday’s jobs report, and hopes were dashed. The Labor Department reported that the U.S. labor force — everyone who has a job or is looking for one — shrank
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A Reporter Explains Why Gun Coverage Is So Biased
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Power Line, by John Hinderaker
Original Article
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Posted By: Dreadnought- 4/6/2013 9:13:14 PM
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Well, not intentionally. But Jim Ragsdale of the Minneapolis Star Tribune attended a conference in Chicago on covering gun issues, which he describes this way: “Covering Guns” brought reporters with front-line experience covering mass shootings in Tucson, Ariz.; Aurora, Colo.; Newtown, Conn., and Red Lake, Minn., to meet with gun experts and advocates and gun trainers. Sponsored by the Poynter journalism center and funded by the McCormick Foundation of Chicago, we gathered in a city that witnessed 506 homicides last year. The idea, I take it
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Report: Carbon Emissions in US Lowest Since 1994
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PJ Media, by Rick Moran
Original Article
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Posted By: Dreadnought- 4/6/2013 9:03:02 PM
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Carbon emissions in the US were at their lowest level in 2012 since 1994, according to figures released by the US Energy Information Administration. We did it without carbon trading scams, the EPA making carbon dioxide a poison, or obeying the dictates of the Kyoto climate Treaty. We did it partly because of decreased economic activity as a result of the Obama recovery-that-isn’t, but mostly because of good old fashioned market forces; competition between natural gas and coal: Energy-related carbon dioxide (CO2) emissions in 2012 were the lowest in the United States since 1994
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Video: Parents Turn on Fossil- Fuel Protesters at Tufts
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National Review Online, by Stanley Kurtz
Original Article
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Posted By: Dreadnought- 4/6/2013 8:33:04 PM
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When I tell campus horror-stories like “What’s the Matter With Vassar?” people ask if parents know what’s going on at these schools. I don’t think they want to know. But guess what happens when protesters step on others’ rights in full view of parents? Tufts has one of the most active campus fossil-fuel divestment groups. Lately these protesters have been infiltrating orientation sessions and campus tours for prospective students, mostly high school juniors traveling with their parents. Climate protesters interrupt these recruitment activities with questions
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Behind the Dismal Jobs Numbers: The ‘New’ Economy Takes Shape
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PJ Media, by Rick Moran
Original Article
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Posted By: Dreadnought- 4/6/2013 8:27:24 PM
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It is amazing just how wrong economists were in their predictions for the number of jobs that were to be created in March. The “consensus” figure was 200,000 — a far cry from the actual number created which was 88,000. Totally “unexpected,” as usual. In one way, you can’t blame them. After a better than average gain in February of 236,000 (revised upward this month to 268,000), along with some positive numbers in housing and consumer spending, there were no doubt many analysts who began breathing a sigh of relief and believing that the long-awaited jobs recovery was upon us.
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The New Climate Deniers?
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American Thinker, by David Lawrence
Original Article
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Posted By: Dreadnought- 4/6/2013 9:33:09 AM
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Rich Lowery in the New York Post (4-02-2013) accuses the liberals of being the new climate deniers, considering that they don´t recognize that there´s been no global warming for the last fifteen years. This shouldn´t surprise Lowery. When the liberals hang onto the neck of a cause, they don´t let go. They have ignored murders, rapes, wars, nuclear proliferation, and everything wrong with the world to focus in on their little area -- the horror of carbon emissions. You´d think liberals would have learned from their earlier panic about overpopulation
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Obama’s feeble salary ‘sacrifice’
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Washington Post, by Dana Milbank
Original Article
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Posted By: Dreadnought- 4/5/2013 11:13:50 PM
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“President Obama plans to give up 5 percent of his salary this year to draw attention to the financial sacrifice of more than 1 million federal employees who will be furloughed.” — The Washington Post, April 4 “Here’s the plan. We get the warhead and we hold the world ransom for 1 MILLION DOLLARS !” — Dr. Evil in “Austin Powers: International Man of Mystery” At the annual White House Easter Egg Roll this week, President Obama decided to shoot some hoops with the kids. He wound up going 2 for 22. The abysmal field-goal percentage — 9 percent
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Johns Hopkins’s and Planned Parenthood’s troubling extremism
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Washington Post, by George F. Will
Original Article
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Posted By: Dreadnought- 4/5/2013 11:05:52 PM
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We know Johns Hopkins University is devoted to diversity, because it says so. Its “Diversity and Inclusion Statement,” a classic of the genre, says the university is “committed to sharing values of diversity and inclusion .?.?. by recruiting and retaining a diverse group of students.” Hopkins has an Office of Institutional Equity and a “Diversity Leadership Council” that defines “inclusion” as “active, thoughtful and ongoing engagement with each other.” Unless you are a member of Voice for Life (VFL), an antiabortion group. Hopkins’s Student Government Association has denied VFL status
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Obama budget would cut entitlements in exchange for tax increases
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Washington Post, by Zachary A. Goldfarb and Karen Tumulty
Original Article
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Posted By: Dreadnought- 4/5/2013 11:02:41 PM
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President Obama will propose a budget next week that embraces a risky strategy of courting Republicans for a grand bargain on the debt while angering Democratic allies with cuts to the nation’s entitlement programs. White House officials said Friday that Obama’s budget would cut Medicare and Social Security and ask for less tax revenue than he has previously sought. The budget, to be released Wednesday, will fully incorporate the offer Obama made to House Speaker John A. Boehner (R-Ohio) during December’s “fiscal cliff” talks — which included $1.8 trillion in deficit reduction through spending cuts and tax increases.
