While President Obama focuses on short-term economic recovery, he proposes long-term energy and global warming policies that will lead to economic decline. Federal subsidies for “green” jobs and mandates for renewable energy will raise energy prices and thereby suck money out of people’s pockets and jobs out of manufacturing.
But President Obama’s green jobs fantasy is only the beginning of the bad news he has in store for American consumers, workers, and taxpayers. He is also urging Congress to enact a cap-and-trade scheme to reduce greenhouse gas emissions. Cap-and-trade is another name for energy rationing. It is a sneaky tax that will benefit some big business special interests by raising people’s electricity, gasoline, and heating bills through the roof. It should not be a surprise that many big corporate CEOs support President Obama’s energy rationing policies. They stand to make huge profits, so why should they care what sharply higher energy prices will do to working American families struggling to pay their bills?