Obama admin: Cap-and-trade will cost families $1761 per year

posted at 2:20 pm on September 16, 2009 by Ed Morrissey

Supporters of the administration’s plans for cap-and-trade have argued that the costs would be minimal for American households, as low as $175 per household per year, as the White House proclaimed an incomplete analysis from the CBO.  A new study shows that the actual costs per household are ten times that number, almost $150 per month, once cap-and-trade gets implemented.  What right-wing organization created that analysis?

The Treasury Department:

The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.

A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration’s estimate, the cost per American household would be an extra $1,761 a year.

A second memorandum, which was prepared for Obama’s transition team after the November election, says this about climate change policies: “Economic costs will likely be on the order of 1 percent of GDP, making them equal in scale to all existing environmental regulation.”

The documents (PDF) were obtained under the Freedom of Information Act by the free-market Competitive Enterprise Institute and released on Tuesday.

The Obama administration used arguments that they knew weren’t accurate in order to push this legislation through the House.  Obama himself made these arguments, while analysts in the government had already shown them to be false.  In other words, Obama lied, and so did his administration and allies in Congress.

And they didn’t just lie on the costs to American households for energy-production disincentives.  The total cost to the economy would be 1% of GDP, or about the same amount the economy contracted in the second quarter of this year, extended for the foreseeable future.  That amounts, in 2009, to $120 billion dollars taken right off the top of the American economy, with the loss of jobs and productivity that entails.

This isn’t a plan for growth through a “green economy.”  It’s a recipe for economic disaster, misery, high unemployment, backbreaking taxes, and further government dependency.  It’s actually worse than the Heritage Foundation predicted in its own analysis.  No wonder Obama and his administration has lied about it and kept the analyses hidden.


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And one VA University is counting on stimulus funds to make it through the year. If they don’t get them, they’re screwed.

scalleywag on September 16, 2009 at 2:51 PM

Which one? William and Mary or Virginia Tech?

nyx on September 16, 2009 at 2:55 PM

NYT headlines: Obama Increases GDP to 101%

right2bright on September 16, 2009 at 2:39 PM

Gang, this here is funny. Only because I know I can convince several Obamanites I work with that this will work.

BobMbx on September 16, 2009 at 2:56 PM

Where are the trolls?

angryed on September 16, 2009 at 2:47 PM

The males… getting their manicures, highlights, and waxings.

The females… At the U.S. Open.

TXUS on September 16, 2009 at 2:56 PM

Another 146.75 per month. Yea, I suppose me & the kids could give up eating for the gas & electric bill… ya know… to save the world & all.

bloviator on September 16, 2009 at 2:57 PM

Just how I only believe polls that fit my agenda I only believe government data that fits my agenda…

So this time I totally believe it is correct!

/s

Joe Caps on September 16, 2009 at 2:58 PM

To the first black prez….
I have an African-American dear friend whose husband lost his job when you took over the car companies. He still hasn’t found a job. Their car has been repossessed. They are now being evicted, with their two children and have NOWHERE to go. Go ahead and “cap and tax”, it won’t bother them because they have NO home. I have NEVER been so outraged as I am now! You, and your commie cohorts and union thugs, are just now having the light shined on your corrupt and radical administration. The AMERICAN people, of all COLORS, and BACKGROUNDS, have got your number. NEVER AGAIN AMERICA!

hopefloats on September 16, 2009 at 2:59 PM

Gosh, you mean Bozo lied ? Again? “I’m shocked!”

dogsoldier on September 16, 2009 at 3:00 PM

You can bet it is at least double that.

PappaMac on September 16, 2009 at 3:01 PM

looks like he owes Joe Wilson an apology.

ndanielson on September 16, 2009 at 3:02 PM

They do not even care that they are lying.

Shameful

Elizabetty on September 16, 2009 at 3:03 PM

In the history of irony has there ever been anything more irontasticaly ironical than this!

http://www.weeklystandard.com/weblogs/TWSFP/2009/09/obama_appeasement_of_the_day_n_1.asp

I’m wagering that 99.9999997% of people with “Free Tibet” bumper stickers, or who attend “Free Tibet” concerts, or are name Brad Pitt and Richard Gere voted for Obama assuming he was more sympathetic towards the goal of a free Tibet.

HARDY HAR HAR HAR HAR!

I.M. Shatner on September 16, 2009 at 3:04 PM

hopefloats on September 16, 2009 at 2:59 PM

Have you done the ‘Conservative’ thing and offered assistance?

