U.S. debt rating about to be lowered from ‘AAA’

One Response to “U.S. debt rating about to be lowered from ‘AAA’”

1. Mutnodjmet on May 23rd, 2009 8:12 am

   This should lower it even more. Follow the link at the end.

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   The Bill, designated H.R. 2454 and entitled “American Clean Energy and Security”, reads like a horror story. It is the single most destructive Bill for this Country that I have ever read — and I read the Stimulus Bill!

   I will give you examples of some of the more detrimental effects of the Bill, should it be enacted, and how this will affect each one of us. Sensible energy policy is one of the most important issues we will face at this time. We must join together to stop this Bill in the House and the Senate, because this proposed legislation is deeply flawed. Please check out the links added to this fact sheet and call Representatives and Senators and tell them to vote NO on HR. 2454!!!

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   On May 14, 2009, House Energy and Commerce Chairman Waxman (D-CA) and Energy and Environment Subcommittee Chairman Markey (D-MA) released their updated “American Clean Energy and Security” legislation, including proposed allowance allocations for the cap-and-tax regime. The Energy and Commerce Committee will mark up the bill during the week of May 18, 2008.

   “If you didn’t auction the permits it would represent the largest corporate welfare program that has ever been enacted in the history of the United States. All of the evidence suggests that what would occur is that corporate profits would increase by approximately the value of the permits. “
   —Peter Orszag, then-CBO Director
   Congressional Testimony, 2007

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   This Bill ensures that the US will lose jobs in a big way. Millions of jobs will move overseas because manufacturers will not be able to commit to the new standards as specified by this Bill. By the way, there is no qualification for who drew up these standards and I have seen no science to support the claims of this Bill!!

   Most of the technology that this Bill addresses and believes should be implemented does not exist today. For instance, the Carbon Capture and Sequestration portion of this Bill has no tried and true science behind it. There are only a few places even researching the ability to Capture Carbon and those doing it say we are 30 years out from the technology. How then does the Congress and the Administration expect us to implement this program now? Not to mention the potential hazards associated with the untested storage protocols proposed for the sequestered carbon dioxide gas. For example, in 1986. an explosion of natural carbon dioxide (CO2) in Lake Nyos west of Cameroon killed 1700 people and livestock 25 km away. And this was a natural act caused by CO2 seeping from beneath the lake. The diluted carbon dioxide generated via our current fossil fuel technologies seems less threatening in real-world terms.

   Nuclear power research will be halted and not used as an option for an alternative source of tried and true energy. Financial aid will be given to car companies to build more plug-in hybrids cars. There is no clear definition of the cost of this assistance to the now government-owned-companies.

   There is very little justification of costs defined in any portion if this Bill. It allows the government to determine what kind of appliances you are able to purchase and use. The Bill even permits the government to shut off the power to those who are deemed as using too much energy — and that means homes as well as businesses.

   This Bill will cripple already struggling business because it mandates public buildings adhere to an even more stringent standard for energy use. Therefore, business owners will likely opt to not hire or keep people — their energy use cost will go up exponentially for each hour they use power and each person that uses power! And this mandated doesn’t just affect manufacturing entities. Office buildings with computers will be regulated and have to adhere to these standards as well.

   The government will also tell you which type of light bulbs you can use on your patio or in your home. Energy standards will be put on Jacuzzis, hot food cabinets, and water dispensers. It will allow government to invade your life at every level. They want to make it a federal crime to buy and sell appliances that are not meeting their standards. The Bill allows for the Attorney General to prosecute those that who sell products not in line with the standards!

   And the best part is that the Bill allows for more money to go to the Association of Community Organizers for Reform Now (ACORN)! ACORN will be funded to the tune of $50 million dollars annually for 5 years so they can provide financing for energy efficiency projects and increased conservation in low income, rural an urban areas! Given their success related to ACORN’s involvement with home loans under Fannie Mae and Freddie Mac (Federal National Mortgage Association and Federal Home Loan Mortgage Corporation), it is worrisome indeed to have it involved in another federal program of this magnitude.

   These are just a few of the highlights of this legislation. If this doesn’t scare you nothing will! Obama wants to push CO2 emissions back to the number of 1907 before the automobile went viral and he will put us all back to pre-industrial revolution standards for our quality of life. Who will be able to afford to even use energy after this passes? None of us! The Bill is slated to raise energy costs for most Americans to 5 times current levels. Perhaps, ACORN officials and highly placed special interest politicos may not be as affected.

   Provided below are links to the legislation summary prepared for Congressional members and other important sites for your information on the subject!

   Sincrerely,

   Dawn Wildman
   President
   Southern California Tax Revolt Coaltion
   dawn.wildman@socaltaxrevoltcoalition.org

   PERTINENT LINKS

   http://www.box.net/shared/sr63oeoz9z

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