Sunday, June 28, 2009
What's That Stench?
I don’t know the technical definition of Marxism, but I know it stinks. In fact, I bet it smells a lot like the putrid odor that is wafting out of Congress these days. Something in those hallowed halls has gone terribly...rotten.
The House of Representatives, once populated by great men, great thinkers, great lovers of individual freedom and protectors of private property, is now, through its Democrat majority, a fully-baked product of the Obama Administration – a cesspool of radical thought, and even more radical legislation.That we sent to Congress an individual who so comfortably swims in those foul waters is a measure of our gullibility. Gullibility and simple trust that this man would go to Washington and fight the good fight – fight to keep us free, as he is supposed to do. Fight to protect and defend the Constitution, as he is sworn to do. Instead, time and time again he votes to enslave our economy, and by extension enslave us, to a gaggle of federal bureaucrats.Worse yet, he votes with liars and America-haters. He votes with thugs and sneaks.
He’s part of a majority that promised transparency, yet rams bills through with 300-page amendments issued in the blackest part of night, bills that are so impactful that they transform the basic relationship between government and private industry; bills that are passed before they are even presented in their final form, and hence, cannot even have been read.I cannot call this representation, and I cannot sit idly by and pretend that a few bucks and a few jobs is a fair tradeoff for the destruction of the country that I love. A
merican men and women have died to defend our rights and liberties for over 200 years, but now the ghosts of those brave soldiers must look on in horror, as our current so-called “representatives” filch those liberties, piece by piece, in the middle of the night like a gang of sneak-thieves.Reprehensible.
I don’t know whom you represent, Michael McMahon, but it sure ain’t me.I cannot promise that you will be defeated in 2010, Congressman, but I do promise you this: by the time Staten Islanders march into that voting booth, they will be educated. They will know how you are voting, and what the real impacts of those votes will be – not the fluffy spin you will put on them in a four-color brochure.
No, I cannot reach everyone in the 13th, I don’t have the money or the platform - but I won’t stop trying. Your votes, and your often-insulting defense of them, have succeeded in creating a small, tough core of activists on Staten Island. Probably nothing for you to worry about – yet. But every day, the word seeps out to more and more people, and more and more people become aware and alert…and engaged.To whatever extent I have anything to say about it, Congressman McMahon, Staten Islanders will not be sleep-walking into the voting booths in 2010. They will be voting with their eyes wide open.We are paying attention, now. House by house, block by block, Staten Islanders are being roused from their slumber.
Posted by Frank S. at 7:33 AM
Monday, June 29, 2009
SCOTUS overturns Sotomayor on emRicci/em
June 29, 2009
SCOTUS overturns Sotomayor on Ricci
Thomas Lifson
On a 5-4 vote, the Supreme Court overturned the Ricci case, in which white firefirefighters were denied promotion because not enough minorities passed it the promotion exam.
It is good the Court ruled against targeting white males for discrimination. But the bad news is that 4 justices disagree, with Sotomayor haviung decided with the minority at the appellate court level.
So WHY would we want a supreme court justice, who 6 out of 7 of her opinions that went up to the supreme court were overruled?! Does this make sense? Obviously she is a lousy judge if the supreme court over turns her decisions 86% of the time. Well there is the fact that she is a Latina and she came from the projects of the Bronx. So i guess that is more important than her Judicial record.
SCOTUS overturns Sotomayor on emRicci/em
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SCOTUS overturns Sotomayor on Ricci
Thomas Lifson
On a 5-4 vote, the Supreme Court overturned the Ricci case, in which white firefirefighters were denied promotion because not enough minorities passed it the promotion exam.
It is good the Court ruled against targeting white males for discrimination. But the bad news is that 4 justices disagree, with Sotomayor haviung decided with the minority at the appellate court level.
So WHY would we want a supreme court justice, who 6 out of 7 of her opinions that went up to the supreme court were overruled?! Does this make sense? Obviously she is a lousy judge if the supreme court over turns her decisions 86% of the time. Well there is the fact that she is a Latina and she came from the projects of the Bronx. So i guess that is more important than her Judicial record.
