Anyone still think USA economy will recover?

[el Gusano]

This new tax (cap and trade) will further destroy jobs and economy.

Obama Admin: Cap And Trade Could Cost Families $1,761 A Year

The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.

A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration's estimate, the cost per American household would be an extra $1,761 a year.

A second memorandum, which was prepared for Obama's transition team after the November election, says this about climate change policies: "Economic costs will likely be on the order of 1 percent of GDP, making them equal in scale to all existing environmental regulation."

[Justin Thyme]

Cap and Trade is going nowhere. If a health care bill isn't passed this year it's going nowhere. The sad part of this is that there could have been some decent health care reform passed if the two sides had actually worked together. Cap and Trade should have never been considered. Instead of Cap and Trade they should have considered tax credits for improved efficiency in power plants and industrial processes. Go ahead and produce the CO₂ just make sure you get every bit of usable energy out of producing it as is possible.

[BlackFox]

Damn JiT, ruined a perfectly good fear mongering thread right out of the gate.

[el Gusano]

If Cap and Trade and ObamaCare are defeated, it might recover.

[rstewart]

I can't see the economy getting much better. People don't have any money. The excessive living of the 90's and early 2000's has finally caught up to us. With credit being tight these dumbasses who do HELOC's for everything from furniture to vacations can't borrow their against their incomes for 20 years out. Lots have already spent every possible dime they could earn in the next 10 years trying to live above their means. If nobody has money nothing gets bought and the economy just keeps sputtering along.

The only way it's going to really recover is when we get our spending under control. With over a month left in the fiscal year we were $1.2 TRILLION over our budget for THIS year alone. Our total national debt is approaching $13 trilion. We've got to get it under control or we're doomed to be like France.

[el Gusano]

Don't you think taxing people an additional $1700 per year for the Tax and Cap, and 30% for forced socialization will help get it under control?