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Waxman-Markey: Man-Made Disaster
IBD Editorials ^ | June 25, 2009 | Investor's Business Daily

Posted on 06/25/2009 5:07:18 PM PDT by WhiteCastle

Fiscal Policy: The House of Representatives is preparing to vote on an anti-stimulus package that in the name of saving the earth will destroy the American economy. Smoot-Hawley will seem like a speed bump...As we've said before, capping emissions is capping economic growth. An analysis of Waxman-Markey by the Heritage Foundation projects that by 2035 it would reduce aggregate gross domestic product by $7.4 trillion. In an average year, 844,000 jobs would be destroyed, with peak years seeing unemployment rise by almost 2 million. Consumers would pay through the nose as electricity rates would necessarily skyrocket, as President Obama once put it, by 90% adjusted for inflation. Inflation-adjusted gasoline prices would rise 74%, residential natural gas prices by 55% and the average family's annual energy bill by $1,500.

(Excerpt) Read more at ibdeditorials.com ...


TOPICS: Business/Economy; Editorial; Front Page News; Government; News/Current Events
KEYWORDS: 111th; agriculture; algore; bho44; bhoenvironment; capandtax; capandtrade; carboncredits; carbondioxide; carbonoffsets; carbontariff; carbontax; cleanenergy; climate; climatebill; climatechange; co2; coal; cows; drillbabydrill; economy; ecoterrorism; edmarkey; electricity; emissions; energy; energypolicy; energyprices; energytax; epa; farmers; gdp; globalwarming; gore; gorebullwarming; greenhousegas; henrywaxman; heritagefoundation; hr2454; ibd; joblosses; jobs; junkscience; markey; methane; nancypelosi; nostrildamus; obama; offsets; pelosi; stimulus; taxes; taxhike; taxincrease; unemployment; waxman; waxmanmarkey
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1 posted on 06/25/2009 5:07:19 PM PDT by WhiteCastle
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To: WhiteCastle

Smoot-Hawley for our times sounds appropriate. Hopefully it won’t take a worldwide conflict to pull us out of the downward spiral.


2 posted on 06/25/2009 5:11:30 PM PDT by Feasor13
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To: WhiteCastle
Yep. And for what?

Higher Taxes and Economic Devastation in Return for ... Nothing?

Regardless of the CBO's cost estimates of the Waxman-Markey cap-and-trade program, the necessary second part of the question--what benefits do the costs generate?--remains unanswered. Americans will get almost nothing in exchange for these higher taxes, and the legislation will provide nothing for future generations except more debt and less economic opportunity. According to climatologist Chip Knappenberger, Waxman-Markey would moderate temperatures by only hundredths of a degree in 2050 and no more than two-tenths of a degree at the end of the century.[8] This does not sound like a great deal for the next generation--millions of lost jobs, trillions of lost income, 50-90 percent higher energy prices, and stunning increases in the national debt, all for undetectable changes in world temperature.

The CBO analysis of Waxman-Markey fails to take into account all the adverse effects that will ripple through the U.S. economy if cap and trade becomes law. CBO's grossly underestimated costs means Members of Congress will be grossly misinformed when voting on the legislation.

Let's not be absorbed by Hollywierd and unfaithful governors. WAKE UP PEOPLE!

3 posted on 06/25/2009 5:18:31 PM PDT by Daffynition ("If any of you die, can I please have your ammo?" ~ Gator113)
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To: WhiteCastle
Just observe Henry Waxman for a while, legislatively, politically, or socially. And it will become graphically obvious to see the disasters hanging over the United States of America. That applies to a bunch of other Congressmen, and President, but old Henry is a perfect example.

Hey, we the American People elected him, maybe even legitimately.

4 posted on 06/25/2009 5:22:12 PM PDT by jnsun (The LEFT: The need to manipulate others because of nothing productive to offer)
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To: Feasor13
I guaran-damn-tee you that the next "program" those morons in DC will create will be "energy stamps" for all the poor, elderly, women and children who are freezing to death. Or roasting because they can't afford the air conditioning...and the elders can't afford gas to get to the Dr. office...oops, nevermind, I forgot that there won't be any Dr. offices to go to after 0bamacare.

