04/06/2017

Enough Protection Already

John Stossel, Rasmussen Reports

"Trump may have just signed a death warrant for our planet!" warns CNN host Van Jones.

"Disaster for Clean Water, Air," says the Environmental Working Group.

Give me a break.

Regulation zealots and much of the media are furious because President Donald Trump canceled Barack Obama's attempt to limit carbon dioxide emissions. But Trump did the right thing.

CO2 is what we exhale. It's not a pollutant. It is, however, a greenhouse gas, and such gases increase global warming. It's possible that this will lead to a spiral of climate change that will destroy much of Earth!

But probably not. The science is definitely not settled.

Either way, Obama's expensive regulation wouldn't make a discernible difference. By 2030 -- if it met its goal -- it might cut global carbon emissions by 1 percent.

The Earth will not notice.

However, people who pay for heat and electricity would notice. The Obama rule demanded power plants emit less CO2. Everyone would pay more -- for no useful reason.

I say "would" because the Supreme Court put a "stay" on the regulation, saying there may be no authority for it.

So Trump proposes a sensible cut: He'll dump an Obama proposal that was already dumped by courts. He'd also reduce Environmental Protection Agency spending by 31 percent.

Good!

Some of what regulators do now resembles the work of sadists who like crushing people. In Idaho, Jack and Jill Barron tried to build a house on their own property. Jack got permission from his county. So they started building.

They got as far as the foundation when the EPA suddenly declared that the Barrons' property was a "wetland."

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Keynesian Economics and the Great Depression

Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.

 

-- Gary Wolfram, Hillsdale College,

Shadow Stats Snapshot


ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    BLS: 4.5%
    Shadow Stats: 22.5%
  • Inflation:
    March Year-to-Year: 2.38% (CPI-U*)
    Shadow Stats: 10.1%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]