RSS
Home
Obama Cap and Trade lays more debt and taxes on Americans?
Print
Email
RSS
Subscribe
Printing money/AP Photo
As the American public scrutinizes the various bills passed by the U.S. House of Representatives, the first to create a thunderous backlash was against Obama's Health Care Reform, especially the Public Option.
The climate bill, Cap and Trade, may be the next one as questions arise as to how much more debt will be incurred in funding government agencies over seeing it. And what will it cost the ordinary citizen in increased taxes.
How many billions of dollars will Congress have to appropriate to pay all for these new employees needed and where will the money come from--the American taxpayer?
The Environmental Protection Agency (EPA) that oversees pollution regulations would have to cover 7,400 facilities under Cap and Trade. How many employees would this take to also manage the 21 federal agencies?
The nonpartisan Congressional Budget Office said the government expansion would cost $8 billion over a 10-year period. So far the Senate Appropriations Committee has set aside $177 million for the trading commission's fiscal 2010 budget, 21 percent more than in the 2009 budget. If Cap and Trade becomes law, this could be just a drop in the debt bucket.
The Democrats maintain that the costs would be covered by "user fees" but won't those be passed on to the consumer in, for example, higher bills from utility companies that supply electric and gas to businesses and households?
According to the Las Vegas Review-Journal,
Recent surveys show Americans cooling to global warming, and they're even less keen on environmental policies they believe might raise power bills or imperil jobs. Those sentiments could mean a tougher road ahead for elected officials looking to fund investments in renewable power or install a carbon cap-and-trade system.
Americans are now asking their representatives how much bigger will it make the Obama government and how much it will cost each person individually-- the taxpayers and end-use that will foot the bill.
Sources:
http://www.lvrj.com/news/52828402.html
http://www.washingtontimes.com/news/2009/aug/17/climate-bill-would-bloat-federal-agencies/?source=newsletter_must-read-stories-today_headlines
More articles to read:
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d10-Obama-Cap-and-Trade-sends-jobs-to-China-and-India
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m4d2-Obama-creating-the-next-Great-Depression
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m5d12-Obama-spending-and-tax-programs-explained-by-experts-on-audio
Want to participate in the discussion? Add your comments.
Want to stay informed about politics in the U.S?
Subscribe at the top of this column to receive e-mail updates from the National Watchdog Politics examiner.
Related Articles:
Comments
