First Doug Elmendorf undercut the Obama administration on health
care. Now his Congressional Budget Office is going
off message on cap and trade:
The CBO director added that although the risks of
climate-related impacts on the economy were very difficult to
quantify, "many economists believe that the right response to
that kind of uncertainty is to take out some insurance, if you
will, against some of the worst outcomes."
The CBO estimates that the House-passed climate legislation, a
template for the Senate version, would reduce gross domestic
product by up to 0.75% by 2020 and 3.5% by 2050.
"The net effect of that we think would likely be some decline
in employment during the transition because labor markets don't
move that fluidly," Mr. Elmendorf said, testifying before the
Senate Energy and Natural Resources Committee...
The country's politics might not move that fluidly either.
Elmendorf and the CBO know this legislation is bad for America,
they just don't want to outright say it for fear of retribution
from the administration. Millions of Americans would lose their
jobs and how long would they (we) be out of work? No one knows,
but it's not something I want to find out. Visit
http://tiny.cc/pxIgi to voice your opposition to cap and trade.
DCTJ| 10.16.09 @ 8:10AM
Elmendorf and the CBO know this legislation is bad for America, they just don't want to outright say it for fear of retribution from the administration. Millions of Americans would lose their jobs and how long would they (we) be out of work? No one knows, but it's not something I want to find out. Visit http://tiny.cc/pxIgi to voice your opposition to cap and trade.
bert| 4.14.10 @ 10:46PM
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