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NRA tactics erode post-Newtown support for gun-control measures
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Washington Post, by Tom Hamburger
Original Article
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Posted By: Dreadnought- 4/5/2013 11:00:22 PM
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Sen Mark Begich declared a “sea change” in the politics of gun control immediately after the school shooting in Newtown, Conn., telling his local newspaper that he would not hesitate to buck the powerful National Rifle Association. But in the months since, the gun rights group has made itself impossible for the Alaska Democrat, and many other lawmakers, to resist. Begich has signed on as a co-sponsor of a bill, drafted in consultation with the NRA, that would change the way mental illness is reported in the background check system — a measure that critics say
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´My bangs are getting a little irritating´: Michelle Obama admits she already regrets her high-maintenance hairdo
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Daily Mail (UK), by Margot Peppers
Original Article
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Posted By: pineledger- 4/7/2013 7:43:42 AM
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Michelle Obama has admitted that she is already tired of the bangs she first sported in January. The First Lady said in an interview with Entertainment Tonight: ´Bangs are a day-by-day proposition. They´re starting to grow out, get a little irritating.´ Still, she hasn´t let her hairdo woes get her down. ´It´s okay,´ she said after her initial complaint. ´We´ll be good.´ The first indication that her hairstyle was becoming a burden came about last weekend, when Malia, 14, was spotted adjusting her mother´s hair during the White House Easter Egg Roll.
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Why Obama´s ´Best-Looking Attorney General´ Comment Was a Gaffe
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The Atlantic, by Garance Franke-Ruta
Original Article
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Posted By: Oblio- 4/6/2013 6:51:15 AM
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President Obama´s biggest gaffe yesterday when speaking of California Attorney General Kamala Harris was not in flirtatiously complimenting her as "the best-looking attorney general," but in introducing an observation from the system of beauty into a forum that was about the system of power.What´s that, you say? Irin Carmon does a great job in Salon in laying out the bounds of propriety for when it´s appropriate to talk about a woman´s looks as a general matter. But I´ve long felt we lack a solid theoretical underpinning for easily discussing these issues, and why precisely it is that
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McCain: ´I don´t understand´ GOP filibuster on guns
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Politico, by Jennifer Epstein
Original Article
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Posted By: JoniTx- 4/7/2013 12:18:14 PM
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Sen. John McCain says he doesn´t understand the threats from some of his Republican colleagues to filibuster a bill on background checks to buy guns. "I don´t understand it," the Arizona Republican said on Sunday of the threat coming from Sen. Rand Paul,Sen. Ted Cruz, Sen. Mike Lee and nine other Republicans. "The purpose of the United States Senate is to debate and to vote and to let the people know where we stand.” "What are we afraid of? ... If this issue is as important as we all think it is, why not take ... it up and debate?"
