Topic: Decline of the West
This speech on the House floor by Representative Tom McClintock (R., CA) provides an eye-opening preview of what lies in wait for the American economy if the carbon tax passes. An excerpt:
I had a strange sense of deja vu as I watched the self-congratulatory rhetoric on the House floor tonight, and I feel compelled to offer this warning from the Left Coast.
Three years ago, I stood on the floor of the California Senate and watched a similar celebration over a similar bill, Assembly Bill 32. And I have spent the last three years watching as that law has dangerously deepened California's recession. It uses a different mechanism than cap and trade, but the objective is the same: to force a dramatic reduction in carbon dioxide emissions.
Until that bill took effect, California's unemployment numbers tracked very closely with the national unemployment rate. But then, in January of 2007, California's unemployment rate began a steady upward divergence from the national jobless figures. Today, California's unemployment rate is more than two points above the national rate, and at its highest point since 1941.
What is it that happened in January 2007? AB 32 took effect and began shutting down entire segments of California's economy.
Read the full speech. It injects a small but refreshing note of sanity into the increasingly irrational debate over cap and trade.