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The ever-increasing cost of c(r)ap-and-t(i)rade

By Michelle Malkin  •  May 18, 2009 03:27 PM

If you haven’t phoned your congressional reps yet over the ever-increasing cost of the Dems’ c(r)ap-and-t(i)rade global warming proposals, what are you waiting for? Call 202-224-3121.

As I’ve noted before, the national eco-taxes are in trouble with nervous Blue Dog Democrats. But the plan isn’t going to go down without the mobilization of tens of thousands of Tea Party activists spreading the word and pressuring both parties in Congress.

The Heritage Foundation has just released a new economic analysis of the Waxman-Markey bill:

Though the proposed legislation would have little impact on world temperatures, it is a massive energy tax in disguise that promises job losses, income cuts, and a sharp left turn toward big government.

Ultimately, this bill would result in government-set caps on energy use that damage the economy and hobble growth–the very growth that supports investment and innovation. Analysis of the economic impact of Waxman-Markey projects that by 2035 the bill would:

* Reduce aggregate gross domestic product (GDP) by $9.6 trillion;
* Destroy 1,105,000 jobs on average, with peak years seeing unemployment rise by over 2,479,000 jobs;
* Raise electricity rates 90 percent after adjusting for inflation;
* Raise inflation-adjusted gasoline prices by 74 percent;
* Raise residential natural gas prices by 55 percent;
* Raise an average family’s annual energy bill by $1,500; and
* Increase inflation-adjusted federal debt by 26 percent, or $29,150 additional federal debt per person, again after adjusting for inflation.

The Washington Examiner weighs in: “That is a prescription for wrecking American prosperity for decades to come.”

Haven’t we been force-fed enough of those recipes already?


Get on the phone.

Several key Democrats from industrial and oil states threw their support behind a draft climate bill Monday as a House committee began work on massive legislation that would impose the first nationwide limits on greenhouse gases.

While Democratic sponsors of the 948-page bill called it essential to shift the nation away from fossil fuels to cleaner energy sources and deal with global warming, Republicans argued it would send energy prices soaring and threaten economic growth.

“Our nation is at a crossroads,” declared Rep. Henry Waxman, D-Calif., the committee’s chairman “We can continue to look the other way and leave these problems to our children, or we can adopt a new energy policy for America.”

Waxman in recent weeks has spearheaded delicate closed-door negotiations with other Democrats on the Energy and Commerce Committee, hoping to structure the bill so as to get enough support to push it to the House floor, despite expected unified Republican opposition.

The negotiations appeared to bear fruit when two key Democrats on the committee—Reps. John Dingell of Michigan and Gene Green of Texas—announced their support of the bill. Last week, Rep. Rick Boucher, D-Va., who has had protection of coal interests a priority, also endorsed the legislation.

Poll: What’s the dumbest ‘climate change’ hot take of the year (so far)?

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“Science,” but not really

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Self-perpetuating joke

Global warming predictions for snow-free, sweltering winters are happe… wait, never mind

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Missed it by THAT much

Effects of man-made climate change turn on a dime again, Part XXIV

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Snow job

Categories: Enviro-nitwits, global warming