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Waxman-Markey at This Hour

I'm watching with amazement as the House gets ready to ram through the Waxman-Markey climate change bill that not a single member has likely read all the way through, let alone understands. I spent much of last week and early this week reading through the second iteration of the bill, the mere 946 page version (up from the original 650 page first draft). Then early this week the bill grew to 1,201 pages, and as of this morning, no one knows how long it is. That's because Henry Waxman dropped in a 309 page amendment this morning at about 3 am, and there is confusion as to whether it is substitute language for the existing bill, or 309 additional new pages. (It is apparently the latter, but it is hard to tell.) But why let that hold up a vote?

I'll have a paper out next week analyzing the most salient aspects of Waxman-Markey before it heads off to the Senate (I assume it will pass the House by brute force of the Democratic leadership), but my short summary is thus: It is the energy and climate policy equivalent of Sarbanes-Oxley financial regulation, guaranteeing extensive new bureaucracy and substantial economic cost to the productive economy while achieving few of its stated objectives. Just as Sarbanes-Oxley did little or nothing to expose and prevent the excessive risk and inflated asset values of the housing and financial sector, Waxman-Markey will do little to achieve genuine greenhouse gas emission reductions and curb the risks of global warming. The "cap and trade" system at the heart of the bill is riddled with so many loopholes that it should be considered more of a "hairnet and giveaway."

Stay tuned; this one will be a case study for decades to come if it actually passes the Senate and gets signed into law.

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Discussions - 16 Comments

I can't believe this is going through. Well, so much for not having corrupt bureaucrats monitoring every aspect of our lives and lording authority like wicked control freaks staring at an ant through a magnifying glass. This is one of the darkest days in American history. It really signals that the people have no voice, and our supposed represenatives view as the maggots and a drain on the earth.

The only way out now is violent revolt. "Countless people ... will hate the new world order ... and will die protesting against it. When we attempt to evaluate its promise, we [must] bear in mind the distress of a generation or so of malcontents, many of them quite gallant and graceful-looking people." H.G. Wells The Open Conspiracy1928. I would rather fulfill his prophecy than live under this.

Two more things on this one: Just called my congressman, busy signal. The bill is literaly being written while it is being voted on. How does anyone not recognize this as a criminal regime. We talk about thrid world contries and laugh about corruption, well, our represenatives are about to vote on a bill they have not read and is not finished that gives them the right to regulate our use of energy and probably steal our land in the name of phony environmentalism. If anyone thinks this is going to create jobs, you are a grade A moron. The fact that they can stand there and say that with a straight face, wow. Cold hard criminals. Worse than Orwellian at this point. I'm surprised that they didn't just say it does not exist yet since most people said it was some sort of myth six months ago. Wow, let the sheep morn their idols while the masters plan their slaughter.

What is it, Brutus? Do you wish they would cook the legislative sausage a little before eating it?

I really like the "hairnet and giveaway" image, though it makes the dire threat thundered about in the political emails I am getting seem overwrought, except for the "this will be SO expensive you can't believe it!" parts.

guaranteeing extensive new bureaucracy and substantial economic cost to the productive economy while achieving few of its stated objectives.



Woah! Hayward and Greenpeace agree! Seems to me this means two things: 1) this bill really sucks and 2) it's definitely going to pass.

Good is done in daylight, evil in darkness. This was done, like the bailout before, under cover of night and no one was even allowed to read it. How does anyone even cling to illusion of constitutional republic anymore. How can we have laws that our lawmakers don't even read before they become law. It's bizaro world, its outright tyrany. Some republicans tried, but it seemed token resistence. I may have chained the doors shut or set fire to the capitol. Welcome to serfdom, all hail our banker kings. This is the deathblow to the economy, now we get eugenics through healthcare rationing. I hate the public today as much as I hate the new world order. Their death warrants were signed and they have no idea. Keep on twittering about michael jackson yuppies, just don't check your electric bill in a few months.

