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  • Now Paul Krugman is Stealing $11,000 from Every American Household

    In his New York Times column today, Paul Krugman writes: “I cringe when “green economy” enthusiasts insist that protecting the environment would be all gain, no pain.” We feel his pain. But then Krugman goes on to write:

    Consumers would end up poorer than they would have been without a climate-change policy. But how much poorer? Not much, say careful researchers, like those at the Environmental Protection Agency ….

    But the EPA made some revealing assumptions about the relationship between carbon emissions and economic growth in their study. Specifically, to keep the costs of emissions reductions as low as possible, the Obama EPA assumed a GDP growth rate of 2.5% per year. But to keep their deficit projections as low as possible, earlier this month the Obama OMB assumed a 3.3% growth rate.

    University of Colorado professor Roger Pielke crunches the numbers on what the smaller growth rate would mean for the average American:

    Starting with the GDP figures in the President’s Budget and applying the different GDP growth rates leads to a difference in the size of the economy of $1.22 trillion between the President’s Budget projections and the EPA analysis of Waxman-Markey.

    How much is $1.22 trillion? About $11,000 per U.S. household (assuming 115 million households). This number [obviously] gets larger in the out years if GDP growth rates exceed the 2.5% assumed by EPA. Adding in the costs of addition emissions reductions would make this number considerably larger.

    Posted in Energy [slideshow_deploy]

    12 Responses to Now Paul Krugman is Stealing $11,000 from Every American Household

    1. Spiritof76, New Hamp says:

      So, we can be sure that the American economy can not grow, thanks to Socialists in the government.

      But, majority of Americans will think that it is OK since we have Obama telling us so. He may even quote a few appropriate lines from the Scripture to claim his messianic benedictions.

    2. Tel says:

      But growth in GDP does not trickle down evenly to every household, and it never has.

      Most likely this difference is something like $1000 at the household level and the rest gets shuffled around on corporate balance sheets and lost in inexplicable financial instruments that only the banks understand.

    3. jim smith new york says:

      Every single budget, proposal, bill, estimate and forecast issued by the Nobama gang is frought with inaccuracy. The folks in Congress are warned that if anyone submits a bill to eventually become law from either house, it must have at least 1000 pages. The danger of fewer pages can mean that someone, somewhere, will actually read it.

    4. toomuchgovernment, C says:

      Obama and team 'spin' things as they wish them to be for-the-day. Tomorrow it will be something different. Its a Shame there are so many people absolutely petrified of this administration they will moan and groan and take no action. However, this is exactly what BO and company desires. Gives a new definition to NATO–no action talk only.

      We deserve exactly what they are ramming down our throat if we allow this to happen! Socialized, rationed medicine; Cap and Trade; 10 trillion budget; nationalization and government ownership of everything from banks to the auto industry. We just sit back like we have 'no power.'

      Wake up American as this will be CUBA shortly!

      Its time for us to retake OUR country!

    5. Lynn B. DeSpain says:

      As Lenin said,"A lie told often enough becomes the truth." I guess one could call all of this the, "Green Truth."

      Hozro

    6. Dorothy Gavin, Pas. says:

      I think what I am really concerned about is not hearing any debate on any of these issues. I don't think they have over 30% of Americans who believe all this green garbage and yet it is being shoved down out throat by the left with absolutely no rebuttals. I believe in recycling and watching our heat and air (only for my cost) but this controlling leftist government is running all over us. I have had breast cancer and a lot of other conditions. I will be considered not well enough to throw medical money at. God Help us.

    7. Dennis A. Social Cir says:

      As the dems have said, never allow a crisis to go to waste. They are doing just ThAT, THE CRISES MAY NOT BE REAL BUT THEY WILL PUT ENOUGH SPIN ON IT TILL THE IGNORANT AMERICAN PEOPLE WILL BELIEVE IT. I WONDER JUST HOW PEOPLE FIND THEIR WAY TO AND FROM WORK, SURLEY SOME HAVE TWO MAPS AND THE ABILITY TO READ THEM. CAN YOU IMAGINE THE CONFUSION IF THE MAPS GET TURNED AROUND???

      Nothing that obama does suprises me anymore, he is the most dangerous man in this country. His silver tongue will lead this country into never never land.

    8. Dean, Tulsa, OK says:

      I heard a so-called 'expert' on the Fox business channel say there are only two ways to cope with the ballooning national debt: higher taxes or reduced government spending.

      We all know there is a third: hyperinflation. Okay, so maybe inflation is a hidden tax.

    9. Allen, South Carolin says:

      Every time Obama trys to take over another business by force rather it be retail service or whatever, we has a body should boy-cot that business. Let him print all the money he wants and let him eat it all!! We need to dry up the money. We need to let him know we can survive without his crappy power and Socialist attitude. We need to boy-cot the drive by media who does not report the truth and the sponsors that back them. We need to do it now…I'm made as hell and we need to go for it. I'm so sick of the republican party that can not get together and stand up and speak for our rights. I get more information from the talk radio hosts and programs than I do from my public officals. Our elected officals are to work for us and they best get off their butts and speak up before it's too late. I email and call everyday and I get these smoothed over generic letters from my elected officals. They need to start doing something, we need action, we need results and if they can't do it then we will. The Obama Administration is taking us down a horrible road, and we need action now. Let's get busy. Please respond.

    10. Allen, South Carolin says:

      Response to Dennis A.

      No truer words were ever spoken!! God Bless You.

    11. Ralph Foster, Bayto says:

      The definition of comunism is atheistic socialism. I learned this 39 yrs ago.

      So lets see.

      Are we a non christian? ______(atheistic)

      Are we socialistic ? ________.

      If yes to both. we are comunistic.

      R.Foster/ baytown

    12. Whicket Williams Kin says:

      Well, I have written letters to congress, the house and the white house. I bet my FBI file is 2 feet thick. I have accomplished exactly nothing. I went to the tea party in San Antonio. So Far, That has accomplished Exactly nothing. Might have made my FBI file a little thicker. When are we, as the owners of this country going to stand up to the usurpers who have stolen it, and sold it to china and the saudi's?

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