SCOTUS overturns Sotomayor on emRicci/em
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Obama: To Meddle, Or Not To Meddle
June 29, 2009
To Meddle, Or Not To Meddle
Randall Hoven
President Obama wants to make sure he is not seen as meddling in Iran. But apparently, it is quite OK to meddle in Honduras. The Wall Street Journal reports
The Obama administration worked in recent days to prevent President Manuel Zelaya's ouster, said a senior U.S. official. The State Department, in particular, communicated to Honduran officials on the ground that President Barack Obama wouldn't support any nondemocratic transfer of power in the Central American country.
"We had some indication that a move against Mr. Zelaya was afoot," said a U.S. official briefed on the diplomacy. "We made it clear it was something we didn't support."
When it came to Iran, Obama didn't want to meddle.
But there is a common denominator: President Obama does whatever it takes to keep anti-American dictators in power. In Iran: don't meddle. In Honduras: meddle. In Venezuela: soul shake. In Saudi Arabia: bow.
To Meddle, Or Not To Meddle
Shared via AddThis
To Meddle, Or Not To Meddle
Randall Hoven
President Obama wants to make sure he is not seen as meddling in Iran. But apparently, it is quite OK to meddle in Honduras. The Wall Street Journal reports
The Obama administration worked in recent days to prevent President Manuel Zelaya's ouster, said a senior U.S. official. The State Department, in particular, communicated to Honduran officials on the ground that President Barack Obama wouldn't support any nondemocratic transfer of power in the Central American country.
"We had some indication that a move against Mr. Zelaya was afoot," said a U.S. official briefed on the diplomacy. "We made it clear it was something we didn't support."
When it came to Iran, Obama didn't want to meddle.
But there is a common denominator: President Obama does whatever it takes to keep anti-American dictators in power. In Iran: don't meddle. In Honduras: meddle. In Venezuela: soul shake. In Saudi Arabia: bow.
To Meddle, Or Not To Meddle
Shared via AddThis
The High Cost of Cap and Trade: Why the EPA and CBO Are Wrong
June 24, 2009
The High Cost of Cap and Trade: Why the EPA and CBO Are Wrong
by heritage.org
Fact Sheet #34
The EPA Is Wrong
False Assumptions: Proponents of cap and trade point to the low cost estimates by the EPA and CBO as a reason to pass Waxman-Markey. The EPA underestimates that the bill would cost households an additional $140 a year.
Based on Consumption: The EPA's numbers are based on consumption changes, which are typically less than income changes, as families respond to income losses by saving less.
Uses Discounting: Discounting is a reasonable approach for comparing costs and benefits that occur at widely different times. However, costs of climate change rarely use a discounted rate this high. Without discounting, the impact per household is $1,288 in 2050. Adjusting household size to reflect a family of four raises this cost to over $1,900.
Assumes Rebates: The EPA assumes all the allowance proceeds will be rebated directly to consumers. This clearly isn't the case, since most of the allowances have been promised to industry.
No New Taxes?The loss that the EPA calculates doesn't include the cost of the energy tax to consumers, since the EPA assumes that all of the money is rebated. The cost of the energy tax is actually $4,600 per family of four in 2035.
The CBO Is Wrong
False Assumptions: CBO underestimates that the bill would cost households $175 in 2020. They assume that the carbon tax isn't a tax if the government spends the money. When have Americans ever seen all of a tax returned to them? It's like suggesting your tax rebate will be as large as the amount taken from your paycheck every year.
Numbers Don't Add Up: The CBO's allowance cost numbers don't add up. They say the allowance price will be $28. Since there are 5.056 billion tons of CO2 equivalent in the cap that year, that implies a $141 billion gross cost. They list $91.4 billion.
Hard to Believe: In the CBO's June 5 analysis, they projected allowance revenues of $119.7 billion, $129.7 billion, $136 billion, $145.6 billion and $152.9 billion for the years 2015-2019. It's hard to believe that the next number in that series would be $91.4 billion.
Ignores Economic Damage: The CBO doesn't include the decrease in GDP as a result of the bill. The GDP hit in 2020 would be $161 billion (in 2009 dollars) according to our analysis. For a family of four, that is $1,870 that they ignore.
