In his news conference last night, the most boring hour ever on television (yule log broadcasts aside), President Obama reiterated his desire to pass a "cap and trade" on carbon emissions as part of his energy plan.
"Cap and trade" programs have killed jobs in California and the European Union.
The CBO estimates that "cap and trade" generally decreases revenue to the Federal Government, leading to an increased deficit.
Obama's "cap and trade" energy plan may cost over $1 trillion and up to 4 million jobs.
Cap and trade bills are nothing short of a government re-engineering of the American economy. With its aggressive targets to reduce emissions from fossil fuel use, it would put the nation on a path of serious economic harm not justified by any benefits.
Not to mention, science has yet to show that "cap and trade" will actually do anything for so-called "climate change".
It may even top $2 Trillion!
Will "cap and trade" make even make it through Congress?
Fox News reports:
House Democratic leaders have decided against using fast-track budget rules to ram through President Obama's environmental initiative known as cap and trade, FOX News has confirmed.
The move comes as the House is about to start wading through Obama's $3.6 trillion budget Wednesday.
Special budget rules enable lawmakers to use what's called "reconciliation" which synchs up the tax code with each year's budget needs. Budget rules are unique in Congress. And the typical Senate option of filibustering a measure is not allowed in reconciliation.
House Speaker Nancy Pelosi, D-Calif., has advocated moving Obama's environmental plan, known as cap and trade, through the Senate on reconciliation so it won't be subject to a filibuster or need a supermajority of 60 votes to break a filibuster.
However, contrary to an earlier AP report, House sources told FOX News that it remains unclear whether lawmakers will try to use reconciliation to attach a major overhaul of the nation's health care system to the budget, thus inoculating it from a filibuster.
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