Saturday, June 27, 2009

Cap & Trade Passes: Americans lose.

In their (now everyday) underhanded way, the Democrats in the US Congress passed this economy killer. Eight Republicans (update) turned their backs on America, while 44 Democrats revealed some common sense. Read it here and see if your representative has any common sense or not.

Underhanded because the renamed and revised 1300 page bill (Here) , with amendments (H.R. 513) was brought to the floor for debate early in the morning (3 AM) and voted on it at 7:17 Pm the same day. I wonder how many of our representatives were on hand for that? I wonder if anyone other than Rep. John Boehner (R-OH) and his staff read any of it? House Resolution 587 limited debate, changed the name to HR 2998 and designates the bill as "read". Read by whom? Clerks & Staff? I hope you read it.

In an email to constituents, Rep. Vern Buchanan writes:
"The 1,200-page bill was being rewritten hours before the scheduled vote to attract support. Washington is broken, and nowhere is this more evident than in the fact that complicated, far-reaching legislation is being brought to the floor that no member could possibly have read ahead of time."
It is amazing that anyone could have read the thing while it made it's way through 13 committees in 3 days. ( The review period for each committee of 3 hours each was ordered by the Speaker.

Here are some of the mechanisms included to bankrupt the middle, now that they've bankrupted the US financial, mortgage and automobile industries.

Health care is next.

CBO and the Joint Committee on Taxation (JCT) estimate that over the 2010-2019 period
enacting this legislation would:
Increase federal revenues by about $846 billion; and
Increase direct spending by about $821 billion.
The US Congress and the current president are planning to raise your taxes by and additional $846 billion

$846 billion in new taxes!

The Heritage Foundation...
"An analysis of the Waxman-Markey bill (as reported out of the House Committee on Energy and Commerce) by The Heritage Foundation found that unemployment will increase by nearly 2 million in 2012, the first year of the program, and reach nearly 2.5 million in 2035, the last year of the analysis. Total GDP loss by 2035 would be $9.4 trillion. The national debt would balloon as the economy slowed, saddling a family of four with $114,915 of additional national debt. Families would also suffer, as the bill would slap the equivalent of a $4,609 tax on a family of four by 2035."

The Heritage Foundations' Web Memo 2504, How the Waxman–Markey Climate Change Bill Would Affect the States, by Congressional District breaks the costs down. Speaker Nancy Pelosi pushed this for in her district: The personal income loss for 2012 is $560.24 Million and averages $327.30 each year through 2035. In Author Henry Waxman's district it is –$550.66 and –$318.93. Edward Markey's district: –$560.24 and –$324.47. In my district (13 FL, Rep. Vern Buchanan) it will be –$504.97 in 2012 and –$292.46 each year through 2035. This means that in my district alone it will cost a total of $7,231,550,000.00 lost to the government through 2035.

The AP describes the bill as
"an effort to curb global warming"
Uh, OK.

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