If we have learned anything from the failed energy policies of every president since Richard Nixon, it is this: Reducing America's heavy oil import dependence is easier said than done. However, if America truly wants to return to its full potential economic growth rate, we must significantly reduce that oil import dependence.

Read more from the BookHow Democrats and Republicans Can Break Our Foreign Oil Addiction Overnight

The president's proposed tax cuts for business are a welcome departure from Keynesian stimulus. Earlier this week President Obama proposed tax cuts for business, including 100% expensing through 2011. In other words, firms that purchase new machines and other capital goods would be able to write them off immediately, instead of over many years.

Read more: Obama Discovers Incentives
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