Subject: txt grn engry -
The director of the Congressional Budget Office warned the Senate Energy and Natural Resources Committee that proposed climate change legislation would impose "significant costs" on America's GDP and employment. That’s not exactly what proponents had promised.
According to CBO chief Douglas Elmendorf, the Waxman-Markey bill passed in the House last June would reduce GDP and equate to the average household annual costs of up to $925. Hardly the “cost of a postage stamp” promised by the White House.
And the CBO director admitted that even those figures may be severely understated:
"The uncertainties are very large, even for 2020, and they get larger over time”
He identified one of the uncertainties of “the cost of reducing carbon emissions” as just “how readily the economy can move" in response, admitting that the CBO is only "guessing the rate."
The highest accounting authority in the land is only guessing the rate used in its cost analysis of the proposed largest tax-hike in history?
Wow hardly covers it.
['Insanity' works better. If we're dumb enough to allow this we deserve the consequences - but our children?]
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