Obama's Cap & Trade Taxpayer Cost Estimate Will Be 5 Times Higher Than Stated? Potentially $3 Trillion Plus?
proposed CO2 'Cap & Trade' U.S. program is estimated by his
administration to be a total cost of $650 billion for consumers ("taxpayers") over
the first 8 years. Based on previous Federal government incompetence at
estimating total costs of new endeavors (see below list), one should
multiply any Obama or Congressional estimate by at least 5x to be safe.
So, what does that mean? The cost of Obama's 'Cap & Trade' consumer tax over
next 8 years will probably exceed $3.25 trillion, or some $28,000+ per
U.S. household. Here are some previous horrendously wrong cost
estimates that are eye-opening, to say the least:
(January) CBO estimated that the bailout TARP plan would cost taxpayers
$189 billion; instead, several weeks later the estimated cost was
raised to $356 billion, and will eventually be much more by end of 2009
1965 CBO estimated that Medicare Pt. A cost would be $9 billion by 1990; instead the cost was $66 billion in 1990
1965 CBO estimated that all Medicare cost would be $12 billion by 1990; instead the cost was $107 billion in 1990
CBO estimated that subsidy for Medicade special hospitals would be $100
million by 1992; instead the cost was $11 billion in 1992
1988 CBO estimated that Medicade homecare cost would be $4 billion by 1983; instead the cost was $10 billion in 1983
2003 White House estimate of Iraq War cost would be $60 billion; instead the cost so far has exceeded $600 billion
the above information reveals (and reminds us), the Federal government
is absolutely terrible at cost estimates, especially for new
initiatives; and, the politicians always 'way' low ball the original
add to the misery of a huge Cap & Trade consumer tax looming for U.S.
citizens, it should be remembered that this gigantic consumer-borne cost is
expected to lower global temperatures, at most, by a mere 0.1 degree C
(1/10th of a single degree) by the end of the century. That's it, 0.1
degree at a cost of $28,000+ from each household. Now do you
understand? This is radical environmentalism, enhanced with the leftist
Obanomics, and doing political business the same old way - sticking it
to the consumer.