Then there’s “Cap & Trade,” a massive new energy tax passed earlier this year by the U.S. House. Disguised as an “emissions marketplace,” this backdoor tax hike does nothing but exploit demonstrably fuzzy science in an effort to deprive American families of as much as $4,000 a year in increased energy costs.
With so much oxygen being sucked out of the American economy (and more deprivation on the way from Washington), it’s amazing that anyone has a job. Anyone not on Uncle Sam’s payroll, at least.
Still, in spite of the unambiguous failure of these interventionist policies, Obama and his allies are now proposing yet another “stimulus” – this one to be funded essentially by loan repayments from the TARP bailout that are legislatively-mandated to go toward deficit reduction.
Where does Obama want to put this money instead?
“State and local government — first,”2 says former Treasury Secretary Robert Reich, a participant in one of Obama’s recent economic development-themed photo opportunities.
In other words, Obama’s plan is to continue pouring taxpayer money into the same old unsustainable bureaucracies.
“What needs to be said is that there is no reason that we as a nation have to accept 10 percent unemployment or 18 percent underemployment,” Reich says. “We have the ability to bring that number down.”
On this point, Reich is absolutely right.
We don’t have to accept it – and we certainly can bring that number down.
Of course, doing so would require a complete reversal – not a continuation – of our government’s failed interventionist policies.