Whopper of the Year

by William Yeatman on January 2, 2009

Last year’s doozy is almost as good as this year’s but not quite. In June Senator Barbara Boxer, who chairs the Environment and Public Works Committee, told reporters during the Senate debate on the Lieberman-Warner America's Climate Security Act:

"This bill, in fact, will lead us to a strong economy, with the creation of millions of new jobs."

Partner in crime Senator Harry Reid elaborated:

“The Boxer-Warner-Lieberman bill is also about creating a new and powerful economic engine. It is about creating hundreds of thousands, even millions of high-paying, permanent and sustainable jobs in America… Hundreds of thousands of new jobs in renewable energy have already been created by foresighted investors who see the need for clean energy that doesn't contribute to global warming. Millions more jobs can be created with the enactment of a strong cap-and-trade system.”

 The Office of Management and Budget countered, saying the bill would impose economic costs of $10 trillion through 2050 primarily by boosting energy prices and would slash annual household disposable income by nearly $1,400 per household in 2030 and as much as $4,400 in 2050. "This would make S. 3036 by far the single most expensive regulatory bill in our nation's history," OMB said.

The Heritage Foundation calculated job losses under the Act would exceed 500,000 before 2030, even using the most favorable assumptions. And the National Association of Manufacturers predicted that more than 4 million jobs could be lost by 2030.

Talking about the “millions” of jobs that would be created and forgetting to mention the many more millions that would be destroyed truly takes the cake.

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