Or the ‘Liberal’ thing and directed him to the nearest ACORN office?

PappaMac on September 16, 2009 at 3:04 PM

Suppose, just suppose, that the filthy liar took office last January and did nothing but flit around on a perpetual schedule of photo-ops, vacations, and appearances on The View. Would this nation be more or less screwed than it is?

highhopes on September 16, 2009 at 3:05 PM

LOL

over at the huffpost, instead of reporting this, they are telling their readers that they need to stop going to gyms because they use energy (which is destroying the world for the children) and the same things can be done outside without equipment.

HHAHAHAHAHAHAHAHA

Joe Caps on September 16, 2009 at 3:05 PM

highhopes on September 16, 2009 at 3:05 PM

Less. We wouldn’t have had the ‘Crapulous’ boondoggle.

PappaMac on September 16, 2009 at 3:06 PM

looks like he owes Joe Wilson an apology.

ndanielson on September 16, 2009 at 3:02 PM

The “Ws” are way down on the list of people who are owed an apology.

highhopes on September 16, 2009 at 3:08 PM

It’s not out of the question to pay $200 to $400 a month in Texas to either cool or heat year round, and that’s a small house. Electric rates are very high. A relative in Phoenix pays $550 a month to cool his home, and he’s retired on a fixed income. America’s wallets are empty.

Ok guys, here’s the plan. I really don’t want to move to Belize or Costa Rica. We can band together, form a liberation army, invade Kalifornia, overthrow the nutjobs in Sac and chase them over the border. Secede and set up a new gubment. ‘Bambi would talk to us about our attitudes for the next few years but probably cut a sweet deal on a truce. Then we ask for aid and reparations.

24K lady on September 16, 2009 at 3:10 PM

Cap-and-trade will cost families $1761 per year

A lowball figure no doubt. What they really mean to say, “Cap-and-Trade will cost families at least an extra $1,761 per year to start with”. You just gotta know how to translate ObamaSpeak.

Tommy_G on September 16, 2009 at 3:12 PM

“Youth Celebrate 40th Anniversary of Obama Administration Debt and Energy Policies” http://optoons.blogspot.com/2009/08/youth-celebrate-40th-anniversary-of.html

Mervis Winter on September 16, 2009 at 3:19 PM

More for me, I am not buying those stupid curly bulbs.

Cindy Munford on September 16, 2009 at 3:20 PM

they need to stop going to gyms because they use energy (which is destroying the world for the children) and the same things can be done outside without equipment.

Joe Caps on September 16, 2009 at 3:05 PM

It’s called the Third World Total Body Workout. Why have an expensive gym membership when all it takes is 18-hour days pumping water from the community well and beating your clothes on rocks to get them clean.

highhopes on September 16, 2009 at 3:20 PM

You know, for most families, $1761 would make a pretty good start toward the cost of a year’s health insurance. Not that Obama cares about that or anything.

jwolf on September 16, 2009 at 3:20 PM

Boy is this an easy kill. The message could work as follows: “Assuming the threat to the environment is as dire as the Democrats claim it is *cough* is it really worth $150 per month so that the Indians and the Chinese can completely obliterate any good we might be doing by kneecapping our own economy?”

Technology is the solution. We cannot go back in time to a pre-industrial age – only forward.

TheUnrepentantGeek on September 16, 2009 at 3:20 PM

One of our major challenges is not to become bored and calloused about Obama’s lies. His lies are so large, so obvious, and so intentional that we could become desensitized to them. We cannot let that happen: Obama needs to be “called out” loudly, every time.

GaltBlvnAtty on September 16, 2009 at 3:25 PM

over at the huffpost, instead of reporting this, they are telling their readers that they need to stop going to gyms because they use energy (which is destroying the world for the children) and the same things can be done outside without equipment.

HHAHAHAHAHAHAHAHA

Joe Caps on September 16, 2009 at 3:05 PM

But… but… excercising is also BAD for the Environment…

When you excercise, you breath harder, thus putting more of that evil CO2 into the atmosphere!

Save the Earth! Be a Coach Potato!

Romeo13 on September 16, 2009 at 3:26 PM

A new study shows that the actual costs per household are ten times that number, almost $150 per month, once cap-and-trade gets implemented.

