Thursday, June 25, 2009

Cross Your Fingers...Pray...Call Your Reps Today

The dreaded Cap N' Trade bill is up for vote in the House tomorrow.

Here's an excellent analysis in the WSJ - http://online.wsj.com/article/SB124588837560750781.html

But here's the crux of what you need to know -

The hit to GDP is the real threat in this bill. The whole point of cap and trade is to hike the price of electricity and gas so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.

When the Heritage Foundation did its analysis of Waxman-Markey, it broadly compared the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035.

5 comments:

Carleton & Robyn said...

Meddling - all this meddling, and I really don't know how much better off we are...if at all...
Carleton

Britt said...

Damn! Damn! Damn! This is serious stuff! Americans were SOO concerned that Wacko kicked the bucket that they didn't even realize that one of the most dreaded bills passed the House yesterday. I hope the Senate is smarter than the House. I'm very skeptical and nervous, and frankly I'm just scared to see where this country is going- day by day by day.

Britt said...

Last thought- Hannity did his man on the street bit the other day- NO ONE had a FREAKIN' clue what Cap N' Trade was- one guy thought it was something they were going to do at MJ's funeral! WHY ARE MOST PEOPLE IN AMERICA SO STUPID?!! One lady said, "Oh dear God, I won't not never have to work no more thanks to Obama!" I thought to myself- is she seriously that DUMB?! Unfortunately for most of us the answer is yes.

Natalie said...

I can not believe it passed. Oh my gosh. Don't get me started. Stupid environmentalists.

The Checketts Glue said...

It all frustrates me!!! I can't believe the things that are going on right now.
I hope you and your family are doing well and haveing a great summer.
Bre