… will cost
$300 BILLION ANNUALLY
Treasury Dept Releases Un-redacted Documents Friday AfternoonWashington, D.C., September 18, 2009―Global warming cap and trade costs could hit $300 billion annually, the Treasury Department admitted in documents released today – late in the afternoon and on the day of the Jewish New Year celebration. The same documents had been released by Treasury earlier this week but had important parts redacted. Now, the document is available in its entirety for public scrutiny.
The new information reveals that Treasury estimates that not only could cap and trade cost $300 billion annually, “domestic policies to address climate change and the related issues of energy security and affordability will involve significant costs and potential revenues, possibly up to several percentage points of annual GDP (i.e. equal in size to the corporate income tax).”
The documents were obtained by CEI Senior Fellow Christopher Horner through a Freedom of Information Act request and revealed in a Friday afternoon release after public attention to an earlier version raised questions of what the administration was hiding.
Hiding? OHNOES, not the most transparent administration EVAH!!!!
(h/t Jeff Goldstein via email)
Comment by Obstreperous Infidel on 9/18 @ 7:54 pm #
Quelle surprise! BTW, who’s that Goldstein guy who hat tipped you? Sounds familiar.
Comment by Joe on 9/18 @ 7:54 pm #
Can we sing Ding Dong Cap & Trade is Dead? Or will these stupid bastards keep pushing it?
Comment by JD on 9/18 @ 8:17 pm #
They will keep pushing it, and will keep lying about its costs. Just watch and see if the media even covers this. Remember, this is going to create millions of high-paying green jobs coughcoughbullshitcough.
Good catch, Jeff G !
Comment by B Moe on 9/18 @ 8:19 pm #
Don’t worry, they have a new plan to save some money.
What could go wrong?
Comment by sdferr on 9/18 @ 8:23 pm #
Cost.
Costs $300 B.
Costs almost sounds like something that is being bought, x pays $300B for y. But this is a tax.
Are the jobs that walk away due to higher energy prices going to be counted in the cost? When the workers who held those jobs scream bloody murder and their congress critters make “adjustments” to the “uniformity” of the tax in the affected industries, are the market distortions that will result going to be counted a cost? Will the lobbying expenditures resulting from the rent seeking behaviors generated be accounted as a cost? This accounting business itself could become quite expensive.
Comment by JD on 9/18 @ 8:23 pm #
BMoe – Why do their “new” plans always seem to involve nationalizing some industry, or sector thereof?
Comment by happyfeet on 9/18 @ 8:25 pm #
I wonder if those UAW homos what make those pansy gay-assed I’m not gay I’m driving a Camaro cars for people what are in denial of how deeply deeply gay they are will have to buy carbon credits to keep making them?
Comment by JD on 9/18 @ 8:27 pm #
sdferr – I always apply the Factor of 3 to government predictions. If they say it is going to cost $300,000,000,000, I assume it will cost $900,000,000,000. If they say they can “save” $300,000,000,000, I assume the actual savings will be closer to $100,000,000,000. That used to be a pretty reliable indicator, but Teh One appears to use a Factor of Who the Fuck Cares ?
Comment by JD on 9/18 @ 8:27 pm #
Camaro’s are for people what like mullets.
Comment by happyfeet on 9/18 @ 8:28 pm #
greasy gay mullets with week-old Dep all up in them
Comment by B Moe on 9/18 @ 8:32 pm #
Here.
Comment by sdferr on 9/18 @ 8:34 pm #
Wonder if the Treasury will be doing an opportunity cost analysis, projecting what the economy would have grown in the absence of this monstrosity so folks have some better sense of what they’re nation is missing out on in trade for the pleasure of patting itself on the back?
Comment by sdferr on 9/18 @ 8:35 pm #
Yeesh, their for “they’re”.
Comment by happyfeet on 9/18 @ 8:36 pm #
he looks like he’s probably got a killer camaro what he can cruise Sonic in but if you go with him don’t order you no chili cheese fries cause he’ll freak out if you eat them in the car cause of it’s
his babyhis shield against highly plausible accusations of homosexual tendenciesComment by JD on 9/18 @ 8:36 pm #
sdferr – Once they have your money and control of your lifestyle, I really don’t think they give a shit. They are creepy.
Comment by geoffb on 9/18 @ 8:36 pm #
Obama will not raise your taxes, right, just your cost of living. 300 billion is $1,000 for each person. Hello family of 4, that’s $4,000 extra you have to come up with. And if JD is correct, quite possible, figure $12,000. Got an extra 12 grand just sitting around, waiting to be used for a snake-oil salesman’s scam? Everybody does.
Comment by JD on 9/18 @ 8:39 pm #
geoffb – if? IF?! Surely, you jest.
Comment by JD on 9/18 @ 8:42 pm #
They were only off by a factor of almost 10 when forecasting Medicare costs.
Comment by JeffS on 9/18 @ 8:51 pm #
#8, JD:
sdferr – I always apply the Factor of 3 to government predictions.
