http://thehill.com/leading-the-news/climate-bill-could-cost-2-million-jobs-2009-08-12.html
At a time when America can't afford to lose another job, along comes the cap and trade bill which within a short period of time starts to erode the industrial jobs we have left and by 2030 will have eliminated the total estimate of two million.
One can only imagine who has their hand in this cash register to make the loss of two million jobs look like and obvious alternative rather than the blight upon the country's limited prosperity as it is.
Add another climate bill cost estimate to the growing pile.
The National Association of Manufacturers (NAM) and the American Council for Capital Formation (ACCF) released a study Wednesday that found under a high-cost scenario the House global warming bill could reduce economic growth by 2.4 percent and cost 2 million jobs by 2030.
Environmentalists were quick to criticize the study for underselling the development of climate-friendly sources of power and not releasing other assumptions NAM and ACCF fed into the computer model to get their economic forecast, which takes more of a glass-half-empty view than recent governmental reports.
But the business groups’ figures will likely provide opponents of capping carbon more ammunition and could add to the angst of senators from industrial states. One key finding is that the climate bill will hurt the manufacturing sector particularly hard. As much as 66 percent of the total job loss from the climate bill could come from manufacturers, the report notes.
And though the impact of the bill will grow over time, the economy will start feeling the effects of the carbon cap almost immediately.
“Industrial production begins to decline immediately in 2012, relative to the baseline,” the report notes.
Tony Kreindler, a spokesman for the Environmental Defense Fund, which supports the climate bill, said the business study is overly pessimistic about the development of nuclear power plants and makes other assumptions that raise the costs of a climate cap. For example, the