You Lied….tsk tsk

BigMike252 on September 16, 2009 at 3:27 PM

I.M. Shatner on September 16, 2009 at 3:04 PM

If I were Taiwan right about now I’d be getting very nervous. If were China, I’d lickin me chops in anticipation devouring the inconvenient display of freedom off my shores.

If Obama is comfortable tossing a cause celebre of his most ardent supporters, the island antithesis/capitalist of their desires is naught but a “to-go” lunch pick up order.

Archimedes on September 16, 2009 at 3:30 PM

We need to pass a Bill that Representatives, Congress People, Vice President, and President should take a Math proficiency exam.

BigMike252 on September 16, 2009 at 3:30 PM

Declining dollar, inflation,…Welcome Back KotterCarter

PatriotRider on September 16, 2009 at 2:29 PM

No.. this guy is worse than Carter ever was.

Wolftech on September 16, 2009 at 3:37 PM

Archimedes on September 16, 2009 at 3:30 PM

Id just settle for copies of all their education records :)

Wolftech on September 16, 2009 at 3:38 PM

This is a lowball estimate. Even more money will go from energy consumers to The One’s friends in the energy industry because of the artifical scarcity created.

edshepp on September 16, 2009 at 3:39 PM

The never will learn to tell the truth… because it would kill ‘em, politically.

About time for this bumper sticker! Feel free to use it. It is Public Domain, and the large format version is there.

BoomJunkie on September 16, 2009 at 3:40 PM

Has Obama abandoned his recent promise to “call out” those who make false representations about his plans?

To comply with this promise, it seems that he must call out Geithner or himself to answer for this Cap & Trade lie.

BobMbx on September 16, 2009 at 3:40 PM

I.M. Shatner on September 16, 2009 at 3:04 PM

Actually, I have a Free Tibet bumper sticker and have donated to the Free Tibet cause and I in no way, shape, or form voted for 0bama. I am a conservative and a Buddhist. I don’t see how a true Buddhist could ever support most of the liberal agenda.

Wolftech on September 16, 2009 at 3:44 PM

Archimedes on September 16, 2009 at 3:30 PM

Good point. I think someone in Taipai just opened a fortune cookie and it said, “Move to Singapore”.

I.M. Shatner on September 16, 2009 at 3:45 PM

We’re also forgetting what this will do to the farmers and ranchers. You know, those uncouth rednecks that raise our food. Along with gut wrenching taxes and power bills we can’t pay, our food bills will go through the roof….but, dangit, we’ll have health care (but no cleaner air since the big guys in China and India will never sign on).

24K lady on September 16, 2009 at 3:45 PM

“They”, even…

http://www.flickr.com/photos/throwbooms/3927015304/

BoomJunkie on September 16, 2009 at 3:46 PM

I click the CBS link. It has been updated with Environmental Defense Fund claims that the analysis ignores “…the redistribution of revenue back to consumers…”

Yeah right. They’re going to take $1,761 from me and then give it back to me (or a favored set of people). Barbara Streisand!

I think Ed debunked that claim in another Cap-n-tax post a few months ago. Wish I could find it.

batter on September 16, 2009 at 3:46 PM

Actually, I have a Free Tibet bumper sticker and have donated to the Free Tibet cause and I in no way, shape, or form voted for 0bama. I am a conservative and a Buddhist. I don’t see how a true Buddhist could ever support most of the liberal agenda.

Wolftech on September 16, 2009 at 3:44 PM

I said 99.9999997%

Hello to you Mr. 0.0000003!%

I.M. Shatner on September 16, 2009 at 3:47 PM

“You lie!”

Yep, it still works…

Khun Joe on September 16, 2009 at 3:51 PM

Anyone opposing cap n trade is a RACIST!!!!!

mobydutch on September 16, 2009 at 3:54 PM

More for me, I am not buying those stupid curly bulbs.

Cindy Munford on September 16, 2009 at 3:20 PM

I hate those effin’ bulbs! Whenever I see the regular light bulbs, I stock up. I may have to rent a storage unit at some point to support my efforts.

silenced majority on September 16, 2009 at 3:55 PM

The only apology coming out of the ONES mouth will be heard on foreign land.

mobydutch on September 16, 2009 at 3:56 PM

“Obama admin: Cap-and-trade will cost families $1761 per year”

Actually it will cost a lot more per capita after Obamacare wipes out those old seniors that tend to vote for the other guys.

Don L on September 16, 2009 at 3:57 PM

Speaking of economics, what is the newest figure on un-employment?

Or
Translation: How many magic gazillion jobs ‘created/saved’?

