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March 04, 2009

Obama's Cap and Trade Slash and Burn Plan for Destroying What's Left of the Economy

He promised electric prices would "skyrocket." He vowed his scheme would force new coal pants -- cleaner ones -- to go bankrupt.

He promised this. And he's delivering. Neo-Neocon links Steven Den Beste's very useful old essay on the problems of scale in addressing energy needs -- long story short, the tiny output from various "green" energy sources cannot even make a dent in the US power demand.

Bear in mind, we are in the midst of an economic crisis which one economist guesses is 20% likely to become a depression. And in this environment of plummeting consumer spending and business activity, Obama is proposing a scheme which will further reduce the income of every American family from $700 to $1400 per year.

Obama likes to push the economic catastrophe button to scare up support for his outsized spending plans. FWIW, I do believe we face a potential economic catastrophe. But does Obama? Does he really? If so, why is he sticking a dagger into dying man only barely clinging to life?



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posted by Ace at 02:32 PM

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