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Hillary Clinton Would Not ´Clear the Field´ for 2016
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New Republic, by Tod Lindberg
Original Article
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Posted By: StormCnter- 4/6/2013 5:22:36 AM
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No one is more preoccupied these days with Hillary Clinton´s 2016 plans than the Beltway political class—not even the former presidential candidate herself. To hear some tell it, her decision will be dispositive for all other Democrats thinking of entering the race. And pundits and reporters aren´t the only ones positing the "The Hillary Factor": No less than the House Democratic whip, Steny Hoyer, told BuzzFeed, “I don´t know that anybody would run against Hillary…. If she runs, she clears the field.” It´s an understandable conclusion, given Clinton´s stature in the Democratic Party and her 70 percent
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Obama critic apologizes for his ´poorly chosen words´ on gay marriage
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The Hill [Washington DC], by Alexandra Jaffe
Original Article
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Posted By: JoniTx- 4/6/2013 12:18:19 PM
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Neurosurgeon Ben Carson, considered by some to be a potential Republican contender for president, apologized to Johns Hopkins University for the "poorly chosen words" he used in expressing his opposition to gay marriage last month.“I am sorry for any embarrassment this has caused,” Carson said in the letter, reported in New York Magazine.(Snip) "Although I do believe marriage is between a man and a woman, there are much less offensive ways to make that point. I hope all will look at a lifetime of service over some poorly chosen words.” Carson will remain as commencement speaker at Johns Hopkins,
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Mother Of Slain Benghazi Officer To Sean Hannity: ‘They Want Me To Shut Up’
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Mediaite, by A.J. Delgado
Original Article
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Posted By: StormCnter- 4/7/2013 5:00:16 AM
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On Friday, Sean Hannity brought Pat Smith, mother of the late Sean Smith, on his radio program. The 34-year-old information management officer was one of four Americans murdered in the Benghazi embassy attack on September 11, 2012. In the chilling interview, a distraught Ms. Smith, in tears, pleaded for answers and spoke of the efforts to silence her. Ms. Smith first relayed how her son, prior to the attack, requested additional security in advance and warned the State Department: He did tell them, ahead of time, he typed it into his little typewriter over there,
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Vanishing workforce weighs on growth
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Washington Post, by Jim Tankersley
Original Article
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Posted By: Dreadnought- 4/6/2013 11:28:59 PM
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Put out an all-points bulletin: Millions of Americans have gone missing from the workforce. Every month that those would-be workers are gone raises the odds that they might never come back, dimming the prospects for future economic growth. The vanishing trend is more than a decade old, but it accelerated during the Great Recession. Throughout 2012, economists held out hope that it had stopped. But then came Friday’s jobs report, and hopes were dashed. The Labor Department reported that the U.S. labor force — everyone who has a job or is looking for one — shrank
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White House Blames Jobs Numbers on Sequester
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Breitbart´s Big Government, by Wynton Hall
Original Article
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Posted By: Dreadnought- 4/5/2013 8:02:58 PM
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The Obama White House is scrambling to blame Friday’s abysmal March jobs numbers on the sequester’s trimming of the rate of growth in federal budgets that have yet to fully commence. After the Labor Department announced that a mass exodus of 663,000 workers left the U.S. workforce last month and that job creation fell 112,000 jobs short of projections, Obama’s top economic adviser Alan B. Krueger, took to the White House blog to blame the sequester: It is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look
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The Secrets of Princeton
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New York Times, by Ross Douthat
Original Article
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Posted By: Oblio- 4/7/2013 8:08:09 AM
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Susan Patton, the Princeton alumna who became famous for her letter urging Ivy League women to use their college years to find a mate, has been denounced as a traitor to feminism, to coeducation, to the university ideal. But really she’s something much more interesting: a traitor to her class. Her betrayal consists of being gauche enough to acknowledge publicly a truth that everyone who’s come up through Ivy League culture knows intuitively —
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Beyonce, Jay-Z celebrate 5th anniversary in Havana, Cuba
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Los Angeles Times, by Nardine Saad
Original Article
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Posted By: Fiesta del sol- 4/6/2013 8:20:04 AM
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Beyonce and Jay-Z celebrated their fifth wedding anniversary in Cuba this week. The couple, who married on April 4, 2008, took in the sights of Old Havana, visited a school, dined on a rooftop terrace and strolled the fan-filled streets in their island best.(snip).The power couple declined to answer journalists´ questions about their visit to the island nation, but some outlets are reporting that the moguls are there as tourists, though that would be illegal because of the half-century embargo the U.S. has on the Communist country. However, the Miami Herald said Washington has issued special licenses for
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Obama Budget to Cap Retirement Accounts at $3 Million
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Breitbart´s Big Government, by Tony Lee
Original Article
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Posted By: Desert Fox- 4/5/2013 9:40:39 PM
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The budget President Barack Obama will submit on April 10 will contain a proposal that would prohibit individuals from accumulating more than $3 million in Individual Retirement Accounts (IRAs) and tax-preferred retirement accounts. According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals "to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving." "The budget would limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per
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