Hey, how about spending another $2 trillion?

By Michelle Malkin  •  March 18, 2009 09:49 AM

Because we aren’t digging a deep enough hole:

President Obama’s climate plan could cost industry close to $2 trillion, nearly three times the White House’s initial estimate of the so-called “cap-and-trade” legislation, according to Senate staffers who were briefed by the White House.

A top economic aide to Mr. Obama told a group of Senate staffers last month that the president’s climate-change plan would surely raise more than the $646 billion over eight years the White House had estimated publicly, according to multiple a number of staffers who attended the briefing Feb. 26.

“We all looked at each other like, ‘Wow, that’s a big number,’” said a top Republican staffer who attended the meeting along with between 50 and 60 other Democratic and Republican congressional aides.

The plan seeks to reduce pollution by setting a limit on carbon emissions and allowing businesses and groups to buy allowances, although exact details have not been released.

At the meeting, Jason Furman, a top Obama staffer, estimated that the president’s cap-and-trade program could cost up to three times as much as the administration’s early estimate of $646 billion over eight years. A study of an earlier cap-and-trade bill co-sponsored by Mr. Obama when he was a senator estimated the cost could top $366 billion a year by 2015.

A White House official did not confirm the large estimate, saying only that Obama aides previously had noted that the $646 billion estimate was “conservative.”

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Posted in: Enviro-nitwits

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Comments


  1. #1
    On March 18th, 2009 at 9:51 am, Rogue Cheddar said:

    My climate plan would be to rain on his parade.

    A White House official did not confirm the large estimate, saying only that Obama aides previously had noted that the $646 billion estimate was “conservative.”

    Oh the irony of it all!

  2. #2
    On March 18th, 2009 at 9:51 am, sonofdy said:

    My calculator hates you. Too many large numbers!!!

    ;-)

    P.S. If you don’t laugh you will cry.

  3. #3
    On March 18th, 2009 at 9:53 am, ajmontana said:

    …and people think Al Queda is our enemy, the most dangerous person is sitting in the Oval Office.

  4. #4
    On March 18th, 2009 at 9:53 am, sonofdy said:

    Every time I try to add up the cost of obamas spending, my calculator gives me a number with an E in it!!!

  5. #5
    On March 18th, 2009 at 9:54 am, sonofdy said:

    We all looked at each other like, ‘Wow, that’s a big number,’” said a top Republican staffer

    Like, totaly…

  6. #6
    On March 18th, 2009 at 9:55 am, Oink said:

    On March 18th, 2009 at 9:51 am, sonofdy said:

    Yeah, today I’m on the verge of tears. We are absolutely powerless.

  7. #7
    On March 18th, 2009 at 9:57 am, Jeff2161 said:

    Welcome to Fantasy Island Obamaland…

  8. #8
    On March 18th, 2009 at 9:58 am, sonofdy said:

    Is it a bad thing when the calculator I am using to add up this cost tells me

    “F it, I am moving to europe, you are all screwed”???

  9. #9
    On March 18th, 2009 at 9:59 am, jjmurphy said:

    In for a penny, in for a pound.

    Or,

    In for a dime, in for a dollar.

    It doesn’t really matter at this point. We are so deep in debt as a country they may as well spend a quadrillion dollars. They are alcoholics running the liquor store.

  10. #10
    On March 18th, 2009 at 10:01 am, ArizonaNeanderthal said:

    Cap and Trade could cost $646 billion over eight years or three times that amount and MUCH more. MUCH more to be sure. Besides the obvious inflation there are the plant shut downs and layoffs to consider and then the domino layoffs as those laid off workers stop buying goods and services, stop paying bill and mortgages.
    Cap and Trade was a cruel joke when John McCain proposed it and it is worse with a sitting President proposing it. This country is about to pay a terrible price for junk science. Welcome to Jimmy Carter’s Misery Index on steroids.


    Keep the change-I’ll keep my guns

  11. #11
    On March 18th, 2009 at 10:03 am, b-cat said:

    They are alcoholics running the liquor store.

    That would be better. Alcoholics would at least try.

