This just in from the Wall Street Journal:
House Speaker Nancy Pelosi has put cap-and-trade legislation on a forced march through the House, and the bill may get a full vote as early as Friday. It looks as if the Democrats will have to destroy the discipline of economics to get it done.
Despite House Energy and Commerce Chairman Henry Waxman’s many payoffs to Members, rural and Blue Dog Democrats remain wary of voting for a bill that will impose crushing costs on their home-district businesses and consumers. The leadership’s solution to this problem is to simply claim the bill defies the laws of economics.
Their gambit got a boost this week, when the Congressional Budget Office did an analysis of what has come to be known as the Waxman-Markey bill. According to the CBO, the climate legislation would cost the average household only $175 a year by 2020. Edward Markey, Mr. Waxman’s co-author, instantly set to crowing that the cost of upending the entire energy economy would be no more than a postage stamp a day for the average household. Amazing. A closer look at the CBO analysis finds that it contains so many caveats as to render it useless.
They go on to note that by the year 2035 this legislation will cost the average American family a whopping $6800 per year. The democrats refused to suspend the rules if unemployment hits 15% or the cost of electricity increases by more than 10%. They don’t care! They don’t give a rat’s behind about you or me or anyone that isn’t part of their special interest group. Wake up America.
Click here to find out what you can do about it.
My state, New Mexico, gets 80% of its energy from coal. We are among the poorer states. Our representatives all support this legislation, which I posit is the single worst piece of legislation ever created. They will slaughter the folks on fixed income, and middle and lower classes. Lifestyles will change, perhaps irrevocably. I have never in my life been an alarmist, but I have never lived through more dangerous times – which wouldn’t have to be this bad were it not for the geniuses (whom I suspect of malevolance) in Washington.
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