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Despite President Obama's prediction that it will create new jobs, the global warming bill passed by the House of Representatives will mean fewer jobs by 2030 than if Congress did not act at all, according to the first comprehensive study of the measure by the federal government.
The Energy Information Administration report, requested by the two Democrats who wrote the House bill, says the short-term economic consequences are considerable, especially as rapid increase in energy prices causes the economy to contract.
The House passed its bill June 26 on a 219-212 vote, and a week later Mr. Obama said the legislation
"holds the promise of millions of new jobs -- jobs, by the way, that can't be outsourced"
But the EIA report, in a chart examining employment, reports that if the bill were implemented, employment in the manufacturing sector would suffer a 2.5 percent drop in jobs... [snip]
According to the worst-case scenario [assuming you didn't work in one of the above destroyed manufacturing jobs] -- if technology doesn't 'materialize' [!] and other countries refuse to cooperate on offsets -- consumer prices could be 14 percent higher than they would otherwise be without the 'global warming' bill...
[And on and on - it's economic suicide -- prepare for a 24/7 MSM blizzard of coverage on this report...]
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