The House has passed a climate bill—more than 1,500 pages that no one has read—to respond to a nonexistent problem with a solution that would be ineffective if there were a problem, at a gargantuan cost. We’re already on track with the Great Depression; now we have our Smoot-Hawley, at roughly an analogous point in time after the initial crash.
I can’t stand to listen to the Democrats’ imbecilic arguments in favor of this bill. “It will create more than 1.7 million jobs.” I remember the soaring energy prices of 1973, 1979, and 2008; I don’t remember them creating lots of jobs. The effect was quite the opposite.
Still, an optimistic thought: The Democrats, to pass this, had to set it up so that the largest costs and the biggest damages to the economy are backloaded. Republicans will have opportunities to gut it before the worst kicks in.
UPDATE: Did they pass a nonexistent bill? “The manner in which the Democrats have run the House since taking control in 2007 has been disgraceful.” I couldn’t agree more.