Fed study: Climate bill spells gloom for jobs

The Washington Times ^ | August 5, 2009 | Stephen Dinan

[chuck_the_tv_out]

Despite President Obama's prediction that it would create new jobs, the climate change bill passed by the House will mean fewer jobs by 2030 than if Congress did nothing at all, according to the first comprehensive study of the measure by the federal government.

[...]

Mr. Obama told chief executives that the legislation "holds the promise of millions of new jobs -- jobs, by the way, that can't be outsourced."

Mr. Chu repeated the assertion Tuesday.

But a chart in the EIA report showed the employment rate -- just like the economy as a whole -- worsening for the first several years, improving slightly in the midterm, peaking in 2024 and then declining steadily. It showed 0.25 percent fewer jobs in 2030 under the Democrats' bill, with the manufacturing sector suffering a 2.5 percent lag.

For the economy as a whole, immediate energy price spikes would be followed by relative calm as the economy adjusted. But when stricter rules go into effect in 2025 "the rapid increase in energy prices causes the economy to contract," EIA said.

The House bill imposes a limit on overall U.S. greenhouse gas emissions and tightens that cap over time, requiring polluters to either reduce their emissions or offset their pollutants by paying others to reduce their emissions. The system is known as "cap-and-trade."

[steelyourfaith]

 

Beam me to Planet Gore !

[Always Right]

Despite President Obama's prediction that it would create new jobs, the climate change bill passed by the House will mean fewer jobs by 2030 than if Congress did nothing at all, according to the first comprehensive study of the measure by the federal government.

Duh! The bill makes no sense. A bill who main outcome will be more tax revenue and higher energy costs, can't produce jobs, it can only kill them.

[jwparkerjr]

The pattern is perfectly clear. The One says whatever he thinks the most voters want to hear, it’s reported by the MSM as fact and it’s on to the next lie. Then those charged with studying what was said by The One do their study and it turns out he was off, usually by a country mile.

By the time the truth comes out we’re at least a dozen fabrications beyond the one that’s been studied and the pattern starts all over again.

[G Larry]

Obama spells doom for American jobs!
His;
Fed bailout kills jobs,
Anti-energy plan kills jobs,
Anti-healthcare plan kills jobs,
Tax policy kills jobs,
Defense policy kills jobs,
Trade policy kills jobs,
Cash for Clunkers kills jobs, undermines charities, destroys used car market, delays the decline in car sales, wastes useful assets by destroying the old cars, supports foreign car sales over domestics!

[Freedom'sWorthIt]

Obama and the Damnorats will not be happy until the majority of hardworking middle class Americans are jobless and bankrupt.

[LibLieSlayer]

Dang!!! That kenyan can certainly lie... big old smelly, rotten and in your face lies!

LLS

[Doogle]

bttt

[MissDairyGoodnessVT]

“jobs that can’t be outsourced”, I get it, little kids poking around in my garbage; my neighbors acting as spies to see if I’m re-cycling, people taking down my license tag number because I have anti-obama stickers on it? what’s next??

[Dilbert San Diego]

Yep, there are supposed to be all these “green jobs” created as we make changes in energy and cap and tax and all that. But where will those jobs come from? who will pay the paycheck; what companies will create the jobs? Will they be gov’t bureaucratic jobs? More Dept of Energy jobs; exactly what is a green job???????

[MissDairyGoodnessVT]

imho i think bam is going to start an Energy Corps similar to the “national security forces” he wants to implement... $1,000.00 monthly stipend and other miscellaneous fringe benefits on housing,etc... little energy brownshirts-all the college kids who can’t find jobs