President Barack Obamas Cannabis Industry Statements Mark Historical Support for the Cannabis Industry in a Recent Interview with Barbara Walters of ABC News
President Obama, in an interview with Barbara Walters of ABC News on December 13, 2012, stated, "It would not make sense for us to see a top priority as going after recreational users in states that have determined that it's legal." Colorado Governor John Hickenlooper proclaimed Amendment 64 as amending the state constitution on December 10, 2012 just days after Washington State Initiative 502 formally became law, legalizing the recreational use of cannabis.
CNBC estimates that the Cannabis industry is a $40 Billion dollar a year business. Internal estimates illustrate the Cannabis industry is closer to $73 Billion a year, with some industry estimates placing it over $100 Billion. There are now 18 states that have some type of legal Cannabis Program, along with several countries including Canada, the Czech Republic, and Israel.
Global political and business leaders have come out publicly in support of ending what billionaire Richard Branson has described as the war on drugs: a "trillion dollar failure." The James A Baker III Foundation voiced support to ending the war on drugs. President Obama and Republican nominee Mitt Romney during the elections both made a statement in support of ending the war on drugs. This past week Richard Branson's son, with his father's full support, released an anti-prohibition documentary narrated by Morgan Freeman entitled "Breaking The Taboo." The YouTube release follows The Global Commission on Drug Policy's study of the U.S. war on drugs and includes 147 interviews with leaders around the world, concluding drug prohibition to be the "biggest failure of global policy in the last 40 years."
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