According to a recent report from the U.S. Budget Office, the climate bill will actually end up curbing the budget deficit, instead of putting us deeper in the hole as critics insist. Cap-and-trade legislation, as reported by Bloomberg News, would raise $846.6 billion. Deduct the added $821.2 billion to federal spending and you still have a $24.4 billion net gain, which is a win-win all around. And this spending includes what are essentially cash allowances to factories and polluters. If this legislation passes, we could see greater energy efficiency, less pollution, and a growing sector of domestic green-collar jobs that will boost a flagging economy.
Posts Tagged ‘budget’
