Wednesday, May 13, 2009

Serious Economic Consequences

Jake Tapper seems to be one of the only mainstream journalists actually willing to continue doing his job now that Obama is in the White House. He notes a memo sent by the White House’s Office of Management and Budget points out that the proposed regulation of CO2 emissions will have a disastrous effect on the economy.

“Making the decision to regulate CO2 under the CAA for the first time is likely to have serious economic consequences for regulated entities throughout the U.S. economy, including small businesses and small communities,” says one comment in the memo....“Should EPA later extend this finding to stationary sources, small businesses and institutions would be subject to costly regulatory programs such as New Source Review.”

The stimulus bill that didn't, the gargantuan budget, the coming health care plan- and now this.

It'll be a miracle if there still is a US economy in four years time.

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