Thursday, October 15, 2009

CBO: Cap and Trade Will Negatively Impact Jobs

Obama and the Democrats tell us that passing even more government regulation aimed at the environment will help revive the economy.

Oops, somebody forgot to tell the non-partisan Congressional Budget Office (CBO). They say there will be a net loss of jobs.

"The shifts will be significant," the CBO director said. "We want to leave no misunderstanding that aggregate performance -- the fact that jobs turn up somewhere else for some people -- does not mean that there are not substantial costs borne by people, communities, firms in affected industries and affected areas. You saw that in manufacturing, and we would see that in response to changes that this legislation would produce."

I have written before about the estimated cost of this cap and trade nonsense. Don't drink the Kool-Aid when Congress tells you it's only a little bit per day.

You can find the original article here.

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