Sir Napsalot on September 16, 2009 at 4:05 PM

Who will be left to vote for these geniuses?

TXUS on September 16, 2009 at 2:42 PM

Vote???

We don’t need no steenkin’ vote!!!!

VelvetElvis on September 16, 2009 at 4:08 PM

Did Geitner do the math?

barnone on September 16, 2009 at 4:09 PM

In other words, Obama lied, and so did his administration and allies in Congress.

Jimmy Carter and I are horrified by the racial nature of this posting.

tomlw on September 16, 2009 at 4:09 PM

Does that $1,761 per family per year include INDIRECT costs, such as increased power costs for refrigerators and freezers at food stores (passed on to consumers), increased costs for lighting at office buildings (overhead probably passed on to their customers), and increased manufacturing costs in energy-intensive industries?

Steve Z on September 16, 2009 at 4:10 PM

What what my footprint would look like on Obama’s backside?

johnnybgood on September 16, 2009 at 4:10 PM

That was supposed to read:

Wonder what my footprint would look like on Obama’s backside?

johnnybgood on September 16, 2009 at 4:11 PM

Is that all? OK, now I’m sure they’re lying because they’re not factoring the increased cost of EVERY DAMN THING because of this nonsense.

It’s a Communist concept. You can’t bring everybody up, so you bring the highest down a lot and the lowest up a little.

Why should we have so much when there are many in the world who (over, I don’t know, the last couple of hundred years) haven’t figured out how to use energy and technology? Clearly, we’re the culprits.

Jerks.

Dr. ZhivBlago on September 16, 2009 at 4:15 PM

+1 for using the pic of Barry, Sheriff Joe and Granny Botox looking aghast after Joe Wilson called out Barry on his lie.

I’m guessing this will be your standard pic for all posts that point out when the Pres’ent lies.

rockhead on September 16, 2009 at 4:16 PM

Wow! That’s on the CBS website?! Amazing that they are reporting this. But as libs will be libs, they have to have the update at the bottom that assures the reader that this cannot be true, of course brought to you by a liberal ecological group. Fair and balanced reporting!

The funniest part of that article are the responses to it from readers. They start off quite sensibly and morph into typical troll global warming B.S.

Susanboo on September 16, 2009 at 4:18 PM

Sheesh.

So the guy lied to the tune of $1600 per year.

And..?

OK, so it was one more lie.

And…….?

So he’s lied a lot.

And….?

Nevermind.

drjohn on September 16, 2009 at 4:21 PM

Liar in Chief forgot to mention the lost jobs.

marklmail on September 16, 2009 at 4:30 PM

These people are insane. What exactly do they think will happen when people get hit with these hikes?

Terrye on September 16, 2009 at 4:37 PM

Terrye: They don’t think anything will happen.

GaltBlvnAtty on September 16, 2009 at 4:43 PM

+1 for using the pic of Barry, Sheriff Joe and Granny Botox looking aghast after Joe Wilson called out Barry on his lie.

I’m guessing this will be your standard pic for all posts that point out when the Pres’ent lies.

rockhead on September 16, 2009 at 4:16 PM

Yep, they are all looking left! Typical!!

BoomJunkie on September 16, 2009 at 4:46 PM

A new study shows that the actual costs per household are ten times that number, almost $150 per month,

Pragmatic moderates like Mr. Morrisey do not seem to understand what is fundamentally at issue. It’s not about the money, and arguing over the costs is a side issue.

The Federal Govt has no business trying to regulate greenhouse gases. There is no public safety issue, there is no toxicity issue, there is no tort, there is nothing that justifies the Feds even talking about it. Therefore, it is a pure violation of individual rights to attempt to regulate them, and focusing so heavily on how much things cost will cause the Right to lose the argument… as it always does when it focuses chiefly on issues of cost.

I’d be less perturbed, except this behavior is displayed over and over again, whether it’s a discussion of TARP, health care/insurance, or any other. Apparently, the only thing that morally rouses this type of conservative is abortion and national security. There are serious moral issues at stake in every aspect of Federal policy, and have been for the past 100 years or more.

If Mr. Morrisey has ever made a moral case opposing TARP, ObamaCare, and all the rest – on the basis that they violate rights guaranteed by the Constitution – I’ve missed it.

