Read Jim Hoft's latest column here:
Democrats know their cap and trade energy legislation will cripple the US economy. Barack Obama admitted this on the campaign trail in 2008 saying the program "would cause energy prices to skyrocket." Obama also promised an audience of supporters that cap and trade wouldbankrupt the coal industry. White House Budget Director Peter Orszag told George Stephanopoulos in a March 2009 interview that Obama's proposed cap and trade energy legislation would increase energy costs for everyone. Democratic Congressman John Dingell (D-MI) summed up cap and trade at a Congressional hearing on April 24th saying, "It's a Great Big Tax."
Cap and trade policies will likely cost Americans $700 to $1,400 dollars per family per year. The Department of Energy estimated GDP losses would be between $444 billion and $1.308 trillion over the 21-year period. Cap and trade also could cost the US 4 million jobs.
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