The White House Council of Economic Advisers (CEA) has released a projection of jobs created by the economic stimulus bill. However, the method they used to get these numbers falls short of basic scientific standards. The CEA modeled a potential outcome for the economy without the stimulus, basing it on historical data. They then compared this computer simulation with the actual data about what occurred with the stimulus – and have declared that the stimulus worked. This method would be met with a failing grade in any decent university economics …
Today the National Black Chamber of Commerce (NBCC) released a new study that predicts devastating economic impacts of Waxman-Markey’s cap and trade legislation. The analysis determines that by 2030 the law would: • Reduce national GDP roughly $350 billon below the baseline level; • Cut net employment by 2.5 million jobs (even after accounting for new “green” jobs); and • Reduce earnings for the average U.S. worker by $390 per year. • Reduce an average household’s annual purchasing power by $830. Although the Chamber’s model, used by CRA International who …
Can we tax, spend, and regulate our way to prosperity? Some say we can—if the taxing, spending, and regulating help fight global warming. North Carolina’s legislators are considering a package of 56 proposals to reduce greenhouse gas emissions. The proposals include such things as mandates on consumer appliances, energy-efficiency requirements for government buildings, subsidies for buying energy from renewable sources, subsidies for investment in renewable-energy technologies, mandating pay-as-you drive insurance, restricting the hours of operation of heavy trucks and buses, mandates for recycling electricity, rationing energy use by businesses (via …
