| Today’s NYT demand for overhaul: ‘The U.S. needs a climate bill that engages the whole economy and forces technological change” |
| Most important story from last week, courtesy of the New York Times: “Ten moderate Senate Democrats from states dependent on coal and manufacturing sent a letter to President Obama on Thursday saying they would not support any climate change bill that did not protect American industries from competition from countries that did not impose similar restraints on climate-altering gases.” |
| You know it’s bad when even a Reuters environment blog notices: “it does seem like an exquisite irony that, with the best of environmental intentions, the Obama team may have stomped all over the United States with a heavy-duty carbon footprint.” |
| The government, and sympathetic media outlets, would
tell you that the program is wildly successful and popular, stimulating the economy and saving the environment in one fell swoop. |
| Others would
argue that the program is a poorly run government bailout that’s done more to stimulate foreign car manufacturers than American ones. Who’s
right?
|
| First: is the program actually popular? According to Rasmussen, the answer is a hearty “no.” 54% of those polled opposed the program, and only 35% supported
it. Any claims
that it is a popular program have no basis in polling.
|
Second: Is the program stimulating the economy? According to the AP, maybe briefly yes, but in the long term, definitely no:
|
All
this will help the economy grow faster in the second half of the year
than previously forecast. Yet the rebates will also steal economic
growth from the future: They make car sales happen now that would have
been made later anyway.
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