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August 5, 2009

Government Confirms: Cap and Trade Would Cripple Economy, Make Unemployment Explode

Posted by Dave Blount at August 5, 2009 10:36 AM

This will come as no surprise to anyone with an IQ above a plant's — passage of Obama/Pelosi's Tax & Charade package would drive up unemployment and cripple the economy:

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.
The report by the Energy Department's Energy Information Administration said the bill would lead to small increases in electricity costs for consumers — what Democrats said was an affordable sacrifice for the environmental benefits of lowering greenhouse gas emissions. …
The report said the average cost to a household by 2020 would be $114, though those costs would more than double to $288 by 2030 as the rules on polluters tighten.

Since these figures come from the very bureaucracy that is looting us, multiply by a factor of 10.

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.

Don't you love how our rulers set these time bombs to go off after they will no longer be in office?

Meanwhile, major league polluters like China, India, and Brazil continue to laugh off the idea of reducing their harmless CO2 emissions. They are trying to grow their economies, whereas our moonbat rulers are openly conspiring to destroy ours.

In addition to throwing hundreds of thousands out of work, Tax & Charade will also increase our dependence on Arab oil, as it has lower carbon content than Canadian oil.

The study predicts that consumer prices will rise by as much as 14% as a result of the bill, but does not explain how the stated goal of controlling global weather will be accomplished.

Many of FDR's policies were also tailor-made to drive up unemployment. I wonder why a statist who exploited the Great Depression to vastly expand government power would want to do that.

On a tip from The MaryHunter.