You are being unduly conservative. I work for the government, so I have far too much experience on this topic.
Comment by Pablo on 9/18 @ 8:51 pm #
It’s really simple. What little production we have left will move overseas. If it passes.
But there’s good news too. It won’t. ObamaCare care ain’t looking so hot either.
Comment by JeffS on 9/18 @ 8:52 pm #
BTW, as this is effectively a tax (even if it comes out as the “cost of living”), can I deduct the tips to waiters and waitresses? Something tells me they’re really gonna need it.
Comment by JeffS on 9/18 @ 8:54 pm #
And a PS for the BTW: If the “cost of living” gets too high, will our lords and masters offer a tax deduction for the cost of dying?
Comment by JD on 9/18 @ 8:54 pm #
JeffS – Sadly, I would be pleased by them only being off by a factor of 3.
Comment by sdferr on 9/18 @ 8:57 pm #
“It won’t.”
This, this is key.
It mustn’t. Ever.
Comment by Bob Reed on 9/18 @ 9:02 pm #
I’m getting a little tired of these Surprise! Friday afternoon
Transparencydata dumps; especially coming from the most transparent administration, EVAH!I guarantee the effect on the economy of the jobs lost is not even remotely factored into this figure. That 300 billon is the new taxes and fees associated with Cap-n-Tax. I guarantee the economic effect will be another 200 to 500 billion, initially; and after industry figures out how to not only pass the 300 billion/yr on to us suckers, as well as close whatever facilities that are necessary to minimize their costs and maximize their profits, that number will only grow…
This is yet another example of the bold faced lying from what is also the most Ethical! administration-EVAH! But, you know, we’re all racists for even taking offense at this connivance, and I suppose that makes Christopher Horner some kind of Grand Wizard, Grand Kleagle, or Grand Puba or something; for having the stones to ask the administration to open their books, so that the public could see what is really going to happen to their money…
Comment by Bob Reed on 9/18 @ 9:03 pm #
I wonder why Jeff didn’t put this up himself?
Comment by JeffS on 9/18 @ 9:10 pm #
Sadly, I would be pleased by them only being off by a factor of 3.
Yeah, so would I. So would I…….
Comment by geoffb on 9/18 @ 9:11 pm #
Sorry JD. I figured 12 grand was enough to get anyone to sit up and pay attention. What with the way things workout in Gov. projections and the coming inflation due to the Fed it could get into some numbers that would make Billy Gates flinch.
Comment by JD on 9/18 @ 9:33 pm #
geoffb – I have said since the “stimulus” debate that part of its goal was to numb everyone to numbers like $1,000,000,000,000. Now, something like $300,000,000,000 does not seem all that terrible, in comparison.
Pingback by Daily Pundit » Transparent Liars, That Is on 9/18 @ 9:36 pm #
[...] Obama Admin Friday Night Info Dump: US Treasury admits Cap-n-Trade will cost $300 BILLION ANNUALLY [... The documents were obtained by CEI Senior Fellow Christopher Horner through a Freedom of Information Act request and revealed in a Friday afternoon release after public attention to an earlier version raised questions of what the administration was hiding. [...]
Comment by Scrapiron on 9/18 @ 9:43 pm #
Why worry, it’s only cost $1700 + for every family in America. Deduct the 50% who pay no taxes and your share will only be around $3500 per year on top of the taxes you pay already. Health/rapid death care will only take 15-20% of your total income from you. You’ll have a couple of dollars per month to feed your family. The shut off of water to a farm area in Ca proves the democrats will starve you to death and claim you died of ignorance. That will probably be true if you die and leave one of them P’sOS alive. But the little two inch worthless minnow will survive.
Comment by JD on 9/18 @ 9:52 pm #
What Baracky and the envirowhackjobs are doing to those poor farmers in CA is worse than what they are doing to Honduras, no small feat.
Comment by geoffb on 9/18 @ 10:44 pm #
Oh, they’re all just kulaks don’t you know.
Comment by Jeff Y. on 9/18 @ 10:49 pm #
$300 bil.
Unfuckingbelievable.
Comment by JD on 9/18 @ 10:51 pm #
$300,000,000,000 is all they are willing to admit to. That number was not pulled out of the air, that was just the lowest number they thought they could get away with.
Comment by Adriane on 9/18 @ 10:58 pm #
Well instead of trading caps, why not just go to the store and buy a new one? I’m partial to fedoras myself.
Comment by JD on 9/18 @ 10:59 pm #
$300,000,000,000 will buy a lot of fedoras.
Comment by DarthRove on 9/18 @ 11:13 pm #
P’raps Jimmah II will use that $300,000,000,000 to buy every American a brand new sweater.
Comment by JD on 9/18 @ 11:30 pm #
$300,000,000,000 could fund an expedition to find the ever-elusive swamp rabbit monster.
