Minnesota U.S. Rep. Michele Bachmann points out Obama's $3.6 trillion budget triples the national debt within a decade, which is why she adamantly opposes it. She tells Newsmax TV Obama's "cap and trade" is really a tax on everyone for the use of energy. She says it will boost unemployment and drive businesses and jobs overseas to countries like China and India that don't have such a tax. She thinks this insidious scheme can be stopped, but only if people revolt quickly as Sen. Reid vows to ram it home by the end of August.
Bachmann correctly points out that energy costs will double under the "cap and trade" energy tax.
Team "O" is getting ready to join the international "climate change" fleecing of tax dollars and jobs in America.
Recently, Fox News obtained a UN document which details how a "climate change" plan will use fake science to induce a massive worldwide redistribution of wealth in an attempt to control the global economy.
A new study from Spain illustrates the economic detriment of the country's "green jobs" plan. For every so-called "Green Job" created, at least 2.2 jobs from related industries are lost. Net result: thousands of job losses at the expense of appeasing radical environmentalists.
A recent Heritage study suggests that Obama's "Cap and trade" energy plan may cost upwards of $7 Trillion. "
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 -- which he said last week he would sign -- may cost over $2 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".