JDPerren on September 16, 2009 at 4:48 PM

Is that 1671.00 for everyone, or just the racists? because I think it’d be MORE fair if the racists paid my share too.

anniekc on September 16, 2009 at 5:18 PM

Cornhusker on September 16, 2009 at 2:53 PM

The EPA will hunt you down for releasing ash & harmful gases into the atmosphere as a result of your burning your trash.
We ranch in ND-we burn our trash,too.
I’m still waiting for the govt to come & regulate all the dust on our gravel roads.
The $hit is really hitting the fan folks.
Time to move to an underground economy. Make our $$ under the table.
I’m truly sick.
Of all of the insanity.

Badger40 on September 16, 2009 at 5:25 PM

have you heard from howard dean that the congress has no will to fight the attorneys over tort reform? lefties also seem to have no will to fight a war, putting restrictions on the troops in battle. who is putting restrictions on our enemies?
they also don’t seem to care about the costs they are placing upon the American people with health care, global idiocy etc. their plans put other countries ahead of ours!
why is it that the minorities listed above are getting all of the respect owed to the constituent voters who put these a-holes in office? is it the excuse used to explain everything? we just aren’t paying them enough, so they have to go where the money is?
i have thought it for years: we have more than enough laws on the books and no one enforcing them, so who needs these clowns in office? close the government down.

mydogwonthunt on September 16, 2009 at 5:26 PM

Does that $1,761 per family per year include INDIRECT costs, such as increased power costs for refrigerators and freezers at food stores (passed on to consumers), increased costs for lighting at office buildings (overhead probably passed on to their customers), and increased manufacturing costs in energy-intensive industries?

Steve Z on September 16, 2009 at 4:10 PM

These are pollutive practices which will be outlawed.
Start buying stock in SALT.
It’ll be the only way they let us preserve our food.
We are going backward.

Badger40 on September 16, 2009 at 5:27 PM

over at the huffpost, instead of reporting this, they are telling their readers that they need to stop going to gyms because they use energy (which is destroying the world for the children) and the same things can be done outside without equipment.

HHAHAHAHAHAHAHAHA

Joe Caps on September 16, 2009 at 3:05 PM

As a general rule I refuse to give that whore a click. But I had to for this one. Yaouza!

angryed on September 16, 2009 at 5:28 PM

The overwhelming number of gross lies this administration has foisted on the American people is staggering! I cannot imagine how obama can show his face day after day to deliver yet more lies; he is indeed intelligent enough to realize that his sham act if failing. The tide is turning and he is revealing himself for what he truly is: a worthless, incompetent, unpresidential liar!!! After this presidential thing folds, perhaps he can get a job with acorn

jgdp on September 16, 2009 at 5:38 PM

batter on September 16, 2009 at 3:46 PM

Answering my own question. Ed included the link in this post to the Heritage memo which debunks the EDF’s assertion. Nice to know I was thinking along the same lines as Heritage:

CBO mistakenly assumes that the government spending and distribution of allowance revenue is the dollar-for-dollar equivalent to a direct cash rebate to energy consumers–that is, that the carbon tax is not a tax if the government spends the money, which is simply preposterous.

Note to self: click all links before asking for answers.

batter on September 16, 2009 at 5:40 PM

All those House members who voted for Crap and Tax JUST GOT PUNKED! Too bad there’s an election next year.

Exit question: Will Democrats in DC be offered a group discount on moving vans next winter?

GarandFan on September 16, 2009 at 6:18 PM

Once again the President’s pants are on fire.

Mason on September 16, 2009 at 8:08 PM

Exit question: Will Democrats in DC be offered a group discount on moving vans next winter?

GarandFan

Since these Democrats are so hot to raise costs on people for using carbon-based energy, maybe we should raise the moving van rates for them by 1000% so they get a feel for what cap-and-trade really feels like.

MeAlice on September 16, 2009 at 9:19 PM

That should be close to the amount of after-taxed $ on the cash for clunkers credit! Still think you got a great deal??

chickasaw42 on September 17, 2009 at 2:14 AM

With the incompetent and criminal record this Congress has for any of their involvement in business dealings, why would any one in their right mind, give them authority to engage in any more enterprise?

Cybergeezer on September 17, 2009 at 10:09 AM

That’s a little more than half what the fine will be for not buying their lousy health care insurance under the latest craptastic bill. The current legistation would fine you $3800.

TrickyDick on September 17, 2009 at 1:47 PM

Re-election in 2010 for the dems is looking bleaker by the day. If Obama is removed before then…..

adamsmith on September 17, 2009 at 2:22 PM

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