Cap and Trade Is Wrong
It's a Massive Energy Tax
It Will Not Make a Substantive Impact on the Environment
It Will Kill Jobs
It Will Cause Electricity Bills and Gas Prices to Sharply Increase
It Will Outsource Manufacturing Jobs and Hurt Free Trade
It Will Make You Choose among Energy, Groceries, Clothing and Haircuts
It Will Be Highly Susceptible to Fraud and Corruption
It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst
It Will Cost American Families Nearly $3,000 a Year
President Obama Admitted "Electricity Rates Would Necessarily Skyrocket" Under His Cap-and-Trade Program (January 2008)
For more information, please visit: http://www.heritage.org/News/Cap-and-Trade-Global-Warming-Bill.cfm
The High Cost of Cap and Trade: Why the EPA and CBO Are Wrong
by heritage.org
Fact Sheet #34
The EPA Is Wrong
False Assumptions: Proponents of cap and trade point to the low cost estimates by the EPA and CBO as a reason to pass Waxman-Markey. The EPA underestimates that the bill would cost households an additional $140 a year.
Based on Consumption: The EPA's numbers are based on consumption changes, which are typically less than income changes, as families respond to income losses by saving less.
Uses Discounting: Discounting is a reasonable approach for comparing costs and benefits that occur at widely different times. However, costs of climate change rarely use a discounted rate this high. Without discounting, the impact per household is $1,288 in 2050. Adjusting household size to reflect a family of four raises this cost to over $1,900.
Assumes Rebates: The EPA assumes all the allowance proceeds will be rebated directly to consumers. This clearly isn't the case, since most of the allowances have been promised to industry.
No New Taxes?The loss that the EPA calculates doesn't include the cost of the energy tax to consumers, since the EPA assumes that all of the money is rebated. The cost of the energy tax is actually $4,600 per family of four in 2035.
The CBO Is Wrong
False Assumptions: CBO underestimates that the bill would cost households $175 in 2020. They assume that the carbon tax isn't a tax if the government spends the money. When have Americans ever seen all of a tax returned to them? It's like suggesting your tax rebate will be as large as the amount taken from your paycheck every year.
Numbers Don't Add Up: The CBO's allowance cost numbers don't add up. They say the allowance price will be $28. Since there are 5.056 billion tons of CO2 equivalent in the cap that year, that implies a $141 billion gross cost. They list $91.4 billion.
Hard to Believe: In the CBO's June 5 analysis, they projected allowance revenues of $119.7 billion, $129.7 billion, $136 billion, $145.6 billion and $152.9 billion for the years 2015-2019. It's hard to believe that the next number in that series would be $91.4 billion.
Ignores Economic Damage: The CBO doesn't include the decrease in GDP as a result of the bill. The GDP hit in 2020 would be $161 billion (in 2009 dollars) according to our analysis. For a family of four, that is $1,870 that they ignore.
Cap and Trade Is Wrong
It's a Massive Energy Tax
It Will Not Make a Substantive Impact on the Environment
It Will Kill Jobs
It Will Cause Electricity Bills and Gas Prices to Sharply Increase
It Will Outsource Manufacturing Jobs and Hurt Free Trade
It Will Make You Choose among Energy, Groceries, Clothing and Haircuts
It Will Be Highly Susceptible to Fraud and Corruption
It Will Hurt Senior Citizens, the Poor, and the Unemployed the Worst
It Will Cost American Families Nearly $3,000 a Year
President Obama Admitted "Electricity Rates Would Necessarily Skyrocket" Under His Cap-and-Trade Program (January 2008)
For more information, please visit: http://www.heritage.org/News/Cap-and-Trade-Global-Warming-Bill.cfm
Sunday, June 28, 2009
Top 10 Facts on Why Speaker Pelosi's National Energy Tax Is a Bad "Deal" for America
"Deal" Is a Win for Liberal Special Interests, a Loss for Workers, Small Businesses, and Rural America
Washington, Jun 24 - Democratic leaders have announced a so-called “deal” to bring House Speaker Nancy Pelosi’s (D-CA) national energy tax up for a House vote on Friday. Senior Democrats have already started to tout a number of trivial concessions and compromises that made this “deal” possible. But, the fact is, the consequences of this “deal” are no different from the consequences of the initial legislation introduced by Democrats earlier this year. It still amounts to jobs-killing policy that will increase costs for every American and will further harm our economy and American workers at a time when they can afford it least. Following are the Top 10 Facts about the House Democrats’ so-called “deal” to bring Speaker Pelosi’s national energy tax to the House floor later this week:
1. Speaker Pelosi’s National Energy Tax Will Impose a National Energy Tax on Every Single American. If you drive a car, buy food or a product manufactured in America, or have the audacity to flip on a light switch, you’ll pay more under Speaker Pelosi’s national energy tax. Here’s what Rep. John Dingell (D-MI) had to say about the tax: “Nobody in this country realizes that cap and trade is a tax. And it’s a great big one.” And of course, President Obama agrees, saying that electricity rates will “skyrocket” under this scheme.