  12. #12
    On March 18th, 2009 at 10:05 am, wrcnossen said:

    If the plan costs business over 2T dollars, the amount of corporate taxes lost will be some 600B. Spending up, revenue down. Sounds like a solid, workable plan.

    I am going to change my investments to shotguns, ammo, and garden seed.

  13. #13
    On March 18th, 2009 at 10:05 am, jsr said:

    Every time I try to add up the cost of obamas spending, my calculator gives me a number with an E in it!!!

    This has become an problem in recent weeks and I have been working on a solution. We need a new currency to replace the dollar, perhaps the unit being the Unicorn Horn. Henceforth one Unicorn Horn will have a value of $100 billion in 2008 dollars. So now we can say that the cap and trade program will only cost the taxpayers 20 Unicorn Horns.

  14. #14
    On March 18th, 2009 at 10:05 am, jjmurphy said:

    AzN – Everything you wrote is true. The consequences are there for all to see if they will look. But, the collectivists are incapable of seeing these consequences. They operate on the level of “feeling”, not thinking. “If it feels good, do it. What consequences?”

  15. #15
    On March 18th, 2009 at 10:07 am, jjmurphy said:

    They are alcoholics running the liquor store.

    That would be better. Alcoholics would at least try.

    b-cat – Good point.

  16. #16
    On March 18th, 2009 at 10:09 am, sonofdy said:

    A little off color but it kind of fits to me.

    The phedophiles have been put in charge of the day care.

    I know, ugly, but so is the situation.

  17. #17
    On March 18th, 2009 at 10:09 am, wighttrasch said:

    They are all Renfields–doing the master’s bidding.

  18. #18
    On March 18th, 2009 at 10:14 am, NJ-Aviator said:

    $1.5 trillion here…. $2.0 trillion there….

    Where does this moron Obama think this money is coming from? He’s going to bankrupt the country, then he’ll be begging Europe to bail us out, only they’re is worse shape because of exactly the things Obama is attempting to do here.

    What an idiot and a fool.

  19. #19
    On March 18th, 2009 at 10:14 am, sonofdy said:

    Where does this moron Obama think this money is coming from?

    Hey thats only 35 unicorn horns!!!

  20. #20
    On March 18th, 2009 at 10:18 am, NJ-Aviator said:

    sonofdy said:

    Where does this moron Obama think this money is coming from?

    Hey thats only 35 unicorn horns!!!

    LOL….

  21. #21
    On March 18th, 2009 at 10:19 am, Jeff2161 said:

    Try using a googol. That is a 1 followed by a hundred zeros.

  22. #22
    On March 18th, 2009 at 10:30 am, walterc said:

    wrcnossen said:
    I am going to change my investments to shotguns, ammo, and garden seed.

    The only plan that may work. Until you run out of ammo.

    Anyone know how that birth certificate thing is going? I figure that’s our only hope of getting this guy out of there before permanent damage is done.

  23. #23
    On March 18th, 2009 at 10:33 am, Freddy said:

    VIA the EPA, California is desperatly trying to find a way to implement a massive tax on carbon THIS year. (They really really need the money!)

    Does the Obama consider the local zealots need for carbon controls or does it just pile on top of them? This 2,000,000,000,000 number is gonna come in a bit ‘light’.

  24. #24
    On March 18th, 2009 at 10:35 am, Flyoverman said:

    In my lifetime I have had to contend with the following in my life:

    nuclear fallout
    heavy indutrial metals in my water
    second hand smoke from both parents
    lead based paints
    coal smoke
    dioxin
    mtbe
    clordaine
    acid rain, etc. etc. etc.

    Pardon me if I am not overly concerned with carbon dioxide which my plants and trees dearly love.

  25. #25
    On March 18th, 2009 at 10:36 am, NJ-Aviator said:

    Oh this is priceless… slightly o/t.

