|Obama to Announce Cap and Trade Policy This Week|
February 21, 2009
Obama to Announce Cap & Trade Policy This Week... Will Cost US 4 Million Jobs
Along with raising taxes on businesses, raising taxes on the "rich," and
allowing the Bush tax cuts to expire...
President Obama will also announce the implementation of an expensive cap and
trade energy policy this week to battle pretend global warming.
The plan could cost the US over a trillion dollars.
The New York Times is just tickled pink to report this news today:
The potential costs for a cap and trade plan are enormous.
Human Events reported:
The potential costs to America from cap-and-trade policies are enormous. The
Department of Energy estimates that S. 2191, the Warner-Lieberman
cap-and-trade proposal, will increase the cost of coal for power generation by
between 161% and 413%. DOE estimates GDP losses (see chart) over the 21-year
period they forecast, at between $444 billion and $1.308 trillion, with
particular damage to the manufacturing sector. (This gives some hope that
organized labor will, in a rare occurrence, oppose Democratic leaders on this
issue.) Winegarden estimates that this bill could increase unemployment by
2.7% or about 4 million jobs. In fact, companies are already preparing to
avoid increased level and volatility of American energy prices by setting up
factories and partnerships in countries which won’t be subject to
cap-and-trade restrictions…proving with real-world behavior of producers that
no carbon-limiting regulation can succeed if it is not universal.
Is it any wonder that the stock market just had its worst January since 1896?
Is is any wonder Wall Street gave Obama a Big Fat "F" for his first month in office?
Is it any wonder the stock market is off nearly 10% from the day before the inauguration?
...Welcome to the age of hope and change.