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Wednesday, July 01, 2009



The $175 amount comes from a CBO based on this bill on May 21 - read the report and you will find at this time the gross cost to be much more.

From the CBO Report base on bill May 21:

Lowest Quintile $425
Second Quintile $555
Middle Quintile $675
Fourth Quintile $815
Highest Quintile $1,380

Income Level Source - http://www.taxpolicycenter.org/numbers/displayatab.cfm?DocID=2007&topic2ID=40&topic3ID=81&DocTypeID=2

Lowest Quintile $18,981
Second Quintile $37,595
Middle Quintile $66,345
Forth Quintile $111,645

A CBO letter to Henry Waxman http://www.cbo.gov/doc.cfm?index=10376

Based on a review of H.R. 2998, the American Clean Energy and Security
Act, as amended and reported by the House Committee on Rules on
June 26, 2009, CBO and the Joint Committee on Taxation (JCT) estimate
that enacting the legislation would increase revenues by $873 billion over
the 2010-2019 period and would increase direct spending by $864 billion
over that 10-year period.

...CBO has not completed an estimate of the bill’s estimated
impact on discretionary spending.


Thanks, Joe.


People keep saying it will only cost consumers a "postage stamp a day." But the important thing is that's the cost in "a decade" (See the President's speech). What I want to know is: What is it going to cost comsumers next year?


Don’t Confuse Accounting Budgets with Real Economic Impacts.

CBO’s job is to project the bill’s effect on the federal budget. Here’s the bottom line, which is what the Washington Times story was reflecting:


James Raider

CAP and TRADE Will Create Companies TOO BIG TO FAIL

So what’s the real scoop? Ignore the proselytizers and find out from those who “shaped” the Bill ….



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