    Obama Thanks Himself, Irish PM Repeats Speech in Teleprompter Meltdown
    Irish Prime Minister Brian Cowen reads word for word a speech that Obama had just read from a teleprompter, while the president apparently thanked himself for the invitation.

    http://www.foxnews.com/politics/first100days/2009/03/18/teleprompter-gone-bad-obama-thanks-irish-pm-repeats-speech/

    I feel bad for the Irish PM, but not for Obama. How bad do you think he’d be if he was never able to use a teleprompter?

  26. #26
    On March 18th, 2009 at 10:37 am, right4life said:

    I just hope the liberals up in the northeast end up freezing cause they can’t pay for the high cost of heating fuel…now thats change they DESERVE..

  27. #27
    On March 18th, 2009 at 10:37 am, RedDog said:

    Pelosi Tells Illegal Immigrants That Work Site Raids are Un-American

    The speaker of the House told a group of both legal and illegal immigrants recently that enforcement of immigration laws in the United States is “un-American.”

    Talk about hubris. How many trillions will we spend for this too? Please tell me this is an impeachable offense – surely a violation of her oath of office.

  28. #28
    On March 18th, 2009 at 10:39 am, cheapseat said:

    a million here, a million there, pretty soon you are talking about real money.

    a billion here, a billion there and pretty soon you are talking about real money.

    a trillion here, a trillion there and pretty soon you are talking about bankruptcy of the country’s financial system, and zimbabwe inflation.

  29. #29
    On March 18th, 2009 at 10:39 am, On-my-soap-box said:

    A White House official did not confirm the large estimate, saying only that Obama aides previously had noted that the $646 billion estimate was “conservative.”

    Look!!! A conservative in the White House. :roll:

  30. #30
    On March 18th, 2009 at 10:41 am, RedDog said:

    On March 18th, 2009 at 10:09 am, wighttrasch said:
    They are all Renfields–doing the master’s bidding.

    HEH-HEHHH HEH-HEHHH HEH-HEHHH. Yessssss master O-dracula.

  31. #31
    On March 18th, 2009 at 10:42 am, BOB said:

    On March 18th, 2009 at 10:19 am, Jeff2161 said:
    Try using a googol. That is a 1 followed by a hundred zeros.

    Yeah, and if that don’t cut it try a googolplex, which is 10 raised to the googal power or, One followed by a googol of zeros.

    Kind of like Obama and his followers.

  32. #32
    On March 18th, 2009 at 10:48 am, txvet2 said:

    On March 18th, 2009 at 9:59 am, jjmurphy said:

    It doesn’t really matter at this point. We are so deep in debt as a country they may as well spend a quadrillion dollars. They are alcoholics running the liquor store.

    Point of fact, “quadrillion” is more than a concept. According to some of the financial sources I read, the total obligations worldwide for CDOs runs well over 1 quadrillion dollars, and they were afraid that an AIG collapse would bring down the whole thing – in effect, bankrupt the whole world.

  33. #33
    On March 18th, 2009 at 10:49 am, Ed Mahmoud abu al-Kahoul said:

    OT, but potentially terrible news if one suspects The One has Stalinist tendencies.

    Will Congress kill farmers’ markets?
    What this will do is force anyone who produces food of any kind, and then transports it to a different location for sale, to register with a new federal agency called the “Food Safety Administration.” Hmmmmm? (Via a TennZen tweet)

    Interesting. A co-sponsor’s husband has Monsanto as a client.

    UPDATE: Govtrack.us. And here’s the Library of Congress’ Thomas. And here’s the Cato Institute’s WashingtonWatch.

    UPDATE II: The bill would appear to even cover some fishing boats and potentially your downtown hot dog street vendors. More here.

    The claim, I suppose, is food safety. The real reason, no doubt, is to ensure taxes are collected. And, as far as Obama and the Marxists go, a feature, not a bug, is that food can be rationed to ‘uncooperative’ parts of the country if it comes to that. Mark of the beast kind of thing, nobody can buy or sell food without being registered with the government.

  34. #34
    On March 18th, 2009 at 10:51 am, Dexter Alarius said:

    “We all looked at each other like, ‘Wow, that’s a big number,’”

    No s#!t s#er1ock!
    1 Trillion dollars is a stack of $1000 bills… 62 MILES HIGH! Our Dear Leader (ptooey!) is set to spend more in his administration than has been spent by the Government since it was formed in 1789!

