Send Us Hatemail ! mailbag@conservativecave.com
0 Members and 1 Guest are viewing this topic.
Climate bill could cost 2 million jobs Add another climate bill cost estimate to the growing pile. The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) released a study Wednesday that found under a high-cost scenario the House global warming bill could reduce economic growth by 2.4 percent and cost 2 million jobs by 2030.Environmentalists were quick to criticize the study for underselling the development of climate-friendly sources of power and not releasing other assumptions NAM and ACCF fed into the computer model to get their economic forecast, which takes more of a glass-half-empty view than recent governmental reports. But the business groups’ figures will likely provide opponents of capping carbon more ammunition and could add to the angst of senators from industrial states. One key finding is that the climate bill will hurt the manufacturing sector particularly hard. As much as 66 percent of the total job loss from the climate bill could come from manufacturers, the report notes.And though the impact of the bill will grow over time, the economy will start feeling the effects of the carbon cap almost immediately.
Townhall meetings in the iron-belt should be interesting to watch when the cap-n-trade bill starts to move forward. MORE