PLEASE EVERYONE, CALL YOUR ELECTED REPS.

5 posted on 06/25/2009 5:24:35 PM PDT by cfrels
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To: WhiteCastle

We are SO screwed!!!


6 posted on 06/25/2009 5:34:54 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: WhiteCastle

We will soon be a 3rd world country. Energy starved , because our politicians are not too bright!!!


7 posted on 06/25/2009 5:47:44 PM PDT by wbones8765 (The worst idea ever)
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To: WhiteCastle

Environmental Groups See Divide over Landmark Climate, Energy Bill Weakened by Industry Lobbying
http://www.democracynow.org/2009/5/22/climate_debate

Cap-and-Trade Does More Harm than Good
http://www.commondreams.org/view/2009/06/25-3


8 posted on 06/25/2009 5:51:48 PM PDT by Lorianne
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To: WhiteCastle

That headline assumes that Waxman and Markey are actually men.


9 posted on 06/25/2009 5:55:09 PM PDT by rfp1234 (Phodopus campbelli: household ruler since July 2007.)
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...

Climate Bill Showdown: Obama, Dems Pressing Hard
Associated Press | June 25, 2009
Posted on 06/25/2009 4:03:07 PM PDT by reaganaut1
http://www.freerepublic.com/focus/news/2279536/posts


10 posted on 06/25/2009 6:04:55 PM PDT by SunkenCiv (http://www.troopathon.org/index.php -- June 25th -- the Troopathon)
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To: WhiteCastle

Cap & Trade + Card Check + Socialized Heath Care = End of the USA.


11 posted on 06/25/2009 6:09:55 PM PDT by Domandred (Hope is the first step on the road to disappointment.)
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To: SunkenCiv

Isn’t, under the new terminology, a “man-made disaster” a terrorist act?

‘nuf said...


12 posted on 06/25/2009 6:35:00 PM PDT by bigheadfred (Negromancer !!! RUN for your lives !!!)
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To: wbones8765
We will soon be a 3rd world country.

I'm afraid you are right.

Freedom works, sheepleism wanton of direction doesn't.

We are rapidly losing our freedoms.

13 posted on 06/25/2009 6:37:34 PM PDT by EGPWS (Trust in God, question everyone else)
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To: wbones8765

We need CHANGE come 2010


14 posted on 06/25/2009 6:39:06 PM PDT by ronnie raygun
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To: rfp1234
That headline assumes that Waxman and Markey are actually men.

Waxman is a BIG man capable of toting a two way train tunnel on his face.

Don't mess with him...

15 posted on 06/25/2009 6:40:27 PM PDT by EGPWS (Trust in God, question everyone else)
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To: ronnie raygun

Yes, we definetly need to change in the Senate and the House. 2010 will go a long way towards determing what happens to this country. That is if we still have anything left before it gets here.


16 posted on 06/25/2009 6:41:42 PM PDT by wbones8765 (The worst idea ever)
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To: Domandred
Cap & Trade + Card Check + Socialized Heath Care = End of the USA.

+immigration reform = End of USA

Actually, any one of these four gems can end our Republic for good. If combined, the destruction to this country is unfathomable.

17 posted on 06/25/2009 6:46:58 PM PDT by kara2008 (Government cannot be the solution when government is the problem)
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To: WhiteCastle; 11B40; A Balrog of Morgoth; A message; ACelt; Aeronaut; AFPhys; AlexW; ...
DOOMAGE!

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You have been pinged because of your interest in environmentalism, alarmist wackos, mainstream media doomsday hype, and other issues pertaining to global warming.

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Support for climate bill growing among Democrats

Democrats Pushing for ‘Job Killer’ Climate Bill: Rep. Cantor

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18 posted on 06/25/2009 7:14:34 PM PDT by Tolerance Sucks Rocks (Barack Obama: in your guts, you know he's nuts!)
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To: WhiteCastle

You think gas prices are high at $2.90 a gallon, wait until we see those european prices, upward $6-$7 per gallon, in today prices.


19 posted on 06/25/2009 7:27:35 PM PDT by rawhide
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To: cfrels

But Obamacare will take care of the elders so the govt will not have to pay for them.


20 posted on 06/25/2009 7:57:30 PM PDT by Feasor13
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