John McCain Threatens Economy with Global Warming Plan

Wednesday, May 28, 2008, 18:59
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Photo courtesy hibino and licensed by Creative Commons.

Pseudo-conservative and presumptive Republican Presidential nominee John McCain’s global warming has taken the air out of the sails of many conservatives in the United States. McCain’s plan is to reduce carbon emissions to 50% from 1990 levels by 2050 and, while this is an easier target than the Lieberman-Warner bill (70%) or the Clinton/Obama plan (80%), the economic impact of ANY plan will be devastating. While McCain’s proposed cap-and-trade system to achieve this lofty goal is shaky at best, it also serves as a new energy tax and more revenue for the federal government - to the tune of $1.21 trillion from 2009 through 2018. In addition, the loss of GDP by 2030 is estimated to be between $1.7 and $4.8 trillion, adjusted for inflation. The current U.S. economic output is $14 trillion, to put this in perspective.

About the Author

Skeptic has written 1650 stories on this site.

A social and fiscal conservative, I scour the news for information that disputes the current man-made global warming indoctrination that takes place around the world. I take a rather sarcastic approach to reporting on the nonsense being spewed by the talking heads in the media and the governments around the world.