Article

2009-10-16 Economy

The head of the Congressional Budget Office on Wednesday countered Obama administration claims that a landmark climate bill would be a boost to the economy.
Keep an eye on this guy; we don't want him to "disappear".
President Barack Obama and Senate Democrats championing the bill have said mandating greenhouse-gas caps, renewable energy and efficiency standards would be a boon to an ailing economy, creating new low-carbon industries. Millions of so-called green jobs would be created under the cap-and-trade legislation being considered in the Senate, Democrats say.
Go GREEN!
CBO Director Douglas Elmendorf warned a Senate energy panel that there would be "significant shifts" from emissions-intense sectors such as oil and refining firms to low-carbon businesses such as wind and solar power.

"The net effect of that we think would likely be some decline in employment during the transition because labor markets don't move that fluidly," Mr. Elmendorf said, testifying before the Senate Energy and Natural Resources Committee.

"The fact that jobs turn up somewhere else for some people does not mean there aren't substantial costs borne by people, communities, firms and affected industries," he said.

Posted by Bobby 2009-10-16 06:38|| || Front Page|| [11130 views ] Top

#1 In other words - in the classic liberal mold - we will destroy several productive industries and simply hope that new ones will arrive to take their place. Because jobs and businesses just create themselves.

Posted by gromky 2009-10-16 12:54|| 2009-10-16 12:54|| Front Page Top

#2 The Socia1ist economy at work: Disaster: Hard Stimulus Data Reveals That Michigan "Saved Or Created" Only 397 Jobs For 620 Million Stimulus Dollars, FAR Short Of 19,500 Claim
Let's just do the math. $620 million divided by say 400 jobs = $1,550,000 per job!

Via Instapundit.

Posted by ed 2009-10-16 13:05|| 2009-10-16 13:05|| Front Page Top

#3 I certainly won't argue that cost/per job is anywhere near reasonable, ed.

Posted by trailing wife">trailing wife 2009-10-16 14:18|| 2009-10-16 14:18|| Front Page Top

#4 The CBO may be the last objective and reasonably honest governmental agency left. And I'm not so sure about them. Most of the rest issue a pack of lies to fit an agenda.

Posted by JohnQC 2009-10-16 14:38|| 2009-10-16 14:38|| Front Page Top

#5 mandating greenhouse-gas caps, renewable energy and efficiency standards would be ~~the coup de grace~~ a boon to an ailing economy An idea from those who are clueless about producing real value in an economy.

Posted by Anguper Hupomosing9418 2009-10-16 15:11|| 2009-10-16 15:11|| Front Page Top

09:43 Mullah Richard
09:27 Warthog
09:11 Mercutio
09:07 AlmostAnonymous5839
08:52 Matt
08:24 Matt
08:20 SteveS
07:43 Procopius2k
07:42 BrerRabbit
07:42 Procopius2k
07:39 Procopius2k
07:36 Procopius2k
07:35 Procopius2k
07:34 trailing wife
07:31 Procopius2k
07:30 NN2N1
07:22 NN2N1
07:18 trailing wife
07:14 Richard Aubrey
07:10 NN2N1
07:09 Besoeker
07:03 NN2N1
06:58 NN2N1
06:58 Besoeker