With the prospect of a Republican majority in the House, and, possibly, the Senate, President Obama may continue his anti-business, job killing agenda by issuing intrusive, regulatory, executive orders. Americans should be concerned that federal agencies are drafting new regulatory edicts that will continue the Obama economic policy of stifling innovation and job creation, while rewarding union loyalists.
Taxpayers are growing increasingly worried by a government that is expanding too fast, becoming increasingly intrusive, and throttling the American job creation machine. But, Team Obama seems determined to ignore the stinging rebukes emanating from the nation’s voters.
Many Americans thought Henry Waxman’s Cap and Trade nightmare was dead. While Team Obama may no longer be able to push through another 2000+ page piece of job-destroying legislation, the Administration can use Executive Orders to implement many of the specifics of the legislation via changes in the regulatory policies.
Just last week, the Environmental Protection Agency (EPA) issued partial guidance to increase ethanol content in gasoline to 15% , even though ethanol’s supposed benefits have been solidly debunked. Studies by the EPA have shown that ethanol increases carbon emissions, drives up costs of corn and food products, hinders engine efficiency, and does little to make our nation more energy independent.
In short, the EPA’s ethanol policy is a ploy, designed to prop up a failed industry, with yet another multi-billion dollar bailout from taxpayers.
EPA quietly announced this decision that will result in huge increases in subsidies to the ethanol industry while forcing Americans to buy a product that they don’t want. Nor was there any acknowledgement within the Obama Administration that the unintended consequence of a15% mandate on ethanol will almost certainly drive up food costs on everything from beef to cereal, to tortillas.
Higher food prices represent a new tax on all Americans as we are forced to pay more for corn-based food products, so that Obama can continue to subsidize the ethanol industry.