Wednesday, June 24, 2009

Waxman-Markey bill expects and plans for massive unemployment

by Lonely Conservative

An Update has been added at the bottom. It's important.

This just in from reader Donny W. who took the time to peruse the 1,200 page Waxman-Markey monstrosity:

Part of my quick perusal of the cap and trade bill:

Cap and trade bill anticipates large-scale, long-term unemployment:

Pg 956 of HR 2454:

“A petition for certification of eligibility to apply for adjustment assistance for a group of workers under this part may be filed by any of the following: (A) The group of workers. (B) The certified or recognized union or other duly authorized representative of such workers. (C) Employers of such workers”

Pg 958 of HR 2454:

“if- (A) the group of workers is employed in- (i) energy producing and transforming industries… or (v) other industries whose employment the Secretary determines has been adversely affected by any requirement of title VII of the Clean Air Act [which is being revised by HR 2454]

Pg 973 of HR 2454:

“The climate change adjustment allowance payable to an adversely affected worker for a week of unemployment shall be an amount equal to 70 percent of the average weekly wage of such worker…An eligible worker may receive a climate change adjustment allowance under this subsection for a period of not longer than 156 weeks.”

It was only by luck that I stumbled upon that. I just happened to stop in that section of the 1,200 page monstrosity. God only knows what else is hidden in there.

God, and those playing God with our money and our children’s future, only know what’s in the bill. I wonder how many of them will read this disastrous piece of legislation before voting on it.

The bill acknowledges that it will cause massive unemployment and provides for extra benefits for select constituencies when that happens. What about the rest of us? What about the kids who won’t be able to find work when they grow up? Who will compensate them?

Click here for the text of the bill. If you don’t need to eat, sleep, work or go to the bathroom between now and Friday you may get through it. Let me know what other nuggets you find in there. Oh, and watch out, there’s a warning that the document is so large it could crash your computer. Don’t you just love this new transparency?

Update 6-25-09 from Lonely Conservative:

I checked my email before going to bed and found that Donny has been busy reading this bill. Thank God someone is. What a disaster! This from Donny (pardon my laziness but it’s 1:30 AM Eastern Time and I have to get up at 7:30)

Hi Karen - One more email and then I’ll leave it alone, but they know damn well that this bill will decimate the economy. There will be shortfalls in the Social Security and Medicare trust funds caused by the provisions in HR 2454. We all know that Social Security and Medicare are funded by payroll taxes. Elsewhere in the bill they state that they know there will be decreased wages and increased unemployment “attributable to the provisions of the American Clean Energy and Security Act of 2009″ and they also know it will affect Social Security and Medicare. And on top of that, they want to pretend like it isn’t happening.

They will make up the difference in funds “in order to place the Trust Fund in the same position at the end of such fiscal year as the position in which it would have been if such changes had not occurred.” Nowhere in that section (the section is only two pages) does it state how they will know what it “would have been” but they are going to dig us in an even deeper hole on Social Security and Medicare and then the fairy godmother is going to come along each year and restore the trust funds to what they would have been otherwise. This is robbing Peter to pay Paul in the most destructive way possible.

Pg 1026: “The Secretary of the Treasury shall transfer from time to time to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, from amounts in the general fund of the Treasury…on account of changes in benefit costs and changes in tax revenue attributable to the provisions of the American Clean Energy and Security Act of 2009 and the amendments made thereby, in order to place each of such Trust Funds in the same position at the end of such fiscal year as the position in which such Trust Fund would have been if such changes had not occurred.”

Pg 1027: “The Secretary of the Treasury shall transfer from time to time to the Trust Fund, from amounts in the general fund of the Treasury that are not otherwise appropriated, such sums as the Chief Actuary of the Centers for Medicare & Medicaid Services calculates as necessary (and so certifies to such Secretary) for any fiscal year, on account of changes in benefit costs and changes in tax revenue attributable to the provisions of the American Clean Energy and Security Act of 2009 and the amendments made thereby, in order to place the Trust Fund in the same position at the end of such fiscal year as the position in which it would have been if such changes had not occurred.”

How can any rational person read this and believe these people are on their side?

Many thanks to Donny for taking the time to read through this atrocious bill. Lord knows our elected representatives aren’t doing so.

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