The Cap and Tax Fiction - WSJ.com
It's been 100+ here in SA for the past few weeks. It's been so hot and tiring working in that heat (not an air conditioned shop!) that I came home last night and fell asleep by 7 and didn't wake again until it was time to go to work this morning. Without the AC in my home, I'd have a very hard time with this kind of heat. If they go with cap and trade, I'd barely be able to afford to eat if I wanted AC.
More at the site.House Speaker Nancy Pelosi has put cap-and-trade legislation on a forced march through the House, and the bill may get a full vote as early as Friday. It looks as if the Democrats will have to destroy the discipline of economics to get it done.
Despite House Energy and Commerce Chairman Henry Waxman's many payoffs to Members, rural and Blue Dog Democrats remain wary of voting for a bill that will impose crushing costs on their home-district businesses and consumers. The leadership's solution to this problem is to simply claim the bill defies the laws of economics.
Their gambit got a boost this week, when the Congressional Budget Office did an analysis of what has come to be known as the Waxman-Markey bill. According to the CBO, the climate legislation would cost the average household only $175 a year by 2020. Edward Markey, Mr. Waxman's co-author, instantly set to crowing that the cost of upending the entire energy economy would be no more than a postage stamp a day for the average household. Amazing. A closer look at the CBO analysis finds that it contains so many caveats as to render it useless.
It's been 100+ here in SA for the past few weeks. It's been so hot and tiring working in that heat (not an air conditioned shop!) that I came home last night and fell asleep by 7 and didn't wake again until it was time to go to work this morning. Without the AC in my home, I'd have a very hard time with this kind of heat. If they go with cap and trade, I'd barely be able to afford to eat if I wanted AC.