Article link: http://online.wsj.com/article/SB124588837560750781.html

 

Look, those of you who hate politics and/or love Obama need to take note of this "energy" bill that the Dems are trying to ram through. The Wall Street Journal - link above - in an article titled The Cap and Tax Fiction:
Democrats off-loading economics to pass climate change bill says:

 

"The whole point of cap and trade is to hike the price of electricity and gas [emphasis added] so that Americans will use less. These higher prices will show up not just in electricity bills or at the gas station but in every manufactured good, from food to cars. Consumers will cut back on spending, which in turn will cut back on production, which results in fewer jobs created or higher unemployment. Some companies will instead move their operations overseas, with the same result.

 

When the Heritage Foundation did its analysis of Waxman-Markey, it broadly compared the economy with and without the carbon tax. Under this more comprehensive scenario, it found Waxman-Markey would cost the economy $161 billion in 2020, which is $1,870 for a family of four. As the bill's restrictions kick in, that number rises to $6,800 for a family of four by 2035...

 

The reality is that cost estimates for climate legislation are as unreliable as the models predicting climate change. What comes out of the computer is a function of what politicians type in. A better indicator might be what other countries are already experiencing. Britain's Taxpayer Alliance estimates the average family there is paying nearly $1,300 a year in green taxes for carbon-cutting programs in effect only a few years.

 

Americans should know that those Members who vote for this climate bill are voting for what is likely to be the biggest tax in American history. Even Democrats can't repeal that reality." [emphasis added]

 

So far as economics are concerned, starting with the first Bush bailout, Washington, the Democrats, and Obama have been dead wrong. They are dead wrong with this bill again  - or their socialist agenda is working, take your pick. Take whatever appropriate action you deem fit with this...