Research

President Obama is already pushing a $1 trillion gamble on government-run health care through Congress. But he found a way to double down on his gamble without going through Congress. With his “cap-and-trade” national energy tax stalled in the Senate, the Obama administration decided to circumvent congress by ruling the EPA can regulate carbon dioxide on a national level. As USA Today reports:

The latest step by the government to regulate carbon dioxide emissions saddles industry with uncertainty and potentially higher costs, industry groups said Monday after the Environmental Protection Agency declared carbon dioxide a health hazard… Industry groups say EPA regulation would eventually drive up energy costs, lead to lost jobs and delays in project permits and construction.

As we pointed out in a research briefing yesterday afternoon, at a time of double digit unemployment and economic uncertainty, President Obama’s EPA sidestep towards higher energy costs is troubling. Democrats are sharing our concern with Sen. Blanche Lincoln (D-AR) stating President Obama’s EPA action "will create burdens on American industry without providing any significant environmental benefits."  And Sen. Bayh (D-IN) notes that “during these difficult economic times, we must not cost Indiana jobs, raise prices for consumers or penalize America while other nations refuse to do their part.”  Higher costs for business, more regulation – that doesn’t sound like things that would be good for the economy.

President Obama may want to emulate his European counterparts by gambling away our economy with job-killing carbon regulations or a binding international agreement. But as RNC Chairman Michael Steele said to the President in a letter this morning, all the American people want are jobs.