Today Stinks If You're Barack Obama, John Kerry, Barbara Boxer, Lindsey Graham, Creigh Deeds...

Jillian Bandes | October 15, 2009 10:55 AM

The CBO Gods have issued their ultimatum on ~~the scheme to tax Americans more~~ environmental cap-and-trade legislation. The results aren't pretty.

Cap-and trade...would reduce gross domestic product below what it would otherwise have been—by roughly one-quarter of a percent to three-quarters of a percent in 2020 and by between one percent and three and a half percent in 2050.

Oh, and:

The increases in the price of energy caused by the program would reduce workers’ real wages.

In other words, the Senate Energy and Natural Resources Committee would be directly responsible for decreasing GDP and unemployment in the middle of a recession. That's in direct conflict with President Obama's outlandish claim that cap-and-trade would actually improve the U.S. economy.

I guess there wasn't as much Democratic strong-arming with the CBO's score on cap-and-trade as there was with the Baucus bill.