Young attributed the nation's deficit to a lack of production and manufacturing, a result of an increase in regulation and permitting processes, as well as costly lawsuits, for stifling the nation's ability to produce.

"We consume, we don't produce. The only way to pay the deficit off is to produce," said Young. "Why is this? It's not because of labor, it's because of permits, regulations and lawsuits. This is forcing manufacturing overseas, and we then have to buy those goods to bring them back into the U.S."

The nation is also crippled by its dependency on foreign oil, he said.

"The biggest challenge we have in the economy in terms of production is the consumption of foreign-bought fossil fuels," said Young. "This reminds me of the gentleman who cuts his wrist and then turns (and) asks for a transfusion on this side to keep him alive. The transfusion is borrowed dollars. And yet we are bleeding ourselves to death in this nation today, because some say we can no longer run fossil fuels. You all know that this is nonsense."

The nation needs fossil fuels to run trains, ships, planes and trucks.

"You can't run these off of windmills and solar panels," he said. "They're good, (windmills and solar panels) but they are not any good for moving heavy or bulky products. The production of our nation's natural resources is necessary for these types of transportation."

But while society won't take responsibility for its consumerism, Young said turning to the government is not the answer either.

"The problem is some are blaming others for their problems. The only solution they see is through government interference, and that's not good for democracy or the country."

"What we should be concentrating on is the building of the infrastructure, with ports to get rail to those minerals in the Arctic and accessible roads to get to tidewater," he said. "Lets concentrate on this and do it together. Let's make our own bread instead of buying it at Safeway. This is the only way that this country will survive."

A Republican, Young is again in the minority party. During his time in Congress, he has spent 22 years in the minority and 12 years in the majority.

"When we were in the majority, we were just as guilty," he said. "We didn't make the changes that we should have. We allowed the executive branch to take control and Congress did not review the agencies' regulations, which now impedes ability to produce. It slows down progress."

In retrospect, Young said Congress should have read all the agencies' regulations more closely, but stressed that each document should stand for a legal review so it can't be changed or misinterpreted later.

"I always say if you want something screwed up, let Congress do it," said Young.

Young also talked about the recent interest in the Arctic, discussing visits by Chinese geologists interested in the Alaska Arctic.

"I am excited about what is going on the Arctic," said Young. "Did you know that all of the natural resources that man uses today exist in the Arctic? The Chinese believe that there is more oil at the North Pole than anyplace else in the world."

Alaska is considered as part of the Arctic nation that consists of Russia, Canada, Iceland, Greenland, and the U.S. because of Alaska.

Rob Stapleton is a reporter for the Alaska Journal of Commerce in Anchorage.