  35. #35
    On March 18th, 2009 at 11:00 am, Ed Mahmoud abu al-Kahoul said:
  36. #36
    On March 18th, 2009 at 11:01 am, dan708 said:

    I keep wondering if the youngsters who helped elect Obama are having any buyer’s remorse. At some point, some (but not all) of those brainwashed kiddies will start thinking for themselves. 2010 is looking more and more promising.

  37. #37
    On March 18th, 2009 at 11:02 am, madshark said:

    On March 18th, 2009 at 10:35 am, Flyoverman said:
    In my lifetime I have had to contend with the following in my life:

    nuclear fallout
    heavy indutrial metals in my water
    second hand smoke from both parents
    lead based paints
    coal smoke
    dioxin
    mtbe
    clordaine
    acid rain, etc. etc. etc.

    Pardon me if I am not overly concerned with carbon dioxide which my plants and trees dearly love.

    You forgot global cooling…

  38. #38
    On March 18th, 2009 at 11:06 am, TXGator said:

    Does all this dissent help Michelle’s biceps?

  39. #39
    On March 18th, 2009 at 11:12 am, 7thson said:

    It’s time for the American people to make their voices heard. There are dozens of tea parties taking place all over the country on April 11 & 15. Take a day off from work (if you still have a job), make a sign and hit the streets! If you don’t have a job, you’ve got no excuse! Let’s make a noise so loud that will have Dear Leader and his useless idiots in Congress and the MSM shake in their boots.

  40. #40
    On March 18th, 2009 at 11:26 am, Flyoverman said:

    On March 18th, 2009 at 11:02 am, madshark said:

    You forgot global cooling…

    Good catch.

    I also forgot asbestos, and polluted fish. The list is endless

    CO2 is such a joke.

  41. #41
    On March 18th, 2009 at 11:29 am, CWinNY said:

    As a history buff, I am struck by some of the parallels between Barack Obama and Benito Mussolini. Both were elites, members of the intelligentsia (supposedly), both were authors of books (BM actually wrote his), both were so gifted as orators that listeners to speeches sometimes swooned. Both had massive egos and often posed with chins in the air, looking down their noses at the unwashed masses. Both made disastrous policy decisions (BO is just getting started).

    It is my hope, nay prayer, that the backlash that is inevitable from these policies is limited to politics only (unlike Italy, where the backlash from those having to suffer for the disastrous decisions of Benito turned violent). I hope that BO is hung by his heels, politically speaking only, and not literally, as was Mussolini.

  42. #42
    On March 18th, 2009 at 11:33 am, Stillwaiting said:

    I propose a new federal program called S.A.V.E.–stop all volcanic eruptions. Monitoring them is not enough, we’ve got to stop them from spewing carbon into the atmosphere. The gov’t needs to squander invest whatever it takes to stop all volcanic eruptions!!! It can’t be accomplished in one year, one presidential term, or even one lifetime. But if we unite and begin to sacrifice all other human pursuits for this one asinine noble purpose, our great-great grandchildren will curse thank us for our stupidity wisdom. It won’t be pleasant, but The One will lead us to disaster victory!!!

  43. #43
    On March 18th, 2009 at 11:36 am, Stillwaiting said:

    The last sentence should have read:

    It won’t be pleasant, but The One has started us on the path to disaster victory!!!

  44. #44
    On March 18th, 2009 at 11:50 am, Dexter Alarius said:

    On March 18th, 2009 at 11:36 am, Stillwaiting said:
    The last sentence should have read:

    It won’t be pleasant, but The One has started us on the path to disaster victory!!!

    You were right the first time. The 22nd Amendment will be repealed in time for Dear Leader to be elected in 2016 for his 3rd (of several) term.

  45. #45
    On March 18th, 2009 at 12:12 pm, Buy Danish said:

    But, but… Obama’s not raising taxes one dime for 95% of Americans.