2. Speaker Pelosi’s National Energy Tax Will Cost American Jobs, Shipping Them Overseas to China & India. According to a study by the National Black Chamber of Commerce, Speaker Pelosi’s national energy tax will cost 2.3 to 2.7 million jobs each year, even after the creation of new “green” jobs. It will impose tough new requirements and increased costs on American manufacturers – higher costs that they won’t face overseas, in places like China, India, or Mexico. This will cost American jobs in two ways: either domestic manufacturers will move overseas directly, or American companies in energy-intensive industries will be driven out of business by overseas rivals that undercut their prices. These job losses, and their ripple effects throughout our economy, were excluded from an incomplete analysis recently completed by the Congressional Budget Office. The Brookings Institute recently released a report that confirmed a national energy tax would reduce economic growth, increase costs, and kill jobs.
3. Speaker Pelosi’s National Energy Tax Will Cause Electricity Bills to “Skyrocket.” Speaker Pelosi’s national energy tax will increase electricity bills for every American and small business. President Obama even admitted that it would cause electricity rates to “necessarily skyrocket.” And Duke Energy, a major utility company that would receive free allowances under the Democrats’ plan, has already requested a rate hike of 13.5 percent in anticipation of the energy tax.
4. Speaker Pelosi’s National Energy Tax Will Hurt Family Farmers & Rural America. Rural Americans would be disproportionately impacted by this burdensome, jobs-killing tax. They travel 25 percent farther than urban residents to go to work and run errands. They spend 58 percent more on fuel than urban residents as a percentage of their income. And electricity is far more costly to deliver to rural households than to urban homes across America. The end result: if Speaker Pelosi’s national energy tax becomes law, family farmers and rural small businesses will pay much, much more. That’s why an increasing number of rural organizations are opposing this harmful policy.
5. Speaker Pelosi’s National Energy Tax Will Not Improve the Environment. Even supporters of the national energy tax concede that unilateral American action will do nothing to improve Earth’s environment unless global competitors like China and India curb their emissions, too. The response from overseas? Don’t hold your breath. According to the Washington Post, “But, after their talk this week, a Chinese foreign ministry spokesman said China would not agree to reduce its emissions… Spokesman Qin Gang said…“[I]t is natural for China to have some increase in its emissions, so it is not possible for China in that context to accept a binding or compulsory target.’” And according to Xinhua News, Shyam Saran, India’s principal negotiator on climate change, discussed India’s reluctance to capping its greenhouse gas emissions, saying, “[W]e don’t want to announce targets which we have no intention of achieving.”
6. Speaker Pelosi’s National Energy Tax Will Cause Gasoline and Diesel Prices to Spike Further. Gasoline prices have spiked in recent weeks, yet Speaker Pelosi’s national energy tax will make gasoline and diesel even more expensive for families and small businesses. The Heritage Foundation estimates that it will raise inflation-adjusted gasoline prices by 58 percent. Not only is that troubling to middle-class families trying to make ends meet, but small businesses – such as America’s truck drivers who are responsible for transporting food and other products across the country – are especially vulnerable during an economic recession. In fact, Tommy Hodges, First Vice Chairman of the American Trucking Association, recently warned that Speaker Pelosi’s national energy tax on America’s truck drivers will leave America’s truck drivers, exposed to dramatic and sudden fuel price spikes.
7. Speaker Pelosi’s National Energy Tax Will Be A Bureaucratic Nightmare. Speaker Pelosi’s national energy tax is a bureaucratic nightmare that would create a slew of new government programs overseen by a long and confusing web of government agencies. At the center of this web is the Environmental Protection Agency along with the Federal Energy Regulatory Commission, the Commodities Future Trading Commission, the Department of Energy, the Department of Agriculture, the National Oceanic Atmospheric Administration, the Department of Labor, the Internal Revenue Service, the Department of Health and Human Services, the Army Corps of Engineers, the Department of Treasury, the Department of State, the Forest Service, the Fish & Wildlife Service, the National Park Service, the Bureau of Indian Affairs, the U.S. Geological Society, the Bureau of Reclamation, and the Bureau of Land Management – all with a hand in taking and redistributing trillions of dollars from family budgets and workers payrolls.
