The Cap and Trade bill is a dangerous example of feel-good legislation that only the party loyal and under-informed could vote for. Congressman Cleaver is at least one of those two. We can't afford this kind of representation in Congress.
The following is an excerpt from CBO Grossly Underestimates Cost of Cap and Trade (Waxman-Markey) published by The Heritage Foundation | June 24, 2009 | David Kreutzer, Karen Campbell, Nicolas Loris:
(read the entire article HERE.)
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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.
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Monday, June 29, 2009
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