Comment by geoffb on 9/19 @ 12:02 am #
Would $300,000,000,000 cover shipping all the progressives to say Tibet, and the regular liberals to the EU, so we could get on with being the most productive place on Earth and be able to subsidize all their asses?
Comment by ghost707 on 9/19 @ 1:34 am #
Iowahawk delivers another delicious helping of dripping satire – this time turning the tables on the MSM – bludgeoning them with a running chainsaw of their own failings.
Iowahawk
Comment by SDN on 9/19 @ 5:32 am #
Are we there yet?
Comment by royf on 9/19 @ 5:48 am #
Well if you take into consideration how guns and ammunition have been selling and combine that with what was already in the hands of America Patriots we must be getting close.
One thing I don’t think will happen is the wanna be tyrants of this Administration will understand there is a limit to how far free people will be pushed. I hope they do but they are completely brainwashed in failed 20th century marxist ideology.
Comment by Bob Reed on 9/19 @ 9:50 am #
Darleen,
Do you have a link for this story? I didn’t see one at the top of the post…
Comment by sdferr on 9/19 @ 9:51 am #
Bob, it’s the big headline.
Comment by matt on 9/19 @ 10:12 am #
The stunning incompetence of this administration becomes more evident every day. By all accounts, the leadership is going to try and push through the health care bill, although Cap & Trade seems to be dead for now. Thank God for that.
My greater concern is that our foreign policy is running off the tracks at 100 mph. We now have the President and CIA at war. LUN.
Comment by Snowcone on 9/19 @ 11:39 am #
could hit $300 billion annually
will cost $300 BILLION ANNUALLY
Why the unnecessary hyperbole, Darleen?
Comment by Bob Reed on 9/19 @ 11:40 am #
Thanks sdferr, the lack of orange color threw me off!
Comment by Danger on 9/19 @ 11:46 am #
Snowcone,
Have you ever heard of a gov’t project that comes under budget?
Comment by JD on 9/19 @ 11:50 am #
Snotnose’s mendacity continues apace.
Comment by Mikey NTH on 9/19 @ 12:20 pm #
And that #300 billion will show up on monthly utility bills.
Hello, rate cases!
Comment by Danger on 9/19 @ 12:39 pm #
Snowblower seems very slow to reload tonight, must be running short of straw.
Comment by Snowcone on 9/19 @ 1:10 pm #
Snotnose’s mendacity continues apace.
Just curious why Darleen felt the need to make her post more sensational at the cost of making it less truthful, JD.
Comment by SBP on 9/19 @ 1:10 pm #
IRS files $548,000 tax lien against ACORN
NO STORY HERE! BUNNIES! BOOOOOOOOOOOOOSH!
Comment by Danger on 9/19 @ 1:25 pm #
Just curious if your sticking to the ACORN one-day story, story Snowstorm
Comment by Snowcone on 9/19 @ 1:32 pm #
Just curious if your sticking to the ACORN one-day story, story Snowstorm
Yep, haven’t seen any blog posts or news reports about it today.
Pingback by IRS files tax lien against criminal enterprise ACORN [Darleen Click] on 9/19 @ 1:49 pm #
[...] SBP) Posted by Darleen @ 1:49 pm | Trackback SHARETHIS.addEntry({ title: “IRS files tax lien against [...]
Comment by pdbuttons on 9/19 @ 1:57 pm #
friday is now gomer pyle day
“Surprise…Surprise!’
Comment by SBP on 9/19 @ 3:50 pm #
Yep, haven’t seen any blog posts or news reports about it today.
Liar.
Comment by Rusty on 9/19 @ 5:05 pm #
#47
If you had a job and a family you’d understand.
Comment by Snowcone on 9/19 @ 5:33 pm #
If you had a job and a family you’d understand.
Haha, standard nonsensical right-wing answer.
Comment by newrouter on 9/19 @ 5:37 pm #
“Yep, haven’t seen any blog posts or news reports about it today.”
“Saturday, September 19, 2009
Hmm. Obama “HOPE” Artist’s Studio Vandalized With Anti-ACORN Graffiti ”
http://gatewaypundit.blogspot.com/2009/09/hmm-obama-hope-posters-studio.html
Comment by Rusty on 9/19 @ 8:14 pm #
Must have hit a nerve.
You never answered my question; Where does stuff come from?
Comment by Jeffersonian on 9/19 @ 8:23 pm #
Yeah, it’s probably not going to cost a dime over $299 billion. Take THAT, wingnuts!
Comment by Rusty on 9/20 @ 6:10 am #
tickity, tockity
Comment by MarkD on 9/21 @ 8:19 am #
A cynic would believe they are trying to cause massive unemployment, unrest, and dare I postulate, rebellion. In six months they’ve managed to double unemployment and the deficit, and the plan is to double down?
Pingback by History of the Barack Obama Official Friday Afternoon News Dump - barrypopik’s Diary - RedState on 11/14 @ 5:38 am #
[...] When was it announced that the cap-and-trade bill could cost at least $300 billion annually? September BOOFAND! [...]