8. Speaker Pelosi’s National Energy Tax Will Send Billions of US Taxpayer Dollars Overseas. In addition to sending American jobs overseas, under Speaker Pelosi’s national energy tax, between 2012 and 2019, the United States will send $302 billion in taxpayers’ money directly to foreign countries for international offsets, international tropical deforestation, international adaptation, and international technology transfer. American taxpayers are tired of the bailouts. Why do Washington Democrats want to force them to bankroll another global bailout too?
9. Speaker Pelosi’s National Energy Tax Will Raise Food Prices. Speaker Pelosi’s national energy tax will drive up costs for gasoline and energy used by farmers and businesses across the country. One of the most troubling results? The cost to produce and transport food will be driven higher than ever. The Heritage Foundation says “The cost of producing everything from wheat to beef will increase. Indeed, the price deflator for private farm inventories goes up over 20 points by 2035. This increase gets quickly translated into much higher food prices for consumers at the grocery stores.” During a severe recession and further job losses, is this really the news small businesses and middle-class families want to hear?
10. Speaker Pelosi’s National Energy Tax Will Set the Stage for Another Market Meltdown. Mother Jones recently warned that if Speaker Pelosi’s national energy tax “is signed into law, it will generate, almost as an afterthought, a new market for carbon derivatives. That market will be vast, complicated, and dauntingly difficult to monitor. And if Washington doesn’t get the rules right, it will be vulnerable to speculation and manipulation by the very same players who brought us the financial meltdown.” Taxpayers have paid dearly as a result of the financial crisis. Are Democrats setting them up to pay once again?
http://republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=133823
"Deal" Is a Win for Liberal Special Interests, a Loss for Workers, Small Businesses, and Rural America
Washington, Jun 24 - Democratic leaders have announced a so-called “deal” to bring House Speaker Nancy Pelosi’s (D-CA) national energy tax up for a House vote on Friday. Senior Democrats have already started to tout a number of trivial concessions and compromises that made this “deal” possible. But, the fact is, the consequences of this “deal” are no different from the consequences of the initial legislation introduced by Democrats earlier this year. It still amounts to jobs-killing policy that will increase costs for every American and will further harm our economy and American workers at a time when they can afford it least. Following are the Top 10 Facts about the House Democrats’ so-called “deal” to bring Speaker Pelosi’s national energy tax to the House floor later this week:
1. Speaker Pelosi’s National Energy Tax Will Impose a National Energy Tax on Every Single American. If you drive a car, buy food or a product manufactured in America, or have the audacity to flip on a light switch, you’ll pay more under Speaker Pelosi’s national energy tax. Here’s what Rep. John Dingell (D-MI) had to say about the tax: “Nobody in this country realizes that cap and trade is a tax. And it’s a great big one.” And of course, President Obama agrees, saying that electricity rates will “skyrocket” under this scheme.
2. Speaker Pelosi’s National Energy Tax Will Cost American Jobs, Shipping Them Overseas to China & India. According to a study by the National Black Chamber of Commerce, Speaker Pelosi’s national energy tax will cost 2.3 to 2.7 million jobs each year, even after the creation of new “green” jobs. It will impose tough new requirements and increased costs on American manufacturers – higher costs that they won’t face overseas, in places like China, India, or Mexico. This will cost American jobs in two ways: either domestic manufacturers will move overseas directly, or American companies in energy-intensive industries will be driven out of business by overseas rivals that undercut their prices. These job losses, and their ripple effects throughout our economy, were excluded from an incomplete analysis recently completed by the Congressional Budget Office. The Brookings Institute recently released a report that confirmed a national energy tax would reduce economic growth, increase costs, and kill jobs.
3. Speaker Pelosi’s National Energy Tax Will Cause Electricity Bills to “Skyrocket.” Speaker Pelosi’s national energy tax will increase electricity bills for every American and small business. President Obama even admitted that it would cause electricity rates to “necessarily skyrocket.” And Duke Energy, a major utility company that would receive free allowances under the Democrats’ plan, has already requested a rate hike of 13.5 percent in anticipation of the energy tax.
