President Obama's cap-and-trade plan could deliver several blows to the U.S. economy, according to a Treasury Department memo that one observer described as "damning."
The country could lose 1 percent of its gross domestic product, face accelerated outsourcing of manufacturing jobs, and experience energy rationing if cap and trade became law, according to the memo, which the Competitive Enterprise Institute obtained under the Freedom of Information Act.
“The memo was damning particularly . . . by pointing out what opponents of cap and trade have long said is the point of cap and trade, and has been proven by Europe’s experience,” said Christopher Horner, a senior fellow at the institute. "You will chase off energy intensive industries ? meaning manufacturing jobs. The memo singles out steel, cement, chemical . . . glass, plastic, and ceramics ? the same ones that have been clobbered in Europe by this.
And that's what the Obamacrats want.
It's also what the Liberal Party of Canada wants.
Obviously we must say NO! to this sort of thing.
