The US House of Representatives passed a cap and trade bill yesterday by a slim vote. The bill was watered down so that most of the stiff taxes from the bill will occur 10-20 years from now.

I dont’ think this will matter too much. First, since it barely passed the house, it will likely fail in the Senate, since the Democrats will need a 60-40 margin, and many moderate democrats are against the bill. Second, since most of the legislation’s stiff guidelines do not occur until later, there is a good chance they will never actually be implemented, and some sort of other legislation will prevent this bill from putting the economy in a tailspin.

Our idiot president claimed it as a jobs bill, saying it will create a ton of green jobs, just like Spain’s cap and trade bill did. Spain’s unemployment is now over 18%. For every ‘green job’ it created, it destroyed two regular jobs due to the taxes and inefficiencies created. Splendid.