4. Speaker Pelosi’s National Energy Tax Will Hurt Family Farmers & Rural America. Rural Americans would be disproportionately impacted by this burdensome, jobs-killing tax. They travel 25 percent farther than urban residents to go to work and run errands. They spend 58 percent more on fuel than urban residents as a percentage of their income. And electricity is far more costly to deliver to rural households than to urban homes across America. The end result: if Speaker Pelosi’s national energy tax becomes law, family farmers and rural small businesses will pay much, much more. That’s why an increasing number of rural organizations are opposing this harmful policy.
5. Speaker Pelosi’s National Energy Tax Will Not Improve the Environment. Even supporters of the national energy tax concede that unilateral American action will do nothing to improve Earth’s environment unless global competitors like China and India curb their emissions, too. The response from overseas? Don’t hold your breath. According to the Washington Post, “But, after their talk this week, a Chinese foreign ministry spokesman said China would not agree to reduce its emissions… Spokesman Qin Gang said…“[I]t is natural for China to have some increase in its emissions, so it is not possible for China in that context to accept a binding or compulsory target.’” And according to Xinhua News, Shyam Saran, India’s principal negotiator on climate change, discussed India’s reluctance to capping its greenhouse gas emissions, saying, “[W]e don’t want to announce targets which we have no intention of achieving.”
6. Speaker Pelosi’s National Energy Tax Will Cause Gasoline and Diesel Prices to Spike Further. Gasoline prices have spiked in recent weeks, yet Speaker Pelosi’s national energy tax will make gasoline and diesel even more expensive for families and small businesses. The Heritage Foundation estimates that it will raise inflation-adjusted gasoline prices by 58 percent. Not only is that troubling to middle-class families trying to make ends meet, but small businesses – such as America’s truck drivers who are responsible for transporting food and other products across the country – are especially vulnerable during an economic recession. In fact, Tommy Hodges, First Vice Chairman of the American Trucking Association, recently warned that Speaker Pelosi’s national energy tax on America’s truck drivers will leave America’s truck drivers, exposed to dramatic and sudden fuel price spikes.
7. Speaker Pelosi’s National Energy Tax Will Be A Bureaucratic Nightmare. Speaker Pelosi’s national energy tax is a bureaucratic nightmare that would create a slew of new government programs overseen by a long and confusing web of government agencies. At the center of this web is the Environmental Protection Agency along with the Federal Energy Regulatory Commission, the Commodities Future Trading Commission, the Department of Energy, the Department of Agriculture, the National Oceanic Atmospheric Administration, the Department of Labor, the Internal Revenue Service, the Department of Health and Human Services, the Army Corps of Engineers, the Department of Treasury, the Department of State, the Forest Service, the Fish & Wildlife Service, the National Park Service, the Bureau of Indian Affairs, the U.S. Geological Society, the Bureau of Reclamation, and the Bureau of Land Management – all with a hand in taking and redistributing trillions of dollars from family budgets and workers payrolls.
8. Speaker Pelosi’s National Energy Tax Will Send Billions of US Taxpayer Dollars Overseas. In addition to sending American jobs overseas, under Speaker Pelosi’s national energy tax, between 2012 and 2019, the United States will send $302 billion in taxpayers’ money directly to foreign countries for international offsets, international tropical deforestation, international adaptation, and international technology transfer. American taxpayers are tired of the bailouts. Why do Washington Democrats want to force them to bankroll another global bailout too?
9. Speaker Pelosi’s National Energy Tax Will Raise Food Prices. Speaker Pelosi’s national energy tax will drive up costs for gasoline and energy used by farmers and businesses across the country. One of the most troubling results? The cost to produce and transport food will be driven higher than ever. The Heritage Foundation says “The cost of producing everything from wheat to beef will increase. Indeed, the price deflator for private farm inventories goes up over 20 points by 2035. This increase gets quickly translated into much higher food prices for consumers at the grocery stores.” During a severe recession and further job losses, is this really the news small businesses and middle-class families want to hear?
10. Speaker Pelosi’s National Energy Tax Will Set the Stage for Another Market Meltdown. Mother Jones recently warned that if Speaker Pelosi’s national energy tax “is signed into law, it will generate, almost as an afterthought, a new market for carbon derivatives. That market will be vast, complicated, and dauntingly difficult to monitor. And if Washington doesn’t get the rules right, it will be vulnerable to speculation and manipulation by the very same players who brought us the financial meltdown.” Taxpayers have paid dearly as a result of the financial crisis. Are Democrats setting them up to pay once again?
http://republicanleader.house.gov/News/DocumentSingle.aspx?DocumentID=133823
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