  46. #46
    On March 18th, 2009 at 12:17 pm, dan708 said:

    On March 18th, 2009 at 11:26 am, Flyoverman said:
    On March 18th, 2009 at 11:02 am, madshark said:

    You forgot global cooling…
    Good catch.

    I also forgot asbestos, and polluted fish. The list is endless

    CO2 is such a joke.

    I would add that we all made it this far without bike helmets.

  47. #47
    On March 18th, 2009 at 12:27 pm, lgm said:

    How about spending a trillion dollars to invade a country that did not attack us and was not a threat? Oops, done that.

    How about spending a trillion dollars in unfunded tax cuts? Done that too.

    But spend in a way that most people actually benefit from — to stop global warming — that’s over the top.

  48. #48
    On March 18th, 2009 at 12:30 pm, hawkeye54 said:

    As Everett Dirksen was thought to have said, ” A billion here, a billion there, and pretty soon you’re talking real money”

    A trillion here, a trillion there, pretty soon you’re talking play money.

    Why should TEH ONE and the Dem majority care since its not their money anyway.

  49. #49
    On March 18th, 2009 at 12:35 pm, Rogue Cheddar said:

    Hey lgm, did your mother have any kids that lived?

  50. #50
    On March 18th, 2009 at 12:36 pm, et said:

    Say its not so; the Dems are now for trickle down economics.

  51. #51
    On March 18th, 2009 at 12:39 pm, Rogue Cheddar said:

    lgm, I apologize for that previous post, it was over the line. In my defense, I can only point to my exasperation with your unfunded tax cuts/global warming drivel. I meant nothing personal.

  52. #52
    On March 18th, 2009 at 1:20 pm, Danceswithdachshunds said:

    North Pole team on half rations in bad weather

    Hartley, the team’s photographer, who has frostbite in his left toe, said he had hoped the supply plane would arrive Tuesday in time to celebrate his 41st birthday.

    “We’ve just heard we’re not going to get a re-supply today. I had hoped we might celebrate my birthday with fresh supplies, but right now there’s no prospect of a party,” he told survey’s headquarters in London.

    The team aims to gather data to complement satellite and submarine observations to measure the sea ice and plot how fast it is disappearing.

    Global warming is believed to be the main culprit in the rapidly melting north polar ice cap that is freeing up new sea routes and untapped mineral resources on the ocean bottom.

    The only question in my mind is how stupid could they be to tempt the wrath of the “Gore Effect”? You know that if they had gone there to hunt seal they’d be enjoying days in the 20′s and light winds.

    It almost makes me want to hope that they … naaa, forget it! … the schadenfreude index would be too much to take at my age.

  53. #53
    On March 18th, 2009 at 2:09 pm, rightisright said:

    lgm, your an idealogical fool…get off the kool-aid before it’s too late.

  54. #54
    On March 18th, 2009 at 3:17 pm, Danceswithdachshunds said:

    lgm: How about spending a trillion dollars in unfunded tax cuts?

    (Nancy is that you?)

    “Unfunded tax cuts” ?

    That implies there would be such a thing as “funded tax cuts”? Those would be….?

    Did it EVER cross your mind that government could actually … spend less if they take less from us?

    I think I know where LGM would cut government spending – in his dreams nightmares.

  55. #55
    On March 18th, 2009 at 4:12 pm, ITookTheRedPill said:

    Keep in mind that Obama’s Communist Global Poverty Act is coming, too, and carries an estimated price tag of $845 billion.

  56. #56
    On March 18th, 2009 at 10:06 pm, jangar said:

    Hey, how about spending another $2 trillion?

    F-You…..and the horse you rode in on JackObama

  57. #57
    On March 19th, 2009 at 9:55 am, lgm said:

    Danceswithdachshunds said (#54):

    That implies there would be such a thing as “funded tax cuts”? Those would be….?

    Under Paygo, all tax cuts had to be “paid for” by spending cuts. Cutting taxes while raising spending — – that’s an unfunded tax cut. Clinton stopped Congressional Republicans from doing this. Bush encouraged it. That’s how Clinton got a balanced budget.

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