Return to PayGo Rule Kills Dirty Energy Bill!
The fossil industry and its media mouthpieces have been pushing the idea that only the energy-only bill in the Senate can pass. Reuters, the NYT, the WSJ regularly come out with doctored quotes like this to push the idea that the climate and clean energy bill is dead, and that only the energy-only bill is passable.
They quote Republican Senators as saying that the climate bill is dead. They don’t mention that Republicans have never supported climate legislation, so this is not new news, and does not in fact represent the chances of legitimate climate and clean energy legislation passing with more Democrats than ever and the two Republicans (Collins and Snowe) who’ve always voted right on clean energy.
Regardless of the fossil industry stranglehold on the corporate media, however, a little-covered action by the Obama administration last week quietly stuck the nail in the coffin of the energy-only bill. Under PayGo – fiscal responsibility was just signed back into law again last week.
As a result, with “pay as you go” rules back in effect, the congress now cannot pass any legislation that does not pay for itself – such as the energy-only bill.
The much touted energy-only bill is exactly such a piece of fiscally poor legislation, because it adds $13 billion a year to the deficit. The CBO score is lousy. (PDF)
Its spends $36 billion a year to supply a paltry $3 billion a year for renewable energy. (The remainder is mostly spent on a vast new bureaucracy to disburse this princely sum, and $10 billion a year for nukes and fossil energy)
With PayGo in effect, there is zero chance that President Obama can sign the dirty energy only bill. By law.
By contrast – CEJAPA, the cap and trade climate and energy bill developed over years by the Democrats, which started as the Waxman, Jeffords, Sanders, Boxer, Kerry, Lieberman, and now (R) Graham bill – on the other hand….described as the Gold Standard of Climate Bills as long ago as 2006 by the Union of Concerned Scientists?
That bill would easily meet PayGo rules, with a fiscally sound CBO score (PDF). The Clean Energy Jobs & American Power Act generates over $800 billion to really ramp up renewable energy, and it spins off a $21 billion surplus to reduce the deficit. Stay tuned…
Image: Blackwaterdog
Source: Ecoseed
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Thanks for the clear explanation. This is true deficit reduction legislation that will finally bring fiscal sanity to the energy debate. Within 10 years of cap and trade we will no longer need Middle East oil and the Oil Sheiks can go back to cultivating dates. Republicans, Independents, Libertarians need to join with Democrats to support this bill, which has little to do with global warming and a lot more to do with national security and correcting the balance of trade.
Thanks for the clear explanation. This is true deficit reduction legislation that will finally bring fiscal sanity to the energy debate. Within 10 years of cap and trade we will no longer need Middle East oil and the Oil Sheiks can go back to cultivating dates. Republicans, Independents, Libertarians need to join with Democrats to support this bill, which has little to do with global warming and a lot more to do with national security and correcting the balance of trade.
The surplus generated during the Clinton Administration was smoke and mirrors and brought about in great part by adding social security taxes to the general budget instead of segregating these revenues as in prior years. This fiscal trickery is now coming home to roost as an avalanche of Baby Boomers retire and claim their benefits. The truth is that no administration since Eisenhower has run a surplus or reduced the deficit.
The surplus generated during the Clinton Administration was smoke and mirrors and brought about in great part by adding social security taxes to the general budget instead of segregating these revenues as in prior years. This fiscal trickery is now coming home to roost as an avalanche of Baby Boomers retire and claim their benefits. The truth is that no administration since Eisenhower has run a surplus or reduced the deficit.
John, I agree, we can easily transition to renewable power (correcting our balance of trade and increasing national security, and ensuring a safe climate for our grand-kids) with legislation that accounts for waste carbon costs(like CEJAPA does).
Republicans need to let their Republican Senators know that they want them to stop blocking renewable energy legislation. Half the problem is Republicans just don’t know that their Senators are blocking it.
We did have PayGo during the Clinton years. The greatest thing about passing PayGo again last week is that it killed the dirty energy bill that the fossil industry (through a compliant media) tries to foist on us.
John, I agree, we can easily transition to renewable power (correcting our balance of trade and increasing national security, and ensuring a safe climate for our grand-kids) with legislation that accounts for waste carbon costs(like CEJAPA does).
Republicans need to let their Republican Senators know that they want them to stop blocking renewable energy legislation. Half the problem is Republicans just don’t know that their Senators are blocking it.
We did have PayGo during the Clinton years. The greatest thing about passing PayGo again last week is that it killed the dirty energy bill that the fossil industry (through a compliant media) tries to foist on us.
The global warming meme is discredited and no longer can be the basis on which carbon offset legislation can be enacted. The global warming issue is a distraction and threatens to bury carbon offsets in a partisan political controversy. It can be enacted because it is good for the economy, enhances our health and wellness, will create desperately needed jobs, lock in low energy costs for American industry and consumers, and enhance national security by greatly reducing our reliance on fossil fuels extracted from lands embroiled in incomprehensible religious and political conflicts. Carbon offset legislation deserves bipartisan support.
The global warming meme is discredited and no longer can be the basis on which carbon offset legislation can be enacted. The global warming issue is a distraction and threatens to bury carbon offsets in a partisan political controversy. It can be enacted because it is good for the economy, enhances our health and wellness, will create desperately needed jobs, lock in low energy costs for American industry and consumers, and enhance national security by greatly reducing our reliance on fossil fuels extracted from lands embroiled in incomprehensible religious and political conflicts. Carbon offset legislation deserves bipartisan support.