Obama’s Upcoming Investments With Your Tax Dollars Will Damage the Economy



King O

Next week, Mr. Obama will announce a cap & trade fiat without the trade. Cap & Trade was rejected by Congress but Mr. Obama irrationally mandates according to ideology not according to what is lawful or realistic. He has other spending initiatives that people need to be aware of. You should know how he is spending your money.

Frankly, he’s crazy.

The new 36 regulations Mr. Obama plans to announce on Monday will increase consumer prices, especially electricity bills. The regulations will run deep. The government is even regulating dishwashers.

All the Obama administration knows how to do is issue punitive taxes, promote illegal immigration and blame Bush.

The Chamber of Commerce reports that the yet publicly-unnannounced Obama plans for the U.S. economy will damage an already flailing economy that began to contract last quarter with -.1% growth.

According to their new report, the Chambers estimates that Obama regulations will cost America’s economy over $50 billion a year between now and 2030.

From the report, Assessing the Impact of Proposed New Carbon Regulations in the United States:

“Americans deserve to have an accurate picture of the costs and benefits associated with the administration’s plans to reduce carbon dioxide emissions through unprecedented and aggressive EPA regulations,” said Karen Harbert, president and CEO of the Energy Institute. “Our analysis shows that Americans will pay significantly more for electricity, see slower economic growth and fewer jobs, and have less disposable income, while a slight reduction in carbon emissions will be overwhelmed by global increases.”

The analysis found that EPA’s potential new carbon regulations would:

-Lower U.S. Gross Domestic Product (GDP) by $51 billion on average every year through 2030
-Lead to 224,000 fewer U.S. jobs on average every year through 2030
-Force U.S. consumers to pay $289 billion more for electricity through 2030
-Lower total disposable income for U.S. households by $586 billion through 2030

With global carbon emissions expected to rise by 31% between 2011 and 2030, the Energy Institute’s analysis found that EPA regulations would reduce this overall emissions level by just 1.8 percentage points.

What the Chamber isn’t talking about in their report is the loss of freedom that comes with increased government control of our energy and our money.

Mr. Obama will destroy the coal industry and he has been clear about this from the beginning of his tenure, and it will cost us in jobs and prices:

Mr. Obama plans to waste more tax dollars on a new temporary government program that will go nowhere.  He is allocating $1.3 billion to increase growth in manufacturing. Manufacturing has grown on its own because of cheap, clean, natural gas, something Mr. Obama wants to over-regulate.  It’s a paltry amount if he really wants to make a difference but it is another wasteful use of $1.3 billion in tax dollars.

His first manufacturing investment will be in Detroit manufacturing. It’s really a a bailout for Detroit to cover up the failings of a Big Labor-controlled Democratic city.

“The money will be used to foster collaboration, advance innovation and create jobs in our region and will keep our economic growth strong and our workforce ready,” according to the blather of one official.

They are going to develop connected vehicles that communicate with each other and with the road to carry their passengers more safely and efficiently to their destinations. And guess who benefits…wait for it…the United Auto Workers.

Connected vehicles are 4th Amendment violators in the making. They are vehicles that communicate with all manner of external and internal sources. One car just came out with a monitor that has red visual alarms if you go over the speed limit. It’s wired in real time. That means the tickets for speeding will soon follow. If they can’t get you out of your cars, they can make it miserable to be in one.

Our last investment in the UAW went well. Chrysler is now Italian and GM is recalling an enormous number of their cars.

The market can create resources but the government is bad at it and should let the market work.

If the government would get out of the way, our economy would boom because of cheap gas.

Mr. Obama is investing in illegal immigrant children. Reuters reports that administration officials are estimating that the number of illegal immigrant minors are likely to double in 2015 – in one year – to nearly 130,000, causing an increase in the cost to taxpayers from $868 million to $2 billion.

There is also a $2 billion Medicaid fund for emergency care that mostly helps illegal immigrants though Mr. Obama isn’t responsible for the fund, he’s only responsible for the increase in illegal immigrants.

Then there is the healthy food programs which now feed 31 million children. We give them breakfast, lunch, dinner and snacks. Good idea right? Maybe not without the regulation. The government that over-regulates won’t regulate this. On Long Island, we provide free meals in the schools and a good many of the applicants could easily pay for the meals themselves. There are no checks and balances for applying – it’s an honor system.

We will spend billions of tax dollars on building and repairing bridges, particularly in wealthy liberal states like New York where the tolls can reach $16. The tolls should go for repairs.

Obama promised to roll back the budget increases by $56 billion in this year’s budget, a trivial amount, and he even went back on that.

I just got an Obama email today which says he is “growing the middle class, comprehensive immigration reform, equal pay for women–these are the things we are fighting for, and the people agree with us.”

The reality is that he’s killing the middle class and growing the portfolios of the super-rich and Wall Street, he’s refusing to enforce immigration law, and the equal pay for women argument is almost completely bogus.

Then there is the question of central planning in general which made the Veterans Affairs what it is and will make Obamacare a disaster, but that is for another article.