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| Economy |
| CBO Fails to Follow The One - Again |
| 2009-10-16 |
| 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 |
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| Posted by: Anguper Hupomosing9418 2009-10-16 15:11 |
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| Posted by: JohnQC 2009-10-16 14:38 |
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| Posted by: trailing wife 2009-10-16 14:18 |
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| Posted by: ed 2009-10-16 13:05 |
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| Posted by: gromky 2009-10-16 12:54 |