Well, At Least for Two Years

The Hill reports that some Senate Democrats may attempt to have it both ways on whether the Executive Branch should set climate and energy policy  by supporting a resolution by Sen. Jay Rockefeller that would put a two-year moratorium on EPA regulation of greenhouse gases.

What message does that send? 

  • With this vote, we affirm Congress’ policymaking role in the American system of government. Well, at least for two years .
  • EPA regulation would be disastrous for the economy. Therefore we stand strongly against its destruction of jobs and prosperity. Well, at least for two years.
  • We recognize that EPA regulation is wrong, but important political constituencies demand some sort of action — even if it is EPA command-and-control. We believe this resolution represents a reasonable compromise. Well, at least for two years.


Do they not recognize that uncertainty is the enemy of investment, jobs and economic recovery?

George Will’s column today is timely and on point, “Jobs report a nightmare for Obama progressivism.”

Today investors and employers are certain that uncertainties are multiplying.

They are uncertain about when interest rates will rise, and by how much. They do not know how badly the economy will be burdened by the expiration, approximately 200 days from now, of the Bush tax cuts on high earners — aka investors and employers.

They know the costs of ObamaCare will be higher than was advertised, but not how much higher. They do not know the potential costs of cap-and-trade and other energy policies.

They do not know if “card check” — abolition of the right of secret ballot elections in unionization decisions — will pass, or how much the economy will be injured by making unions more muscular.

They do not know how the functioning of the financial sector will be altered and impeded by the many new regulatory rules and agencies created by the financial reform legislation.

Let uncertainty multiply. The recovery is not a priority. Jobs can come later.  The economy will not get well, at least for two years.

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