8 republicans voted yes and they passed the bill. I don't know who they were but the list says 8 voted yes and it passed by 4. I don't know what it will ever take for most people to realize the grim reality of this bill short of it totally coming to pass. I did not think it would come to this, this thing will have no chance of getting struck down in the senate. I'm glad my voice was unable to be heard today as my democratic congressman voted yes and his phone was off the hook all day.

The question is, Matt, does this mean that Hayward's been pallin' around with eco-terrorists? ;)

In any case, his outrage-priming over legislators not reading or understanding the bill would be a bit more credible if he'd made similar observations about, say, the Patriot Act. But that was Bush, and questioning the prez was unPatriotic, so pushing the bill through (without reading it or comprehending it) was the responsibility of anyone who didn't side with the evil-doers, etc, etc.

Brutus' call for violence moves him into Michelle Bachmann territory. They are going to steal our land! Darkest day in American history! I wonder if he has given as much concern to the whopping defense bills signed with no press coverage whatsoever. Transnational entities organized our government and markets decades ago. But go ahead and 'call your congressman' - how quaint.

I hate the defense budget and the patriot act as well. Thank god for the two party system so a rotten thing like this can come along and people will just point back at the last rotten thing the other party did. I called for the quaintness, I had no illusion that they carred. Please be careful saying I called for violence...I don't think i did that and I really don't want to end up in jail (thanks republicans for the usa patriot act and now thanks democrats for the cyber bullying acts...free speech?). I said its probably necessary if we don't want to live in some sort of Orwellian neo-feudalism. What are your thoughts on this bill two liberal guys? This one bill is so important because it gives so many powers to the federal government to arbitrarily regulate the minute details of our lives. I agree on the transnational entities organizing the government and markets: this is the proof and a big step to their endgame, if you believe that why come on here supporting one half of their puppets.

This bill will have the same results as the regulation of the housing sector and the banking sector- the destruction and loss of wealth!

I have worked on energy issues since 1980 and this bill is about the worst that I have ever seen. It does far more harm than good. It's new stringent energy codes will never pay back as well as doing more damage to the housing industry which is trying to recover from its fiasco. The democrats must get all of their facts from energy zealots who believe save energy at any cost until it bankrupts everybody.

The cap and trade bill, formally known as the "Waxman-Markey Bill", should have been more appropriately named the

"CON MAN-MALARKEY BILL"

It's the biggest CON on the American taxpayers in history. It's also loaded with MALARKEY! Namely, loads of "perks" for all those big money contributors to Obama's campaign.

The eight Republicans who supported cap and trade were:

1. Congresswoman Mary Bono
2. Congressman John McHugh
3. Congressman Michael Castor
4. Congressman Christopher Smith
5. Congressman Leonard Lance
6. Congressman Frank LoBiando
7. Congressman Mark Kirk
8. Congressman David Reichert

Everywhere I turn I hear and read of anger. Probably fewer talk of this because I think a lot of them haven't a clue. This is deliberately talked of as a "green" bill to sucker the people.


The fellow who does the chart measuring of responses to slogans, speeches, etc on Fox cable says people are bored at the sound of "cap and trade" and don't pay attention. It shows better when it is identified as "green."

Perhaps we could change that to "greenback bill." Not too far a reach.

However, there is talk and anger and even teaparties which the Obama clan has set out to riducle. Ridicule is his chief weapon.

We need to stop talking and complaining and do something positive - if nothing else, nag the senators into speaking out. They are a bunch of fish-bait worms. Half the reason the republicans lost is their inablility or cowardice in speaking up.

Health care is now being considered and Repub. Grassley is saying we need compromise - with the dems, of course.
We need no such thing. We need to stop spending money.

The health bill is in the senate now and


Sorry - the back tab did not work and I could not edit.

As I was saying, the health bill is being considered now and he plans to get it out by Aug. 8.

What I can't understand is why anyone voted for it after John Boehner's reading of the last minute amendment.

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